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Reply To: It’s Tax Season

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#662103
Anonymous
Inactive
Stupid wrote:
Dom, you seem to know the laws, so I would like to ask you:

Wouldn’t it make more sence to incorporate in the Kaymans, for example, which is pretty cheap, and save yourself:

1. Thousands of tax dollars
2. CPA fees, and other business related fees
3. Explanation where you get the money from, especially when our industry could become illegal any time – let’s not forget that we do not sell tomatoes and cucmbers :)

NO – if you earn money while living in the US you are subject to federal taxes even if your company is based in a tax free country. Most of those business fees are tax deductable anyway so dont worry about those type fees adding up.

Additionally, try not to pay too much attention to someone who has a comment on anything and everything. Even though they seem to always write in a matter of factual way its all their interpretation and should not be taken too serious.

Finally, by all means, if you do not understand whats going on you should seek the assistance someone that does.