As one of the perks of eCommerce is the ability to run your business anywhere there is internet access. Every day more entrepreneurs are choosing exotic locals to establish as their home base. This trend is raising interesting questions for many entrepreneurs based in the U.S. and abroad about how the taxes are calculated. Which tax laws apply to eCommerce business owners who are U.S. citizens that live outside of the U.S.? do they owe the IRS, or would their taxes go the country that they are currently based out of? By answering these and other questions, many entrepreneurs are finding out what options are available to them.
My guest, Andrew Henderson, is the founder of NomadCapitalist.com and The Nomad Society. Andrew is an international entrepreneur and perpetual traveler, searching the globe for the best places to live, invest, and start a business. With his private online club, The Nomad Society, his members receive access to valuable training and contacts that can help them internationalize their lives and their businesses. Listen in, as Andrew shares valuable tips, where he feels the best places worldwide to invest are, as well as his path to a successful nomad lifestyle. You will not want to miss this episode!
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Here’s What You’ll Learn
- What the foreign earned income exception is.
- How you can exempt yourself from 100-200k in income tax.
- Why the U.S. is making it harder for people to be globally competitive.
- How you can get a 2nd passport.
- The 4 foreign currencies that Andrew feels are the best bet for diversifying.
What Was Mentioned
This Week’s Winner
Congratulations to Destiny Ray of HarperandHadley.com for winning this week’s eCommerceFuel shout out!
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