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International income

Taz

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Sep 15, 2019
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If I have a business, or I am getting an income stream from outside of the U.S, am I still subjected to regular income tax here? How can I get around this? Is it possible to set up a bank internationally and use the money from the U.S?
 

GlobalWealth

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This is a complex topic.

If the income runs thru your US entity then yes, it is fully taxable in the US.

There are options to minimize, but unless you are earning at least 6 figures it won't be worth the cost to set up the proper structure.
 
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Taz

New Contributor
Read Millionaire Fastlane
Sep 15, 2019
37
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17
This is a complex topic.

If the income runs thru your US entity then yes, it is fully taxable in the US.

There are options to minimize, but unless you are earning at least 6 figures it won't be worth the cost to set up the proper structure.
Now the proper structure you're talking about is for purposes to reduce your taxes? Or to make the money you're making "legal" in the U.S.
 

GlobalWealth

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Now the proper structure you're talking about is for purposes to reduce your taxes? Or to make the money you're making "legal" in the U.S.
Reduce taxes.

Your 2nd comment makes no sense.
 
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Taz

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Reduce taxes.

Your 2nd comment makes no sense.
So what I meant by that was that I wouldn't want to seem suspicious with a lot of income coming in from overseas with no business system in America.
 

GlobalWealth

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So what I meant by that was that I wouldn't want to seem suspicious with a lot of income coming in from overseas with no business system in America.
There is no issue with that
 
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