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/biz/ - Business & Finance

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50720801 No.50720801 [Reply] [Original]

Do any american anons here have experience owning businesses or other investments overseas? From what I understand, I can avoid paying taxes to the US on income generated overseas up to approximately $110k in a single calendar year using the foreign income exemption, but are there any methods for avoiding paying taxes on money made beyond this amount? Paying double income taxes on any income made above that threshold is complete bullshit. Tax evasion and renouncing my citizenship aren't realistic options, I'm looking for legal loopholes that I can abuse.

>> No.50720809

Is this water fucked up?
??

>> No.50721303
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50721303

Bumping for answers or advice

>> No.50721321

>>50720801
You just reminded me I have to jerk off to my Asian gf

>> No.50721397

Hire a tax lawyer to set up shell companies for you you cheap fuck

>> No.50721510
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50721510

>>50721397
How would this help? Wouldn't the money still eventually be coming from overseas, meaning it would be taxed twice?

>> No.50722179
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50722179

>>50720801
That's a man.

foreign income exemption is if you WORK for Somebody, not if you own a biz.
A good example of foreign income exemption is Afghan/Iraq Private contractors wages.
Work around is:
you as Falang Pig own 49%, your Ladyboy Life Partner owns another 49% and A Thai lawyer/biz partner owns the other 2%.
Thus a majority Thai owned company or business. and pray everyday that the lawyer doesn't run off with you SEAmonkey.
It will be tough. NO, don't open a Beer Bar.

>>50721510
Yes it will be taxed twice, but any taxes paid to foreign government get knocked of US taxes.

Yep - you want to swap crypto... Make an Asian Binance.... KEK or an Asian Celsius/Nexo... don't you boy?
then just kick back and be a punter, monger, sexpat.
I can smell what your stepping in.


Never get out of the godamn boat.

>> No.50722299

It's generally not worth the hassle.
This is why companies typically don't create overseas businesses unless they are either franchise or branches EG Mcdonalds US, Mcdonalds UK. You just pay tons more tax and get to deal with local employment law, not worth it.

>> No.50722337

>>50721321
You just reminded me I have to jerk off your asian "gf"

>> No.50722501
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50722501

>>50722337
>>50721321
only the uninitiated cannot tell.
I blow job is a blow job. amirite boys?picrel

Bottom line is, you cannor profit from this.
Your best option is generate a portfolio that has least 30K USD value and have monthly income ( gains) of about 2.5K per month as part of you "citizenship"
Then take the rest live like a standard monkey king.

Once you live inna jungle, you realize how much you don't really need.

Plus you can own a monke.picrel kind of.