4 ms·
That’s called a Controlled Foreign Corporation and it won’t work, because its earnings & profits need to be included on the Subpart F income of the shareholders
by DrJokepu 2y ago
That’s called a Controlled Foreign Corporation and it won’t work, because its earnings & profits need to be included on the Subpart F income of the shareholders.
Uncle Sam will get his share. Unless you’re a large corporation, that is.
- lesuorac 2y agoHow is the large corporation structured that lets it work?
- anomaly_ 2y agoBecause you have to put actual substance in the entity. If OP ditched his US citizenship, moved to the Caymans, and then started consulting for international clients - it would work.
- blitzar 2y agoControlled Foreign Corporation: a non-resident company, fund, institution or other entity in a low-tax country that is at least 50% owned or controlled, directly or indirectly, by resident taxpayers.
- fennecbutt 2y agoOr unless you're extremely wealthy. The rich often pay 0-not much% tax no matter where they are in the world.