Discussion:Tax advantage of setting up a foreign company?
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Discussion Forum Index --> Advanced Tax Questions --> Tax advantage of setting up a foreign company?
Discussion Forum Index --> Tax Questions --> Tax advantage of setting up a foreign company?
| 13 May 2008 | |
| As a US citizen, is there US tax advantage by setting up a foreign company (assuming 100% owned by me) despite the 5471 filings, rather than simply be a sole proprietor and reporting the profits/loss on Schedule C and SE? If I set up and wholly own the foreign company, is there a way of structuring items such as the income/expenses/distributions on retained earnings/salaries received as directors etc., to avoid self employment tax, or is it supposed not to be subject to SE tax in such a case? | |
| 13 May 2008 | |
| You'd be far better off worrying about how much product you can get out the door tommorrow than questions like this. Get your company set up, keep it simple. Find a tax professional. Find yourself an insurance person too to discuss business insurance needs. As said in another context, there is no royal road to the learning of mathematics. | |
| 13 May 2008 | |
| Sounds very much like an offshore tax shelter...if you are a US citizen you should be ashamed....jmho that is.
Why not have a US corporation and have some tax advantages there for SE taxes? Why invest in a foreign corporation? AARRGGHHHH!!! | |
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