| Author | Message | ||
     Zander New member Username: Xanpatagon Post Number: 13 Registered: 12-2007 |
Hello Expats, Can anyone point me to good info or adviser on the US tax situation if I were to operate a business that was incorporated outside the USA (not Argentina). I know I have to report any corporation I "control" to the IRS, and that it has to pay taxes to the US. And that I can take a US tax exemption of $80,000 salary if I live outside the US. I have questions like... ** Is the expat exemption valid if the salary comes from a foreign company I own? ** If my foreign corporation pays me a salary, does it have to pay Social Security Tax to the IRS? ** Do I personally have to pay Social Security Tax from income from a foreign corporation I own? If someone can point me in the right direction it would be appreciated. Thanks | ||
| Roberto Board Administrator Username: Admin Post Number: 1897 Registered: 12-2004 |
Someone with more specific knowledge may respond but while we wait, I am thinking that if you receive income -any income- from a foreign corporation whether you own it or not, THAT is a "taxable event" and all US tax laws apply aside from the expat exemption, therefore you may still have to pay social security tax. But this is just a guess. | ||
| Living in Patagonia Intermediate Member Username: Soulskier Post Number: 160 Registered: 9-2008 |
These guys take good care of me. http://taxmeless.com/ (Message edited by admin on August 09, 2009) |
