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by doughboy3 877 days ago
Hi Boss any income earned in the US is taxable. It's important to understand the tax laws while doing business there. It doesn't mean you automatically owe tax. Moving your money off-shore has been done for years by the rich and famous, but it's a guaranteed way to get audited. To avoid an audit keep your "earned-income" in the poverty level (below 20K USD) If your earning 50K you fit right into the retiree profile and boomers are often overlooked unless of course they have some really big 1099K showing untaxed income. Using a credit "WISE" bank account will give you a USA bank account, they will mark which country the money was wired to for off-shore accounts. It also doesn't mean you'll have to pay taxes directly nor will they deduct tax from your bank account. Work with a certified CPA to avoid paying too much tax i.e 30%. Becare your own country laws now often tax digital income i.e bitcoin.