DIGITAL NOMAD TAX ADVICE ♡ THE NOMAD CAPITALIST

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  • Опубликовано: 20 ноя 2024

Комментарии • 161

  • @sofiesworld
    @sofiesworld 7 лет назад +26

    omg i needed this! being a dual citizen i have NO idea if i should pay taxes in BOTH countries or just the one i live/work in? so confusing! i loved watching this, thanks so much Louise!

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +4

      Yay so glad you enjoyed it. Yeah it's DEFINITELY worth asking some smart questions to find out where you fit (or where you want to fit). A few phone calls or a bit of research could save you a heck of a lot of money. Not a bad hourly rate ;)

    • @DanicaChristin
      @DanicaChristin 7 лет назад +7

      I had some US colleagues when I was living and working and Switzerland. They told me that they earned less than the threshold (99k/year if I remember it correctly) and therefore didn't have to pay taxes in the US BUT still had to file a tax return in the US. Apparently it's a criminal offence not to file but I'm really not an expert. If you do some research you will know what exactly you need to do.

    • @sofiesworld
      @sofiesworld 7 лет назад +2

      Yes! Thanks so much, Danica!

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +1

      Thanks for the tips Danica!!

  • @jalabi99
    @jalabi99 6 лет назад +41

    "Go to where you're treated the best." Excellent advice!

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +3

      Agreed!! The world is so easy to explore now so you can be fussy :)

  • @jojohehe3251
    @jojohehe3251 6 лет назад +4

    I really admire the way Andrew speaks. And you asked great questions and let him go - really good interviewing technique. Wonderful video.

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +1

      Wow thank you so much - that is a really lovely compliment :) Hope you have a wonderful day!

  • @NonStopParis
    @NonStopParis 7 лет назад +23

    This is the most useful video literally ever

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +2

      Yay! So glad you liked it! It can be a kind of boring topic but it's so important and Andrew does a great job of bringing everything to life because he's so enthusiastic about it!

  • @MackenzieFly
    @MackenzieFly 7 лет назад +6

    This video was sooo helpful for me! I'm just getting started on my journey and I'm definitely going to use this video moving forward. Thank you!

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад

      Thanks! I'm so glad you enjoyed it - Andrew is such an interesting guy to follow. Where are you mostly based at the moment?

  • @cathi_d4810
    @cathi_d4810 7 лет назад +3

    "On shore is the new off shore" what a great sound bite!! Great video given how much of a minefield tax is 👌

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +1

      Haha - I thought that too when he said it! #catchy
      Glad you found it interesting! A thorny but important topic - so many people are talking about it in the background it's nice to have some out in the open and debunk some of the myths online!

  • @AndreaHeckler
    @AndreaHeckler 7 лет назад +4

    As an American now living abroad, I'm dreading tax season so much 😂 Super helpful video!!

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +2

      Eeep! I mean really my number one piece of advice is to get a tax accountant! haha. Best decision I ever made.

    • @The67Crucible
      @The67Crucible 7 лет назад +3

      You should read this, it's not complicated :) www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion

  • @ericeverson5956
    @ericeverson5956 4 года назад

    Andrew, great video. I can't believe this video is almost 3 years old! Thanks to you also for having Andrew on Digital Nomad Girl.

  • @thegardenofeve
    @thegardenofeve 6 лет назад +1

    Excellent video! I learned a lot. Loved the advice: ''Go to where you are treated best.''

  • @Sirjohnny
    @Sirjohnny 5 лет назад +1

    For US citizens the foreign earned income tax exclusion kicks in if you are out of the country for at least 330 days out of a 12 month period, but it gets tricky. best to hire a tax professional

    • @digitalnomadgirl
      @digitalnomadgirl  5 лет назад

      Yes definitely always good to hire someone! Will save you money and stress for sure :D

  • @annastayziaa
    @annastayziaa 3 года назад

    1:22 tax residency vs. citizenship vs. physical location
    9:00 American around 100k income advice ... but California requires more research .

