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US taxes on global income if you're a tax resident of the US. There are ways to do it but at the low end it costs more than the taxes so it's not worth it.
by panamaguy 10y ago
US taxes on global income if you're a tax resident of the US. There are ways to do it but at the low end it costs more than the taxes so it's not worth it.
- mixmastamyk 10y agoI thought they also do it to expats, except for some token amount such as 100k/yr.
- panamaguy 10y agoLuckily I'm not American. For those that are you are you can renounce, or roll the dice with Panamanian banking secrecy. The token amount still really helps for small business and remote workers.
- mahyarm 10y agoIf your a citizen or green card holder you are taxed on your global income even though you don't live there. If you were not a citizen / PR, I doubt you'd be able to legally start a business like that in the USA first. You do get a big ~$100k income tax deduction if you don't live in the USA, but that is a separate point. I'm not quite sure if you actually did this move from the USA.