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As a US expat, I setup an S-corp for 2009 and it is VERY beneficial for consultants who live abroad and can setup their own US company: because it allows me to
by rubyrescue 16y ago
As a US expat, I setup an S-corp for 2009 and it is VERY beneficial for consultants who live abroad and can setup their own US company: because it allows me to pay myself a reasonable salary underneath the Foreign Earned Income Exclusion; to take business expenses against the remainder, and most importantly, NO self-employment tax.
- pelle 16y agoI hadn't thought about that. Very good idea. The only issue is that cofounders have to be US citizens/residents. But it sounds like it would work well if you don't need that.
- robk 16y agoHuge upvote for this. This is excellent advice - my partner had the same situation last year. An entrepreneur making < $91k should most certainly do this asap!