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Zander
New member
Username: Xanpatagon

Post Number: 13
Registered: 12-2007
Posted on Friday, August 07, 2009 - 10:00 pm:   Edit PostPrint Post

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
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Roberto
Board Administrator
Username: Admin

Post Number: 1897
Registered: 12-2004
Posted on Friday, August 07, 2009 - 10:19 pm:   Edit PostPrint Post

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.
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Living in Patagonia
Intermediate Member
Username: Soulskier

Post Number: 160
Registered: 9-2008
Posted on Saturday, August 08, 2009 - 7:59 pm:   Edit PostPrint Post

These guys take good care of me.

http://taxmeless.com/

(Message edited by admin on August 09, 2009)

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