been dealing with usa banks for about 10 years... not even an issue. as long as you never say you are working in the usa, then no tax... ever...
Do I need to pay taxes if I bank in the states?
- Thread starter RichieN
- Start date
Sorry about that .Didn't read it carefully enough .
I thought he works and earns in the U.S. So , he must be living in US .But that's wrong .
<== ex private bank relationship manager. Recommends offshore account billed in usd. Any costs incurred via swift / bank fees are a lot less than paying tax.
A lot of the tax dodgers I worked with would use charge cards to access their funds.
The bank RM would then settle all monthly bills by swift.
A lot of the tax dodgers I worked with would use charge cards to access their funds.
The bank RM would then settle all monthly bills by swift.
If you are in Asia. That is where your HQ is. But for the reasons you gave already about the costs of transactions. I would suggest opening up an account in Jamaica or any low to no income tax location. Why use the USA. This is NOT like you live in the USA so this is the farthest thing from FRAUD there is.
Listen to DumDum. Whether you have a bank account in the US is irrelevant to whether you have to file and pay US income taxes.
The 1st thing you need to find out is what kind of tax treaty the US signed with your country.
See if there is a double taxation issue. Normally you're supposed to declare your worldwide income in your home country, so there is no difference if you earn money locally, in the US or if you earn it in Zimbabwe, it still counts as "income" and you should be taxed for it at your country's rates. The United States "should not" tax you a 2nd time if you've already paid taxes in your home country for that income. (Unless the US didn't sign any type of agreement with your country... then they'll want their share. Check the link above)
See if there is a double taxation issue. Normally you're supposed to declare your worldwide income in your home country, so there is no difference if you earn money locally, in the US or if you earn it in Zimbabwe, it still counts as "income" and you should be taxed for it at your country's rates. The United States "should not" tax you a 2nd time if you've already paid taxes in your home country for that income. (Unless the US didn't sign any type of agreement with your country... then they'll want their share. Check the link above)
Shhhhh....that's tax evasion.
OP do you have a HSBC branch nearby? They can set you up with a good US funds account.
Also, if your networks are charging you a $35 fee for each wire tell them to go fuck themselves. You have all the leverage. Tell them to absorb the wire fee or you run your traffic elsewhere.
Not high today, but thanks for asking.
From IRS publication 519:
Nonresident Aliens
If you are any of the following, you must file a return.
A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during 2012.
Personal Service Income
You usually are engaged in a U.S. trade or business when you perform personal services in the United States. Personal service income you receive in a tax year in which you are engaged in a U.S. trade or business is effectively connected with a U.S. trade or business. Income received in a year other than the year you performed the services is also effectively connected if it would have been effectively connected if received in the year you performed the services. Personal service income includes wages, salaries, commissions, fees, per diem allowances, and employee allowances and bonuses. The income may be paid to you in the form of cash, services, or property.
If you are engaged in a U.S. trade or business, all income, gain, or loss for the tax year that you get from sources within the United States (other than certain investment income) is treated as effectively connected income. This applies whether or not there is any connection between the income and the trade or business being carried on in the United States during the tax year.
Yeah I do. Not sure if you mean a local multi-currency account or a HSBC account based in the US?
Banking in the US just seems to be way too complicated than I thought, I'll just stick with local banks.
Thanks everyone for the advice!
Local banks or payoneer and similar, all rest sucks.
Nope, huh, you can use offshore and similar, but not for your amounts
This all has nothing to do with people running their business from their home country. I have dealt with USA Banks for over 10 years, never an issue as I Do Not Live Or Work In The USA
As long as I do not visit or reside in the USA for more than 6 month's in a calender year then I only pay tax in my home country. The comments above do not apply, period.
Despite the ass raping the US gov't perpetrates on its slave-citizens daily, it's pretty much a tax haven for non-US slaves. Check with an accountant.