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As it gets easier & easier for smaller companies & individuals to setup international businesses, I think this is going to happen on a major scale outside of me
by joelrunyon 13y ago
As it gets easier & easier for smaller companies & individuals to setup international businesses, I think this is going to happen on a major scale outside of mega-corporations.
- benjohnson 13y agoAbout 10K of my income is from resold web hosting - the numbers actually pan out for me to open a business in Ireland and keep it open for about $1500 per year + $1000 in IE taxes to duck about $3500 in US taxes. If I only spend the profits outside of the US (in the form of vacations), it would work.
- sokoloff 13y agoAssuming you are a US citizen, you're taxed on your worldwide income. So, you have to figure a way to make that trip abroad not a vacation (personally taxable fringe benefit). It would be perfectly legal for your Irish company to hold a board meeting in Ireland and compensate the ordinary and reasonable expenses for attending. Clearly, that would not be a vacation. ;)