Apr 10
19

Do You have to pay taxes in the United States, If you started a home based business in USA but then moved?

2 Comments

outside the USA

How about if its an Internet business that has nothing to do with USA or any particular country but is open to worldwide or atleast to the country you will move to. But you started in US but then moved to say Italy or any other country.

Also this is if your not a US Citizen. (green card holder)
What the hell this is ridiculous. Why do I need to pay this government money when I don’t live in it. That doesn’t make any sense. This is the stupidest law ever. So I have to pay double taxes now

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This entry was posted on April 19, 2010 at 11:20 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Reputable Green Business Opportunities by Green Business Opportunity Review 2 Comments

2 Responses to "Do You have to pay taxes in the United States, If you started a home based business in USA but then moved?"

  • shoredude2 says:
    April 19, 2010 at 11:20 pm

    If you want the benefits of having a green card, they don’t come free.

    All US citizens and permanent residents are liable for taxes on all worldwide income. If you pay taxes on that income in another country, you can make adjustments to avoid double taxation.

  • bostonianinmo says:
    April 19, 2010 at 11:20 pm

    US citizens and lawful permanent residents, i.e. Green Card holders, are subject to US taxation on their world wide income regardless of where they live or where the income is earned.

    If you meet the requirements you may be able to exclude some or all of your EARNED income from US taxation if you live outside of the US, using Form 2555. Alternatively you may claim a credit on your US tax return for any foreign income taxes paid, using Form 1116.

    See IRS Pub 54 for further information.

    No, you do NOT pay double taxes. Go back and read what I wrote. You might be able to exclude the income from US taxation OR take a credit for the foreign income taxes paid. Either way, you avoid double taxation.

    If you don’t like the law, you are free to surrender your Green Card and leave permanently. Depending upon how long you’ve held it, you may be free of US taxation immediately. Your choice.

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