The only way you can get out of paying US taxes on your business revenue is if your business is established in another country as a corporation taxed as such in that country. Anything you pay yourself as wages or dividends from that business will be taxable by the IRS as income from that business, regardless of where it resides. But the nonresident corporation can retain its revenue unassailed by the IRS and reinvest it, use it to pay expenses, etc, as I noted. If you go so far as to obtain dual citizenship you may have to pay income taxes in both countries. Also, I don't actually know what the corporate taxation situation is in Panama or CR (for instance) - you'd of course need to do that DD going in - find a good english-speaking corporate or tax attorney in country and pay him to guide you.
You're going to pay the Man down the line somehow, wherever it may be.
"I have heard you can be exempt to up to 91,400$ in taxes if you can prove you lived and made the money outside the US for that whole year."
Right. Hmm, I am not sure how that might factor in if that income is derived from a foreign business entity that you owned or had a share of.
You're going to pay the Man down the line somehow, wherever it may be.
"I have heard you can be exempt to up to 91,400$ in taxes if you can prove you lived and made the money outside the US for that whole year."
Right. Hmm, I am not sure how that might factor in if that income is derived from a foreign business entity that you owned or had a share of.
"If The Fool persists in his Folly he will become wise." - William Blake