Actionable advice for moving abroad, visas, taxes. All the logistics of becoming an expat or digital nomad. Also remote team building and management from around the world.
CEO | Co-Founder of DropInBlog
I can help you make your business fully location independent. I can explain the process of transitioning to an expat lifestyle. The basics of the tax options and benefits. How to train your clients work only online with you. How to setup payment processing for your projects. How to find places to live and social circles abroad as a digital nomad or expat. I can teach you how to travel for extended periods while working.
I have 17 years of experience recruiting and managing expert remote team members via Upwork and other sources, maximizing efficiency and reducing cost.
I am not an accountant, but I do have a good understanding of this concept.
It works like this. If you are self employed there is a slef employment tax on all your income of 15%. This essentially goes toward social security and Medicare.
So let's say you make $100k in profit that means it's $15k in self employment tax.
If you instead become and LLC and file as an S-Corp then self employment tax goes away and is replaced with social security and Medicare on "wages" only. The company then pays you a "reasonable wage" of let's say $30k in this case, and then pays the other $70k out to you as "dividends". The $30k is subject to social security and Medicare which comes to a little under 15% with all things considered (~$4500) and the dividends are not.
This creates a rough tax savings of $10,500.
(Talk to your accountant for exact numbers and advice for your situation, this is just the basic concept.)
Here are some more resources on the subject:
Jesse's an awesome guy and he had plenty of great advice to give on building and managing a remote team. I'll be scheduling a call with him again, that's for sure. Would definitely recommend.
Thanks for your time
I had such an insightful session with Jesse. Being a developer I really appreciated the talk about how I can transition from just trading my time to forming a profitable business. Thanks for the great resources you recommended and also for sharing about your whole entrepreneurship journey up to now. It was super helpful. Hope to arrange for another call in the near future. Best of luck with DropInBlog!
Very knowledgeable. Extremely helpful. Excellent consultation!
Excellent guidance. Extremely helpful. Saved me a lot of time and money!
Great convestation! A lot of insights and ideas!!
So informative & helpful. Worth every penny.
Excellent call, received a lot of clarity and direction on the entire project from A to Z. Very informative and knowledgeable, would definitely speak again!
Excellent experience talking with Jesse, I'm going through a transition period with buying an ecommerce business and Jesse gave me direction in terms of SEO, outsourcing, paid traffic and some conversion rate optimisation. After speaking with Jesse I have a strong game plan in terms of moving forward. Will highly recommend speaking with Jesse to grow your business.
Jesse's vast observations, wisdom and experience around building and scaling remote teams were revelatory for where we're at right now in our rapidly growing business. His tips around effectively using Upwork for recruiting and managing remote team members in Eastern Europe were extremely insightful.
I had a wonderful call with Jesse. We talked at great length about the learnings he's had with a couple of his other web-related businesses. This helped put me on the right path for mine. It's so great to have somebody (1) Understand my challenges and (2) Give me solid, actionable advice. This call alone saved me dozens of hours of research!