  • @DanicaChristin
    @DanicaChristin 7 лет назад +1

    Thank you so much for this video, very helpful! So far I have almost always paid taxes in the country that I was living in as I tend to say stay for longer periods (years) plus I usually work for a local employer.

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +2

      So glad you enjoyed it! Working for a local employer definitely makes taxes a lot simpler/less flexible. Are you still staying in places for that long? I got the impression you were moving around quite a lot at the moment!

    • @DanicaChristin
      @DanicaChristin 7 лет назад +1

      Digital Nomad Girl For the last year no, I've only been travelling, not working. Before that I was 3 years in Australia, then 3 years in Switzerland. I'll probably start working again in November/December but again only for 12 months or so, will most likely get a job in Africa or Asia.

  • @ShannaTrenholm
    @ShannaTrenholm 7 лет назад +5

    So good! I love Andrew's videos (mostly), but this combo--with you--is great! Now, to figure out what's best for me...

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +4

      So glad you enjoyed it! He's a fascinating guy and so knowledgeable! Yeah that's definitely the tricky part.... sorting out a tailored situation :) It seems like one of the most important questions is how much you're making, and where you're willing to live.

    • @ShannaTrenholm
      @ShannaTrenholm 7 лет назад +2

      I know where I want to live (Portugal), and iI'm hoping to take advantage of the Non-Habitual Resident (NHR) programme. I don't mind paying some taxes, but lifestyle/quality of life is the most important factor for me. I'd like to get out from under my obligations to the U.S., that's for sure! :)

    • @phylliskhare
      @phylliskhare 7 лет назад +3

      Same here. Two favorite people together in one video. Almost ready for his official advice.

    • @ShannaTrenholm
      @ShannaTrenholm 7 лет назад +1

      Hi Phyllis! I recognize you--we follow one another on Twitter :) Would love to know more about where you plan to move to.

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +1

      Totally agree! It's always a balance of lifestyle vs tax bill. In many ways having a life you love is priceless!!

  • @Mr3andrew3
    @Mr3andrew3 4 года назад

    Andrew's the best. It's a small world people- get out there and enjoy it! *A.

  • @jamesgulland
    @jamesgulland 6 лет назад +5

    This is so well explained, and super helpful. Thanks!

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +1

      Really glad to hear that! Thanks for the support :)

  • @dominicway3584
    @dominicway3584 2 года назад

    This is a fantastic video. Thanks so much.

  • @jeffreyd508
    @jeffreyd508 6 лет назад +2

    Own nothing, control everything. Anonymity is not a crime....true story...

  • @younesraouz6001
    @younesraouz6001 4 года назад

    I like how the girl summarizes !

  • @terryannemacdonald3058
    @terryannemacdonald3058 2 года назад

    Loved this video!

  • @munnybunny
    @munnybunny 4 года назад +1

    As a US citizen would you know if it's advantageous to incorporate yourself as a S corp if you earn over the FEIE limit? Say you earn 155k/yr and the FEIE covers 105k of the salary you pay yourself. The remaining 50k you then "distribute" to yourself from the corporation and would also be tax exempt? If I understand it correctly.

  • @alexanderchenf1
    @alexanderchenf1 4 года назад +1

    The interview is better than he talking to himself

  • @battlebuddy8076
    @battlebuddy8076 6 лет назад +1

    whats the best option for a digital Day trader that travels or live mainly overseas ??

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад

      It depends which countries you are in, for how long, how much you earn, and where you are willing to move to. So a lot of questions! If you'd like to hire Andrew for advice he is: nomads.lpages.co/apply/

  • @examininglife4338
    @examininglife4338 5 лет назад +1

    This was so helpful, thank you so much!

    • @digitalnomadgirl
      @digitalnomadgirl  5 лет назад

      I'm so glad you found it useful! Good luck with your journey :)

  • @waynenicholls6362
    @waynenicholls6362 2 года назад

    Cracking video 🔥

  • @RodGibsonMusic
    @RodGibsonMusic 5 лет назад +3

    You tapped dat, Andrew, I'm sure.

