Forum Moderators: martinibuster
- are you able to do EFT?
- do you receive your checks in US$? if so, how long does it usually take to get there? any bank deposit issues?
- do you host your sites locally (in the babahas) or is hosting in the US OK?
- what are the US Tax issues?
Thanks
You will pay some sort of a tax. No matter what country you go to.
After considering this, why not hire a competent tax shelter accountant at a fraction of the cost to expatriation, or off-shore solutions?
Keep this in mind, as oddsod said, there are taxes and then there are income taxes. did you know that earnings on stock appreciation is often lower then the lowest income tax bracket?
Have you looked at bartering arrangements?
Did you consider something that appreciates, say real-estate, as a corporate asset? $income-$expense=$0 -- $0 tax. you will have to show some earnings, but still an excellent venue. this venue would also allow you to have future income options, even if your AdSense income disappears.
Have you looked at purchasing real-estate outside of the US?
And finaly, Belize.
yes. very interesting, isn't it? although there is still the possibility that these webmasters do not want to share their secrets of paradise! or they're not being vocal about it just in case the tax man is watching?
As Tapolyai suggests there are various alternatives. Holding assets may bring you depreciation benefits (as someone mentioned earlier). Moving assets - like websites - abroad to a country with low taxes and a no double taxation treaty may be worth exploring. Moving ownership of sites is easily done. In any event it would be wise to not take drastic steps purely on the strenth of anticipated Adsense income.
[edited by: oddsod at 3:53 pm (utc) on May 17, 2005]
Here in US it usually takes less than 10 minutes for one to receive emergency (EMS) care or be quickly transported/flown to an ER following an acute health crisis such as being involved in an accident, a heart attack, or a stroke. How such a crisis gets responded to within the glolden hour that follows can make a whole lot of difference in the overall prognosis.
If you have a family, or if you are planning on starting one in near future, you may want to consider these factors as well.
Obviously I'll eventually consult with an accountant or something, but anyone know if the US will tax you (or has the ability to) if you say, have dual citizenship and you move ownership of your sites to another country and start receiving your checks there?
The country I'm speaking of is Portugal, if anyone has any more detailed info regarding that.
I can't seem to find the post anymore.
[abcnews.go.com...]
he is crazy :)
No not that cabbie.
[webmasterworld.com...]
"I have never learnt anything but dreamweaver and then only basic stuff.Never bothered with seo either as google automatically liked my simple H1 text.
All my attention when i started, was spent on acquiring expired domains.
Luckily for me I bought a few hundred pr5 and pr6 domains when you could snap them yourself at $9 a pop.
Now all i do is sit in my house overlooking a beautiful tropical island in my new tax free country and get smarter people than me to run my sites.
"
actually it just takes b--ls. Many have done it by taking a gamble on houses even before they were built and sold them months later for a huge profit.
Sure, most of would like to have the maximum possible however how many of us are prepared to do absolutely "anything" with no social life and try and negate all responsibility?
Lifestyle balance comes into mind here guys/gals.
If money/profit is your sole goal and nothing else you live a very, very sad existence.
Do you really want to die the wealthiest person of whichever village/town/city/state/country who had never been to the local restaurant/bar and discussed the most mundane and ridiculous things in the world?
Hey, I just love doing that:-))
No. The changes of going to that restaurant or private island (with some hot girl/s too) are much, much higher if you're loaded.
"Just buy a million dollar house and get an interest only 3/yr/ARM. Those mortage payments are fully tax deductible. Sit on it for a few years and cash in. You should live in it for a couple of years to avoid capital gains if at all possible"
Unless you purchase a property of equal or greater value within 24 months the tax on the entire gain from the sale of a PERSONAL residence MAY be deferred. In other words if you cash out expect to pay capital gains. Rentals do not fall into this category. So in order to get your money out of a home you live in you must either sell and pay taxes or borrow and pay interest.
Why does everyone work so hard to avoid taxes. If you live within your means and be smart, taxes shouldn't be a problem.
"Unless you purchase"
Should be:
"Only if you purchase"
