New York Taxes

Vin

New member
Feb 10, 2007
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Hi All,

Currently based out of Amsterdam, I'm considering making the jump over to the U.S., NYC in particular. However, the U.S. TAX system totally confuses me.

If somebody, based out of New York could help shed some light on the case that would be greatly appreciated.

So, firing off.

1. Which corporate form would be the best to protect yourself as well as the most beneficial TAX wise.

2. If you do 400k in annual profits, how much is there left after taxes, if I'm the only person working in the company?

Thanks in advance for the help :)
 


Or if you are worried about taxes then NY is one of the worst states to move to especially if you are doing internet business. If you must live in nyc to do work then incorporate in Delaware, make place of residence in a no-income tax state, and then just live in ny. To be honest many entrepreneurs have moved out of NYC because it is very expensive to live, has high taxes, and it gets old having to walk or ride subway everywhere especially on cold days.
 
Or if you are worried about taxes then NY is one of the worst states to move to especially if you are doing internet business. If you must live in nyc to do work then incorporate in Delaware, make place of residence in a no-income tax state, and then just live in ny. To be honest many entrepreneurs have moved out of NYC because it is very expensive to live, has high taxes, and it gets old having to walk or ride subway everywhere especially on cold days.

Agreed 100 % .
 
Thanks for replies.

Visa shouldn't be a problem, if you're self sustainable. With all the people that get into the country. An entrepreneur doing business in the U.S. shouldn't be too much of a problem.

Looking at multiple options. Some Caribbean island offer 2% TAX if you live there for more then 6 months in a year. So enjoy the sun, for 6 months a year, then move to new york for the other 6 months, minus one day to enjoy all it's amenities.

But, the the New York TAX question still remains unanswered. If somebody could lend a hand, I appreciate it.
 
Thanks for replies.

Visa shouldn't be a problem, if you're self sustainable. With all the people that get into the country. An entrepreneur doing business in the U.S. shouldn't be too much of a problem.

You are ignorant about immigration laws of USA. Getting permanant residency in US will be your biggest headache. Sort that out first with the immigration attorney. Your tax question is secondary.
 
You are ignorant about immigration laws of USA. Getting permanant residency in US will be your biggest headache. Sort that out first with the immigration attorney. Your tax question is secondary.

Actually, he would need to decide those at the same time as residency has serious tax implications.
 
You are ignorant about immigration laws of USA. Getting permanant residency in US will be your biggest headache. Sort that out first with the immigration attorney. Your tax question is secondary.

Exactly. I know people who aren't even allowed to VISIT the US, because they are "at risk" to not leave the country (and they are VERY wealthy Brazilians and Spaniards.)... So good luck on the Visa... You will need it.
 
I would just elaborate a little more on permanant residency since I have first hand experience in this matter. As a self-employed individual you have very limited options:

1. Qualify under EB-5 permanant residency category where you will be required to make an investment of $1 million in some sort of business and employ 10 US citizens. The above numbers are likely to vary somewhat based on the individual situation.
2. Green Card Lottery. There is a green card lottery raffle every year for 55,000 permanant residency. Each country has a quota and if you consider yourself lucky try it out.

This is pretty much it. Other options require an employment in US company which is clearly not your goal.
 
Don't forget option #3, find some desperate american chick to marry for citizenship.
 
I would just elaborate a little more on permanant residency since I have first hand experience in this matter. As a self-employed individual you have very limited options:

1. Qualify under EB-5 permanant residency category where you will be required to make an investment of $1 million in some sort of business and employ 10 US citizens. The above numbers are likely to vary somewhat based on the individual situation.
2. Green Card Lottery. There is a green card lottery raffle every year for 55,000 permanant residency. Each country has a quota and if you consider yourself lucky try it out.

This is pretty much it. Other options require an employment in US company which is clearly not your goal.

3. E2
 
You should definitely be talking to a CPA/tax attorney/immigration lawyer about this, especially if you are making $400k/yr. But you might want to look into the traditional "tax havens," since you are not an American citizen and most of the disadvantages don't apply to you. Definitely ask your tax attorney about how that could work.
 
Hi All,

Currently based out of Amsterdam, I'm considering making the jump over to the U.S., NYC in particular. However, the U.S. TAX system totally confuses me.

If somebody, based out of New York could help shed some light on the case that would be greatly appreciated.

So, firing off.

1. Which corporate form would be the best to protect yourself as well as the most beneficial TAX wise.

2. If you do 400k in annual profits, how much is there left after taxes, if I'm the only person working in the company?

Thanks in advance for the help :)

1. An S Corp or an LLC

2. Depends on how you structure your business and how much you write off (you can write off a lot)
 
Why would you want to come to New York if your "job" is affiliate marketing? You can do it from anywhere in the world, why don't you go somewhere warm?