Great information for everyone. We are US citizens, living abroad, with an online business based back in the States. There are several people we have met here in Portugal who are from the US doing the same thing.
Hi!! I am living in Sydney, AU and have a small online business in USA (FL). How do you go about tax season? Do you have someone handle your taxes or do them yourselves? And does that impact your taxes in the country you are in? Thanks!
Hi Jim, i am from India currently worky in the UK, I am interested in starting an LLC as i am planning on doing some online courses for my students. Can I base it in one of the tax free states of the US? If so kindly advise me as to what to do. Could you provide me with your mailing address so that i can liase with you Thanks Billy
Sir, Thank you. Im learning so much from you compare to others who are not patient to explain to me even they have a business presently. I plan to move back to the Philippines with my family. My wife is already a dual citizen, but I’m not. I just retired from the military and see a great opportunities to help others in the Philippines. With this in mind, I will need to have a side business registered in my wife’s name since I’m not a dual citizen, Filipino American, born in the U.S. still researching this information. Thank you again.
Very interesting video. I'd like to get more info about taxes when living in a foreign country. I always heard that if you live in two different places, you pay taxes where you live for more than 6 months. If you create a company in America but you live elsewhere for over 6 months, must you pay taxes in the other country? How does it work? The decision about paying taxes as an S-Corp makes things even more complicated, but I think it would be a good idea to create a video about taxes in general when you live elsewhere being the decision of creating an S-Corp part of it. If you want to grow your channel, maybe you could consider inviting a specialist in taxes. As you said, there is very little information about that on the internet so I'm sure you'd get lots of views :)
But what if you only want to use PayPal....I desire a business lisc. Overseas, as I'm going to be traveling full-time solo female motorcyclist, with a you tube channel and selling goods and services, not made in The usa... im trying to save as much in taxes as possible...
I'm interested in doing this. I am Canadian but have lived in the US so I have an SSN etc. The entire process would be the same for me, correct? But would I need to obtain a visa to be able to operate my business in the US while living abroad?
This is so helpful! Thanks, Jim! Would love more info on biz bank accounts & living abroad and just online business legal implications for digital nomads. Keep posting great videos!
thank you so much this is so helpful! I hope this applies to me. Im an American citizen but living in Australia. hoping to register my business through America so I can have more opportunities
Hi, this is my first year doing taxes for my small online business based out of FL but I live in Sydney, Australia. I am stressing out about doing my taxes right. Could you clarify what you mean by no taxes for the state of Florida? Thank you!
How long does it take to not be a California resident? I've lived in California my whole life recently moved overseas to ASIA I wanna form a LLC but do not want to form in California $800 annual fee looking at other cheaper states Wyoming how long do I need to be away from California not to be considered a resident ive heard if I form in another state I still need to pay tax to Cali.
Hello and thank you for this informative post. I have a couple of follow-on questions please. A question: We have an LLC set up already in a state w/ no state tax. We are not quite ready to move yet, but wondering if it would be easier to change the entity name, banking, and so on with the existing LLC, or better to close it and start fresh? For banking, we are considering Transferwise's multi-currency account. If you have not already done so, please consider covering Transferwise as a banking solution for entrepreneurs living abroad? Right now, it appears to be one of the few options we've found to-date. Just not totally sure how receptive they are to U.S. citizens because of all of the restrictions on us. Thank you.
Location Independence is not a pandemic-related thing. It has been a thing ever since reasonable internet connections became available. It seems that awareness of location independence is suddenly more common. It might be more beneficial to have an abroad company once you've gotten your back side outside
Quick question, if I'm operating abroad without being a us citizen but using a relative to set up a bank account under their name what kinda of process should I follow or what should I be worried about?
You better get an llc, and make sure you are listed a d set it up that they can not get a % or any of your money, etc.. plus they would be liable if anything happened..
I'm in the USA. My partner is in India where we are manufacturing our products. Do we form an LLC in the USA? We want to make sure the company shows as HQ in the USA with a branch in India as the same company. Do we need to do anything special to do this?
Great information for everyone. We are US citizens, living abroad, with an online business based back in the States. There are several people we have met here in Portugal who are from the US doing the same thing.
Hi!! I am living in Sydney, AU and have a small online business in USA (FL). How do you go about tax season? Do you have someone handle your taxes or do them yourselves? And does that impact your taxes in the country you are in? Thanks!
Hi Jim, i am from India currently worky in the UK, I am interested in starting an LLC as i am planning on doing some online courses for my students. Can I base it in one of the tax free states of the US?
If so kindly advise me as to what to do. Could you provide me with your mailing address so that i can liase with you
Thanks
Billy
Feel free to schedule a strategy call and we can talk it through: hartlawfirm.as.me/schedule.php?appointmentType=32582579
Thank you Jim for the helpful video!