  • @theeffenworldtraveler2370
    @theeffenworldtraveler2370 5 лет назад

    That was a good interview combination . You should do that again ..

  • @marieaustin10
    @marieaustin10 7 лет назад +7

    In my situation.
    I rang HMRC and they told me as I am out of the country for (x) amount of time then I am not liable to pay tax to them in the UK.
    I was told by HMRC to keep an eye on which countries I am in at what time. If I am settled in a foreign country for (x required) amount of time I might need to pay some tax there. But since we move around every few weeks and don't live anywhere right now... We're not currently liable to pay tax to anyone at all.
    At least, they is my understanding. But it's super confusing.

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад +2

      Awesome!! That's great news :D Yeah a lot of nomads aren't liable anywhere which is a pretty crazy situation :) Government definitely hasn't caught up with the modern world yet....

    • @tryirish
      @tryirish 7 лет назад

      But did they tekl you still had to file a tax return in the UK despite not liable for tax?

    • @vladimirkovalev1990
      @vladimirkovalev1990 6 лет назад +2

      While this may sound reasonable, there are known cases of people in a similar situation being forced to pay UK income tax because they never obtained a tax residency anywhere else. As a result, HMRC concluded that they were liable to pay UK tax. Usually, people obtain a tax residency in a tax-heaven to avoid this kind of issues. I am a digital nomad myself and my plan is to get a tax residency in Panama via the friendly nations visa. Panama has a territorial tax regime which means you don't pay income tax on earnings received from outside of Panama.

    • @ladolcevitauk1474
      @ladolcevitauk1474 3 года назад

      @@digitalnomadgirl loved this colab with Andrew. Did the interview happen in Serbia? I’ve just recently discovered your channel but you don’t seem to be posting videos anymore, hope you return soon. Take care! Joseph (U.K.)

    • @dominicway3584
      @dominicway3584 2 года назад

      Really interesting comment. I’ve just started the digital nomad life, and I’m moving countries every 3 months returning to UK perhaps for 1 month a year. So my job is trading the international markets known as spread betting ( this is also tax free in UK) I also trade my share trading ISA’s which again is tax free in UK. I earn enough to look after myself, but nothing north of six figures sterling. I’m assuming from your input that I can live a tax free life. It’s very much a grey area , but a little clearer now. Cheers Marie, and I’m now a follower.

  • @bz2unow
    @bz2unow 6 лет назад +1

    Great colaboration and info plus she's gorgeous!

  • @marieaustin10
    @marieaustin10 7 лет назад +3

    Very helpful video! :)
    Haha I have his attitude - go for it and solve the problem when you get there :P
    I am sure this video will be really useful to those who want to make sure they're doing things right.

    • @digitalnomadgirl
      @digitalnomadgirl  7 лет назад

      Haha - for sure! I think that holds true up until a certain income bracket and then you need to be more careful.... don't want to end up with massive fines!! But I also agree some people are waaaaay over thinking it and getting structures far too complicated for what they earn.

  • @thomaskane4121
    @thomaskane4121 5 лет назад

    Love this, thank you so much for making it.

  • @DanceDaily
    @DanceDaily 2 года назад

    as an American living abroad in my second citizenship then, what is the best way to register my business to pay the least in American taxes?

  • @ztezmaxim2683
    @ztezmaxim2683 6 лет назад +1

    Americans should support the fairtax and the irs goes away. If you dont spend money in the USA, there is no tax

  • @krisbroholm
    @krisbroholm 5 лет назад

    I'm fairly sure most countries would consider you liable for tax if you are a citizen and don't have tax liability anywhere else (i.e by virtue of spending less than 183 days in any given place).
    What you can do, I suppose, is set up something in a tax haven or places with territorial tax laws, but I've no idea how to do that.

