Starting a small business
in Business, Accounting & Taxes ·
I'll be moving back to the States from abroad soon, and I’m effectively bringing my job with me. The IT firm I’ve been working for overseas still wants me on the team and has offered me a remote role I can perform right from my home here in the US.
The company plans to deposit roughly $2,200 into my account on the 20th of every month (they mentioned it doesn't matter where the account is located or what type it is).
Now, I’m looking for some advice.
Should I register as a sole proprietor under the Small Business Act, or should I just have them deposit the funds into my foreign account, which I could then withdraw here in the US without any tax implications? Or perhaps I could transfer the money from my foreign account to my future US business account once the company pays me—effectively "cheating" the government out of its tax base?
I should clarify: I’m only considering these ideas because I see the massive frustrations local entrepreneurs face here in America.
I don't actually intend to act this way. I would much rather delay my return to the US and continue paying taxes to a country that isn't mine than get involved in those kinds of schemes.
What kind of credentials do I need to open a small business to provide services that American lawmakers likely don't even understand yet? Since we're talking about IT work, can I qualify for a business license based on a degree in web programming or something similar?
My goal is to do everything by the book, but I have no interest in funding the inefficiency of US institutions.
I left my previous home specifically to get away from those remnants of the old socialist self-management era, and I don't want to deal with that again.
I’m married with two kids, and my wife is currently unemployed.
From what I gather, setting up a small business seems like the most practical and honest route.
Thanks in advance.
The company plans to deposit roughly $2,200 into my account on the 20th of every month (they mentioned it doesn't matter where the account is located or what type it is).
Now, I’m looking for some advice.
Should I register as a sole proprietor under the Small Business Act, or should I just have them deposit the funds into my foreign account, which I could then withdraw here in the US without any tax implications? Or perhaps I could transfer the money from my foreign account to my future US business account once the company pays me—effectively "cheating" the government out of its tax base?
I should clarify: I’m only considering these ideas because I see the massive frustrations local entrepreneurs face here in America.
I don't actually intend to act this way. I would much rather delay my return to the US and continue paying taxes to a country that isn't mine than get involved in those kinds of schemes.
What kind of credentials do I need to open a small business to provide services that American lawmakers likely don't even understand yet? Since we're talking about IT work, can I qualify for a business license based on a degree in web programming or something similar?
My goal is to do everything by the book, but I have no interest in funding the inefficiency of US institutions.
I left my previous home specifically to get away from those remnants of the old socialist self-management era, and I don't want to deal with that again.
I’m married with two kids, and my wife is currently unemployed.
From what I gather, setting up a small business seems like the most practical and honest route.
Thanks in advance.