6 Reasons the Puerto Rico Tax Incentives Aren’t all They’re Cracked up to be
Lots of offshore gurus are pushing Puerto Rico these days. As usual, the picture isn’t quite as rosy once you dig below the surface.
Stay informed on the latest tax topics for Americans who live or invest abroad.
The foreign earned income exclusion (FEIE) allows you to pay zero US income tax on up to about $100k per year of income from working while you live outside the US.
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Lots of offshore gurus are pushing Puerto Rico these days. As usual, the picture isn’t quite as rosy once you dig below the surface.
Don’t let a fear of paying US tax stop you from getting your paperwork in order. Depending on your facts, you may be able to file completely correct tax returns and still not pay a dime of US tax.
Yes, you sure can. Just having an account at a US bank isn’t enough to cause you (or your non-US corporation) to pay US tax. Plus, opening a US bank account can be an absolute breeze.
If you’re selling on Amazon just through an LLC (or with no legal entity at all), then you’re paying way more tax than you need to. This article shows you why you’d be better off using a non-US corporation.
The tax treatment of non-US entrepreneurs selling into the US is probably the most misunderstood issue in all of US international tax. Let’s take a closer look, and I’ll show you why much of the conventional wisdom you’ll read here is absolutely wrong.
The easy set-it-and-forget-it way to put at least 15% more in your pocket.
Operating through a Hong Kong company comes with several hassles, and its benefits are minor to non-existent for most expat entrepreneurs. A company in an easier jurisdiction (like Belize) would most likely work much better for you.
It’s not too late to get caught up on past tax returns and FBARs. This article explains why you still have time and the steps you can take to get everything cleaned up.
In addition to the US tax aspects, Americans who live or invest abroad should also consider the non-US tax aspects of their investment or business. This article provides an overview of non-US tax systems and how the non-US tax aspects of a business or investment play into US tax structuring.
An in-depth look at renouncing US citizenship, including the consequences, procedure, and US tax consequences.
Let’s take an in-depth look at the US tax aspects of owning and operating an offshore company.
An in-depth discussion of the US tax filing and payment deadlines for Americans who live or invest abroad.
Taking the show on the road? Here’s a good start on the tax and financial aspects of the digital nomad lifestyle.
Do you hold assets through an offshore trust? You’ve just warmed the cockles of the IRS’s paperwork-loving heart. This article discusses everything you’ll need to file and what to do if you’ve missed a filing deadline or two.
Answers to your most frequently asked questions about the Foreign Bank Account Report.
What happens after the IRS receives a FATCA report from a non-US bank? And what can you do to make sure you’re safe? This article provides an inside look at IRS procedure and discusses how to make sure you’re protected from the paperwork machine.
As an expat, you’re accustomed to new ways of thinking about life and how to live it. Saving for retirement is no different – moving abroad may necessitate a re-think of how to use your Individual Retirement Account.
Get your new life started on a firm footing.
Clear as mud? Good. Let’s first run through the easy stuff (the same stuff you can read anywhere else), and then we’ll get into the more complicated issues.
New expats and digital nomads often work with the same US tax advisor they’ve used for years. This article describes the trouble this can cause and how you can avoid it.
I'm Stewart Patton, US tax attorney and expat entrepreneur based in beautiful Belize. Read more about me here, or email me at stewart@ustax.bz to discuss how I can help.
U.S. Tax Services, P.O Box 2651 Belize City, Belize • Belize tel: (+501) 629-6007 • U.S. VOIP: (312) 675-8571 • Email: stewart@ustax.bz