Offshore Incorporation 101 For Internet Business Owners

TMBA26 – Offshore Incorporation 101 For Internet Business Owners

Link: Tropical Talk Radio

 

Get accountants and bookkeepers early on.

Get a bookkeeper in year one.

Get an account when you have employees and inventory.

International tax consultant only if really needed.

Foreign Earned Income Exclusion Act excludes about $97k in personal income if you’re outside the U.S. for at least 330 days a year or by qualifying for residence.

You can look into foreign subsidiaries. You can leave profits in those companies indefinitely.

If you’re going to be doing business offshore you want to have an entity in a respectable location that your customers will want to do business with.

You have to tell the U.S. government about every bank account that you open.