    • @digitalnomadgirl
      @digitalnomadgirl  5 лет назад

      Yes I think it's prudent to have tax residency somewhere rather than nowhere - but it depends how cautious you are. A lot of nomads have residency nowhere and it's technically allowed. Up to each person I guess :)

  • @BoleundReisen
    @BoleundReisen 5 лет назад +1

    I live in Serbia and working in united states. I mostly use american banks to withdraw my pay. As I have only Serbian citizenship for lots of countries I need visa to enter. Its really hard to explain in embassy what i do and how i do...they roll their eyes...Also happens with border security people they roll eyes too....So i just say businessman. Any advice on that?. Also try to cover whats best medical insurance for traveling people. EG revolut

    • @digitalnomadgirl
      @digitalnomadgirl  5 лет назад +1

      Hi. I am planning on doing a video soon about insurance so will let you know on that :)
      I think in life sometimes you have to take some eye rolling as part of the way the world works! I'd try to find a nice easy way to explain what you do that doesn't raise as many red flags! Hope that helps :)
      p.s. we love Serbia!

    • @BoleundReisen
      @BoleundReisen 5 лет назад

      @@digitalnomadgirl Btw lots of those insurance well not available with my citizenship. eg rezolut. I find little trick to go around "restricions" and get things I want. I write full adress street adress in eg belgrade serbia, but as coutry i choise croatia. Item arrives in croatia...Croatian post assume it a "mistake" and send it to serbia...oldest trick in the book

  • @larcat6548
    @larcat6548 4 года назад

    i have a question: lets say youre from asia and you have big businesses there, then you invest in europe and you invest in property there that earn and hire a property manager to handle all local taxes there. if you invest in the eb5 investment program of the usa and after some time pass all the requirements and can become a us citizen. if you decide to become a us citizen, will the us irs also tax your businesses in europe and asia even if they are already being taxed where they are?

  • @barrelierj
    @barrelierj 2 года назад

    Hi i am wondering this, If I am Panamanian and I have a LLC in New Mexico US doing FBA in Amazon, but I dont have US residency neither citizenship, I live in Panama from where I come from.... Do I have to pay taxes in US ? as Panama is a territorial tax country.... Could give some advises.

  • @tryirish
    @tryirish 7 лет назад +1

    I am an Irish citizen.starting a 100k salary job that will require 48% in tax to be deducted. Could I set up a pass through entity in Ireland and request my company that my gross salary be paid into that so that I only pay 12.5 corporation tax? Have you recommended this structure for nationals working in Ireland?

    • @Kingofmolotov
      @Kingofmolotov 6 лет назад

      Gary Phelan obviously the 12.5 % is not the final tax you'll end paying. You got setup and accounting costs for the company. How will you get out the money to transfer it to your personal level? As dividend payouts with you as the sole owner? Suspicous. And why would your company give you tasks (as you're no longer employed)? The tasks you perform you'll be held liable if you fuck up. You'll need to pay all your social contributions yourselves.

  • @SailingTerra
    @SailingTerra 4 года назад

    I startet Sailing around the world. Living on my boat, and on my move all the time. What will. You do if you wana open a buisenes operating online?

  • @JasonRuppVlog
    @JasonRuppVlog 7 лет назад

    good vid

  • @facundoposse3591
    @facundoposse3591 7 лет назад +1

    Muy bueno el video!!!

  • @spenceabroad7960
    @spenceabroad7960 2 года назад

    What is tax??

  • @forexacademy4292
    @forexacademy4292 6 лет назад

    great video!

  • @ericeverson5956
    @ericeverson5956 4 года назад

    Fav line........"Solve the problem when you have the problem":)

  • @judyj782
    @judyj782 6 лет назад +1

    If you dont reside in any country more than 180 days or earn a income there your tax free

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад

      It is different for every country so always double check :) but that is a good rule of thumb to start

  • @IamDavidGauthier
    @IamDavidGauthier 5 лет назад

    Anyone know where I can find info on this for Canadians?

    • @digitalnomadgirl
      @digitalnomadgirl  5 лет назад +1

      Let me know if you find a good resource :) Andrew's blog has lots of info on it too!

