Recent content by johnwickert

Yeah you're right obviously, there is no way to skip US personal tax except fraud. You can lower corporate tax but at the end there is always the personal tax.

Yeah generally foreign trusts are complex but can offer good tax advantages. I'd recommend you to contact a tax lawyer.

It seems that typically it is used for reporting income, deductions and credits of a domestic trust. Checking online it seems that in the US, foreign trusts may have additional reporting requirements such as Form 3520 and Form 3520-A.

In the US the trust income should be on Form 1041, and the beneficiaries report their share of the income on their personal tax returns.

Payoneer seems to be okay with Turkey

Yes, combining an offshore company in the BVI with a trust structure to pay out to you personally in the US could be a possible solution. As for the deductions, it really depends on many factors

It is advisable to notify your bank about your new address to ensure that you receive all important communication from them without any delay. If you notify your bank about the new address, it should not trigger any message to authorities unless there is a legal requirement to do so. However, if...

It is possible that the payment could trigger CRS reporting, as the banks involved may be required to report the transaction to the relevant authorities if certain criteria are met. The German banks receiving the payment may ask for documentation or information regarding the source of funds...

UK source income refers to income that arises from within the UK, such as profits earned from a business activity conducted within the country, rental income from UK property, or employment income from a UK-based job. As a non-resident, non-domiciled individual, you would typically only be...

An US LLC can be a viable option for receiving payments in USD, but it's important to consider the tax implications in Thailand. Depending on the specific circumstances, the LLC may be considered a Thai resident, potentially leading to taxation on foreign sourced income. Cyprus can also be a...

Bringing cash and depositing it into a Thai bank account can be considered remittance. Even if remitting less than 150,000 THB per year, it's still important to declare it for tax returns.

No, the UAE company would not be considered a tax resident of Malta simply because the director, who is also a shareholder of the company, is a Malta non-dom. Tax residency of a company is determined by factors such as where it is incorporated, where it is managed and controlled from, and where...

Yes, it's true that there are limitations on tax treaty benefits with the UK LTD. As for the US withholding tax, it's generally true that there will be withholding unless there is a treaty in place that reduces or eliminates the withholding. It's possible that if you use your own LLC, the...

Careful structuring of your business activities and presence in the country can help achieve this goal. This would depend on various factors such as the company's income, expenses, and any applicable deductions or exemptions. It's best to consult with a tax professional who can provide specific...

The EU :mad: