I am a Brazilian/US citizen and I am considering opening a business in the US to operate in Amazon FBA US. The problem is, I don’t know much about tax and if I will have to move to the US right away? Or what are the other options for me regarding incorporating in another country outside the US? Note: currently I live in Brazil.
So this is mostly my concern, and I believe it will probably cover way more questions that I have now. So I would like to hear from an expert regarding incorporating in another country as well as the US, foreign tax laws and US tax laws for corporation, IRS files…
Thank you, and I will await for a response to further proceed with an expert call. (just wont to make sure I find the right person who truly knows about these questions)
Best option is H&R Block Executive Tax services.
They're way cheap, compared to accountants.
More importantly, their agents are required to go through courses + develop competency on every change to US tax code.
Since you have US citizenship, you'll be taxed on 100% of your world wide income.
To optimize your tax payments, search Clarity for postings about "Transfer Pricing" made by me previously + others.
Also, compare H&R Block tax services (as noted by previous response) with Legal Zoom. They are an online based legal service which specializes in business incorporating services, along with legal services. H&R Block could certainly answer your questions about tax liabilities in other countries, but Legal Zoom can answer your questions regarding incorporating in those countries and the process in order to do so. Thanks.
As a U.S. citizen, you always need to be mindful of your U.S. tax filing obligations, regardless of where you live or where you earn income. U.S. citizens are subject to income taxes on their worldwide income. If you live abroad as an expat, you may be eligible to take a foreign earned income exclusion for wages paid to you whilst you are physically present outside of the U.S. If you are looking to run an Amazon FBA business, you need to be mindful of the U.S. federal income tax obligations, as well as the state sales tax obligations that may arise depending upon your sales volume in each U.S. state. I would recommend consulting with an international tax CPA or tax attorney that can advise you on these various tax issues.