    • @IamDavidGauthier
      @IamDavidGauthier 5 лет назад

      @@digitalnomadgirl Thanks I'll check it out!

  • @brambakker1939
    @brambakker1939 5 лет назад

    What is onshore??🤔

  • @miminotbovered2857
    @miminotbovered2857 3 года назад +1

    Am I the only one who confused here, it's like he's talking a lot but not saying anything? He didn't actually answer any questions.

  • @JJGebora
    @JJGebora 5 лет назад

    The dual citizenship position by law /tax and other/ are a very gray area! Can't get any straight answer, find out information. After 35 years I want to move back to Hungary where I was born and lived 32 years. I have SSI income here, /$13K/year/, what is already taxed, I don't know how can I transfer to Hungary or even am I title for it if I move back. I have some long capital gain , what I want to take out in Hungary, to buy a home, and I don't know where I will have to pay tax for it!?

  • @yoyoretro
    @yoyoretro 6 лет назад +4

    If you are being pay via payoneer are you totally tax free? like you dont exist in the world? haha (Im from Argentina.. not all digital nomads are US or European!)

  • @gayjack2743
    @gayjack2743 6 лет назад

    Wisdom words

  • @levleung2000
    @levleung2000 2 года назад

    i expect more and more people are going to be nomads as governments are getting more and more greedy, Any tax rate above 20 percent is a sin. If anyone ask me where i am from, my answer is Earth.

  • @johnunvaxxed1918
    @johnunvaxxed1918 6 лет назад +2

    sorry guys n gals, Andrew is only dealing with 6 and 7 figure entrepreneurs

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +1

      Yeah he has a very specific niche. But he gives out lots of great free advice on his RUclips and blog!

    • @johnunvaxxed1918
      @johnunvaxxed1918 6 лет назад

      @@digitalnomadgirl I go for the free advice because his rate is now higher than EY. And it's always good to have a second opinion. Any alternatives to Andrew that you could recommend or bring on your show?

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад

      Hey! No one that i know of but I'm sure there must be some out there :) If you find someone let me know!

    • @spicysalsaking791
      @spicysalsaking791 4 года назад

      @@johnunvaxxed1918 Who is EY?

  • @davidwestwater8925
    @davidwestwater8925 4 года назад

    You guys are great! Make your monney becuase of the bennifts you received from western millitary production and then skip off to some third world country that would be communist without our millitary becuase of the poverty. Thanks for the loyalty guys!

  • @jammyjackson2743
    @jammyjackson2743 6 лет назад

    It easy if you stay longer then
    180day in a ,, most ,,country
    You are a tax residence in that country . And on top of that
    If your unlucky enough to be a
    AUSTRALIA . Then the income you
    Get from AUSTRALIA . Will be taxed like a foreigner investor.
    And they will tax you at the maximum rate of 48% .
    So I stay less than 180 days in any country . Then move to another country

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад

      Yes staying as little time as possible in each country is definitely good rule of thumb advice :) But each country has different rules to keep up to date with.

  • @alphonsoeiland3
    @alphonsoeiland3 5 лет назад

    Congress has made subtitle A income taxes on American citizens living abroad drawing foreign source income. Congress has never mandated an income tax on Average American citizens living domestically.

  • @workingnomad
    @workingnomad 6 лет назад +1

    It's really simple. Just pay tax in your home country. So what if you pay tax and you don't live there? You are still contributing to society at home and not severing your ties either. Whenever I am asked about my residency I just say my home country.

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +2

      But where is "home"? Where you spend most of your time, where you're born, where you feel happiest, where your parents live, where you last had a Doctor appointment? It's a tough question!

  • @momentumstocks3493
    @momentumstocks3493 5 лет назад

    Where do you actually live Andrew? Georgia?

  • @in-oz
    @in-oz 6 лет назад

    I was hoping to find some actual information here. 🤨

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +1

      Any requests for future videos?

