The Digital Nomad lifestyle is all the craze. After all, who wouldn’t want to run a business from a beachside bar in Bali. Before embarking on a career and lifestyle change, it is vital to consider all angles, which, for U.S. citizens, includes tax obligations. As a U.S. citizen or Green Card holder, you are required to file a tax return declaring your worldwide annually, no matter where you reside.
Taxes For Expats has written many easy to digest tax guides on many topics, but this one is especially relevant considering this lifestyle. Have a look at their comprehensive Digital Nomad Tax Guide where they cover all of the following and more:
Article written by Ines Zemelman, Taxes For Expats
(Photo by novecentino via Flickr)
- As a digital nomad, which countries you should consider as your home base? Hint: Not all countries are made equal (for this exercise).
- How you can exclude over $100k of your income (and what potholes to avoid to ensure you do not lose this ability).
- If you are self-employed, how you should receive your checks. Does it make sense for you to incorporate your business abroad?
- Aside from filing tax returns, are there any other forms you may have to file with the IRS/Treasury?
- If you spend the year traveling and have no address, what is your address?
Article written by Ines Zemelman, Taxes For Expats
(Photo by novecentino via Flickr)
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