Great video James. I'm Australian with a small online business living in Latin America for two years. I think I'll be in touch with you very shortly. Cheers.
@@JamesBakerCPA even if you cut ties, you have to be a tax resident somewhere right? Or can you just cut ties with home country and travel to these countries and be a tax resident of nowhere?
Hi James. Great video, very informative and interesting. If I were to implement this tax strategy would my mother country possibly have an issue with this? If I were to return 2-3 years later would they request tax forms from when I was abroad? A bit more information about this would be great. Thanks,
Hi James what about trading stocks online would an LLC or C Corp work? And could you also run and Amazon business through it as well or would that be seperate? Specifically Amazon kindle self publishing books through Amazon?
Great video James, very informative. For US citizens that own a US business, what is the day limit? Spend more than 331 OUTSIDE of the USA? I always thought FEIE would be the only solution, but it seems that you are saying if money is kept inside my US corporation and I pay a small salary to myself, the rest of the income left in the LLC will not be taxed.
Hi James, just to clarify, this means creating a personal US bank account as well as a US business bank account right? And sending all US LLC earnings from the biz account to the personal account.
Great video. I left Europe this way, but this meant removing first my tax residency there which implied telling them which country I was heading to😮. The US bank account is in fact handy to use a credit card to pay regular expenses, but then if you leave longer than six months you need a residence permit and a bank account there too, that implies that you will have your become a tax resident of your new country. Any thoughts how this can be avoided, yet being able to transfer big money to buy a house or a car from the Us? Regards
Hi! Thanks for the comment great to hear from you. Often when buying real estate you can send to the sellers without proof of funds or bringing Into the country
Whats going on if you dont operate in US, you dont live in US but usually travel to US 2 or 3 time but these travels are for diferentes reasons? Those personal travel put the IRS like im operaring in the us?
Yeah! This thing doesn't work if you have family and kids! 😢 I mean... imagine having to move several times per year to avoid tax and how would that affect your kids at school!
Well, it surely is more complicated but there are ways to do it I'm responding from Panama now and my kids have camps here and do homeschool work. We spend most of the year in the States still but we are transitioning to homeschool and while it is a commitment, you get to spend so much more time with your kids and sharing experiences with them. Check out the expat money show with my friend Mikkel Thorup he talks about this a lot
@@JamesBakerCPAhello dear / please am a non usa resident i got a question i have opened llc with tailor brands now they charge me with 3000 usd for 1 year even i didnt sell anything in the usa please let me know about this issue ..thank you so much
this video convinced me to work with you - i will soon get in touch
Great video James. I'm Australian with a small online business living in Latin America for two years. I think I'll be in touch with you very shortly. Cheers.
Sweet! Us company be perfect for you
But first you have to cut ties with your country first as a tax resident you didn’t mention this.
Yes good comment!
@@JamesBakerCPA even if you cut ties, you have to be a tax resident somewhere right? Or can you just cut ties with home country and travel to these countries and be a tax resident of nowhere?
@JohnHarthomstowCEO Im a nz tax resident. If i cut ties with NZ, then will the nz governement not ask me where ill be paying taxes?
@JohnHarthomstowCEO Also then why don't billionaires just take advantage of this and just be a perpetual traveller and pay no taxes?
Hi James. Great video, very informative and interesting. If I were to implement this tax strategy would my mother country possibly have an issue with this?
If I were to return 2-3 years later would they request tax forms from when I was abroad?
A bit more information about this would be great.
Thanks,
Hi James what about trading stocks online would an LLC or C Corp work? And could you also run and Amazon business through it as well or would that be seperate? Specifically Amazon kindle self publishing books through Amazon?
The LLC not the c corp please. The c corp pays taxes.
Great video James, very informative.
For US citizens that own a US business, what is the day limit? Spend more than 331 OUTSIDE of the USA? I always thought FEIE would be the only solution, but it seems that you are saying if money is kept inside my US corporation and I pay a small salary to myself, the rest of the income left in the LLC will not be taxed.
No it doesn't work like that for a US citizen. The FEIE is your best bet. I have more videos to come for americans
Hi James, just to clarify, this means creating a personal US bank account as well as a US business bank account right? And sending all US LLC earnings from the biz account to the personal account.
Can you help me set up a LLC and Bank account in the US from Trinidad & Tobago, to get credit and funding?
Great video. I left Europe this way, but this meant removing first my tax residency there which implied telling them which country I was heading to😮. The US bank account is in fact handy to use a credit card to pay regular expenses, but then if you leave longer than six months you need a residence permit and a bank account there too, that implies that you will have your become a tax resident of your new country. Any thoughts how this can be avoided, yet being able to transfer big money to buy a house or a car from the Us?
Regards
Hi! Thanks for the comment great to hear from you. Often when buying real estate you can send to the sellers without proof of funds or bringing Into the country
And apart from that every situation is so unique
@@JamesBakerCPA yes, i guess its a private transaction
😂Thank You, James 🙂🍦
but you still always pay us tax because of your income in from your LLC in the us right?
if you are NOT US CITIZEN You don't have to pay tax. even the LLC is register & earn USD in USA.
Whats going on if you dont operate in US, you dont live in US but usually travel to US 2 or 3 time but these travels are for diferentes reasons? Those personal travel put the IRS like im operaring in the us?
No it doesn't
even if they did they have no way of controlling everybody, usa had a revolution over 2% tax now yall pussies
Yeah! This thing doesn't work if you have family and kids! 😢
I mean... imagine having to move several times per year to avoid tax and how would that affect your kids at school!
Well, it surely is more complicated but there are ways to do it
I'm responding from Panama now and my kids have camps here and do homeschool work. We spend most of the year in the States still but we are transitioning to homeschool and while it is a commitment, you get to spend so much more time with your kids and sharing experiences with them. Check out the expat money show with my friend Mikkel Thorup he talks about this a lot
i‘d suggest you to stick talking about us side of things. Lots of dangerous fake news in this Video
I try to speculate and share my experiences but always recommend talking to experts in other countries
@@JamesBakerCPAhello dear / please am a non usa resident i got a question i have opened llc with tailor brands now they charge me with 3000 usd for 1 year even i didnt sell anything in the usa please let me know about this issue ..thank you so much