    • @in-oz
      @in-oz 6 лет назад +1

      @@digitalnomadgirl As a US citizen recently moved to Australia and freelancing I'd love info specific to that. In particular re tax treaties, superannuation, foreign tax credits, GST etc.

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +2

      Hey! This isn't a channel about Tax (and I'm not a qualified expert) so I don't go into specific countries. I wanted this video to give a mindset overview to help people get started and understand the terminology. Andrew has a great channel which is all about tax so check his out too :)

  • @JUSTTHETRUTHTV
    @JUSTTHETRUTHTV 4 года назад

    Your so good looking Andrew. Nice blonde hear! Pun pun pun?

  • @9Crow
    @9Crow 6 лет назад

    In America there are two classes or more of citizens. State of the union citizens and us citizens. Are you a us citizen they will ask. Well how are you defining that? I'm from the state I was born in so yes I'm a us citizen or state of the union citizen same thing. The difference lies in the federal territory District of Columbia vs the state. All us citizens must pay income tax and the bill of rights which applies to the state of the union citizens does not apply to us citizens a us citizen does not have the same rights as a state citizen only mere privileges and benefits the only right a us citizen has is to reside in the untited states and has the benefits of paying income tax and going to jail when told to do so. 55% or so of Americans do not owe income tax nor do they pay any. You can be a us national too. The United States is not a Country nor do we have a President it is a foreign corporation owned by The Crown and its CEO is Donald Trump and he was appointed by Queen ElizardBETH! We have a DeFacto government not a dujour government for the people and by the people we are a common law Country. George Washington Thomas Jefferson were not us citizens that term us citizen didn't exist then. The IRS is a foreign Corporation it is not a government agency. They are identifying you as the corporate straw man not the man living soul. You don't have to leave to Country you just need to find out who you are if you are a us citizen corporate fiction lost at sea or the living soul and etc...and correct your status.

  • @gettingslim186
    @gettingslim186 5 лет назад

    U 2 make a great couple

  • @alirahman4638
    @alirahman4638 5 лет назад

    Your very nice

  • @niallmcdonagh1093
    @niallmcdonagh1093 4 года назад +1

    Wondered what Scarlett Johansson was up to these days...

  • @goldbrick2751
    @goldbrick2751 6 лет назад

    Is the blonde girl from UK?

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад

      Hey! Thanks for watching :) But I'm not "the blonde girl" - I'm the creator and owner of this channel. But yes I am from the UK! Hope you enjoyed the video

    • @goldbrick2751
      @goldbrick2751 6 лет назад

      No probs, I was searching for a Meetup group but there is nothing outhere. How do I get in touch with Nomads here in UK. Andrew is in Tbilisi I guess, is anyone in UK to talk to?

  • @arlrmr7607
    @arlrmr7607 6 лет назад

    How is this helpful? Do your own thing? That's your advice? No! You must follow the Dual Taxation laws between the two countries in question: the country you're from and the country you are resident in. Of course hardly any CA knows everything so everyone's making random mistakes.

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +1

      Good luck with your own tax adventures! Sounds like you've got it all figured out :)

  • @mrki731
    @mrki731 3 года назад

    This guy blabs for 20 minutes to say absolutely nothing.

  • @susiehudson6458
    @susiehudson6458 5 лет назад

    Girl... U r YUMMY!!!

  • @ReverendNillerz
    @ReverendNillerz 6 лет назад

    My wife is an expert in broadcasting, and she says that Digital Nomad Girl should not be staring at the camera, but instead at Nomad Capitalist.

    • @digitalnomadgirl
      @digitalnomadgirl  6 лет назад +3

      +ReverendNillerz hey! I did try that in the past but I normally sit quite close to my interviewees for sound purposes and so it looks a bit creepy if I'm looking at them! Don't want to seem like a couple.... Hehe. Thanks for the feedback though!

    • @crossroads670
      @crossroads670 6 лет назад

      Digital Nomad Girl - you were fine! Looking at Andrew would only work on a bigger set. Xx