You bet!
They are called Digital Nomads and thousands do it every year.
Sir,
Thank you. Im learning so much from you compare to others who are not patient to explain to me even they have a business presently. I plan to move back to the Philippines with my family. My wife is already a dual citizen, but I’m not. I just retired from the military and see a great opportunities to help others in the Philippines. With this in mind, I will need to have a side business registered in my wife’s name since I’m not a dual citizen, Filipino American, born in the U.S. still researching this information. Thank you again.
Don't start one there until you are there 6 mos. At least and make sure you are running it only ! Please...Take YOUR time
Very interesting video. I'd like to get more info about taxes when living in a foreign country. I always heard that if you live in two different places, you pay taxes where you live for more than 6 months. If you create a company in America but you live elsewhere for over 6 months, must you pay taxes in the other country? How does it work? The decision about paying taxes as an S-Corp makes things even more complicated, but I think it would be a good idea to create a video about taxes in general when you live elsewhere being the decision of creating an S-Corp part of it. If you want to grow your channel, maybe you could consider inviting a specialist in taxes. As you said, there is very little information about that on the internet so I'm sure you'd get lots of views :)
Excellent video..new sub and 👍 like
But what if you only want to use PayPal....I desire a business lisc. Overseas, as I'm going to be traveling full-time solo female motorcyclist, with a you tube channel and selling goods and services, not made in The usa... im trying to save as much in taxes as possible...
I'm selling my PayPal account
I'm interested in doing this. I am Canadian but have lived in the US so I have an SSN etc.
The entire process would be the same for me, correct? But would I need to obtain a visa to be able to operate my business in the US while living abroad?
Have you talked to a lawyer?
This is so helpful! Thanks, Jim! Would love more info on biz bank accounts & living abroad and just online business legal implications for digital nomads. Keep posting great videos!
We are moving overseas in July - I’m am probably going to start a separate channel to share our experience.
@@jimhart amazing! Can’t wait to watch. We are actually planning to move to Lisbon…I hear it’s hugely popular for digital nomads and expats
thank you so much this is so helpful! I hope this applies to me. Im an American citizen but living in Australia. hoping to register my business through America so I can have more opportunities
Best of luck!
Hi, this is my first year doing taxes for my small online business based out of FL but I live in Sydney, Australia. I am stressing out about doing my taxes right. Could you clarify what you mean by no taxes for the state of Florida? Thank you!
How long does it take to not be a California resident? I've lived in California my whole life recently moved overseas to ASIA I wanna form a LLC but do not want to form in California $800 annual fee looking at other cheaper states Wyoming how long do I need to be away from California not to be considered a resident ive heard if I form in another state I still need to pay tax to Cali.
Hello and thank you for this informative post. I have a couple of follow-on questions please.
A question: We have an LLC set up already in a state w/ no state tax. We are not quite ready to move yet, but wondering if it would be easier to change the entity name, banking, and so on with the existing LLC, or better to close it and start fresh?
For banking, we are considering Transferwise's multi-currency account. If you have not already done so, please consider covering Transferwise as a banking solution for entrepreneurs living abroad? Right now, it appears to be one of the few options we've found to-date. Just not totally sure how receptive they are to U.S. citizens because of all of the restrictions on us.
Thank you.
Why is Delaware not a good option for incorporating your LLC?
Not if you don’t live there
What about Mercury Bank?
I've heard of them but can't comment one way or another.
Location Independence is not a pandemic-related thing. It has been a thing ever since reasonable internet connections became available. It seems that awareness of location independence is suddenly more common.
It might be more beneficial to have an abroad company once you've gotten your back side outside
Doesn’t feel like there’s a lot of freedom lately.
No none, and in Calif I'm looking at almost 50 % or more in taxes... im going to try a business set up overseas..
Thank you so much for posting this! I live abroad and I am stuck on oponente a business account from abroad. Looking forward to your next video(s)!
Woah! Soooo helpful!!! THANK YOU!!!
You're welcome!
Quick question, if I'm operating abroad without being a us citizen but using a relative to set up a bank account under their name what kinda of process should I follow or what should I be worried about?
You better get an llc, and make sure you are listed a d set it up that they can not get a % or any of your money, etc.. plus they would be liable if anything happened..
Do I need to register "Foreign" ?
Thank you for this information sir.
Always welcome
Right On Time... Thank You!
Great video
I'm in the USA. My partner is in India where we are manufacturing our products. Do we form an LLC in the USA? We want to make sure the company shows as HQ in the USA with a branch in India as the same company. Do we need to do anything special to do this?