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Originally Posted by Fake Nick
yeah , thats the idea , I would just do what I do now ,online marketing , and travel ,it doens't really cost that much to travel and I wouldn't have to pay income tax , I have been playing with those thoughts now for long time , it seems like a great way to travel the world and not pay tax  |
Fake Nick - if your "home country" is not the US, there is little problem. The only two problem areas, if they are that, are:
(a) you are a US citizen you are obliged to pay taxes on worldwide income irrespective of where you happen to live.
(b) it is wise to check out the tax rules in your home country re "foreign living". It is often OK to visit your home country on a sliding scale.. like one month/year to start and then increased to 2 months or so after a year or two, - else you may be subject to taxation in your home country for any funds brought into that country from foreign earnings.
Many countries have a geographical tax system - that means, any money earned from outside these countries is not taxable when you bring it into the country. Stuff like net earnings are OK. These are strictly speaking not offshore because locals still pay taxes - but you are exempt in that instance. Latin America is an example.
Then there are genuine offshore's with nada taxes and nada paperwork.