I wish I could use the same shenanigans that these companies get away with using to avoid paying their taxes. I could just imagine my conversation with the IRS:
"No, no, no, IRS, you don't understand! My employer didn't hire me. They hired my fictitious doppleganger who lives in the Bahamas, where there's no income tax. I license my name and know-how to him for a monthly fee. My invisible clone then does all the work remotely and earns the pay check. But, since we're really the same person, he should be able to transfer those earnings here to me tax free! Why should I have to wait for a tax holiday to use all this money? It's so unfair!!!"
These companies pulling this B.S. need to man up and pay their taxes like the rest of us.
If you lived in a different country for 3 months of every year, and you had a job, dual-citizenship, and bank account there, would you bring your money back to the US every time you came back so that the IRS could have their share? Or would you wait to spend it the next time you were away?
In the US we (individuals) pay taxes on our worldwide incomes. You'll have to file with the IRS every year and claim this income. There's no need to "bring your money back" for the IRS to get its share.
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I wish I could use the same shenanigans that these companies get away with using to avoid paying their taxes. I could just imagine my conversation with the IRS:
"No, no, no, IRS, you don't understand! My employer didn't hire me. They hired my fictitious doppleganger who lives in the Bahamas, where there's no income tax. I license my name and know-how to him for a monthly fee. My invisible clone then does all the work remotely and earns the pay check. But, since we're really the same person, he should be able to transfer those earnings here to me tax free! Why should I have to wait for a tax holiday to use all this money? It's so unfair!!!"
These companies pulling this B.S. need to man up and pay their taxes like the rest of us.
If you lived in a different country for 3 months of every year, and you had a job, dual-citizenship, and bank account there, would you bring your money back to the US every time you came back so that the IRS could have their share? Or would you wait to spend it the next time you were away?
In the US we (individuals) pay taxes on our worldwide incomes. You'll have to file with the IRS every year and claim this income. There's no need to "bring your money back" for the IRS to get its share.