Post Number: 13
|Posted on Friday, August 07, 2009 - 10:00 pm: |
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.
Post Number: 1897
|Posted on Friday, August 07, 2009 - 10:19 pm: |
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
Post Number: 160
|Posted on Saturday, August 08, 2009 - 7:59 pm: |
These guys take good care of me.
(Message edited by admin on August 09, 2009)