- 11,457
Which is true... you cannot be in a foreign country soliciting their citizens for insurance that you and the company are not licensed to sell or solicit.
Moving abroad as a life/DI agent
- Thread starter toughcookie
- Start date
- 25,946
Bump
So, my VPN is renewing this month.
IPVanish. $90.
I do not like it. Seems to get me blocked from to many sites or is glitchy.
I travel a bit. Hotels, airports and coffee shops.
What is everyone else using?
So, my VPN is renewing this month.
IPVanish. $90.
I do not like it. Seems to get me blocked from to many sites or is glitchy.
I travel a bit. Hotels, airports and coffee shops.
What is everyone else using?
NordVPN and ExpressVPN. You need 2 in SouthEast ASia. However, I would check expat facebook groups of the country you plan to live. They would have a better idea which VPN works better in that country. It varies.
China, Japan Korea need multiple software and constant switching to make it work.
China, Japan Korea need multiple software and constant switching to make it work.
- 25,946
Mainly in the US but short visits abroad.
Nord VPN.
I used to use PIA (private internet access) and it will slow your connection down but was super cheap.
FWIW, I was just in Europe for a few weeks and it seemed like some carrier sites required me to switch it off to get functionality while I couldn't access others without it on.
I'm not sure if Nord was the culprit or if the sites are just sensitive depending on where you are and how you access them.
- 25,946
Cool, Thanks.
My current one just seems to be more and more problematic. Even in town.
No issues with NordVPN in USA or Canada, but I also have to toggle it here and there overseas. If you plan to use it in China or Borat's homeland Kazakhstan you need to get VPN installed before. They actually block you from purchasing once you are inside the country.
And while you are checking expat groups (as someone suggested) ask them how they handle their taxes if they have a business address in a USA state doing business in the USA.
You need to make sure you have chosen the best way to "legally" be a business if you are having a business address and live out of country (eg don't live at that address). If you are sole proprietor out of country with a business addresses in country because your business and personal income/taxes is co-mingled you may or may not have a tax nightmare depending on the country you live in (a few countries tax you on income you earn anywhere in the world and some treat business and personal income differently). Generally the USA taxes you on income earned world wide. You'd have a paper trail of your income due tax forms you'd get for your commissions so no escaping that for USA or state taxes. You might be able to hide from taxes in the foreign country you are living in (better not to do that so you aren't deported though).
If you were an LLC and you were the only member of that you would you'd have "pass through" (USA) taxation and so your taxes would be reported on your personal IRS tax return. You may or may not need to file a schedule C for business income (single owner which, for tax purposes is more or less viewed as a sole proprietor vs Schedule E if the LLC has more than one partner/owner - I don't know if a spouse as the other owner means schedule C or E. I *think* you'd have to file a C and form 8858 if it was just you). Your 1099 is a 1099-NR (non resident). But foreign countries would also tax your LLC and some of them have steep taxes. Your LLC can be a S-corp or a C-corp or neither (eg sole proprietorship). That impacts which USA tax forms you file.
There are other business forms you can incorporate as. You'd need to look into the pros and cons of each for tax purposes.
If you are an independent contractor via whom you are selling for that also changes what the tax issues may or may not be, especially since you need a USA local business address but that is not your residence.
If you are self employed that changes it as well. Since you need a USA address for your business and you will be living out of country self employment is likely out as a choice since you can't be an "employee" of yourself without a legal business to flush that through. The upshot is you will need to look into how to register your business.
Other issues:
1) You may or may not have to pay taxes to the country you live in.
2) Each state has rules about taxes on LLC'a and you may have to pay state taxes (so it would be worth choosing a state that minimizes that even if it means expanding where you are licensed to do business; for that matter choosing a state that has no personal state income tax would help personally although perhaps not for your business)
I'd strongly suggest talking with both the IRS (yeah I know you can be on hold forever so if there is a local office go in person) and an enrolled tax professional (not just one who is in business during the tax season) whose speciality is expat taxes and has dual qualified for the USA and the country you are planning to live in as they'd know about tax treaties, etc. that are relevant to your situation (so ask about that on an expat forum to see whom they suggest). You may be eligible (either on your business or individual income) for a variety of foreign tax exclusions and/or credits.
Disclaimer: I am not a tax expert - I am only bringing up potential issues to think through carefully before doing this so you can make the best choices. I took my tax class years ago and have not practiced as a tax professional. I am not an accountant either; rather I took that class as I was forced to take electives in areas I didn't want to so I decided that class would be personally useful and I'd suffer through it (I was focused more on management); I have not kept up in that field other than how that affects me personally or start up businesses in the USA.
You need to make sure you have chosen the best way to "legally" be a business if you are having a business address and live out of country (eg don't live at that address). If you are sole proprietor out of country with a business addresses in country because your business and personal income/taxes is co-mingled you may or may not have a tax nightmare depending on the country you live in (a few countries tax you on income you earn anywhere in the world and some treat business and personal income differently). Generally the USA taxes you on income earned world wide. You'd have a paper trail of your income due tax forms you'd get for your commissions so no escaping that for USA or state taxes. You might be able to hide from taxes in the foreign country you are living in (better not to do that so you aren't deported though).
If you were an LLC and you were the only member of that you would you'd have "pass through" (USA) taxation and so your taxes would be reported on your personal IRS tax return. You may or may not need to file a schedule C for business income (single owner which, for tax purposes is more or less viewed as a sole proprietor vs Schedule E if the LLC has more than one partner/owner - I don't know if a spouse as the other owner means schedule C or E. I *think* you'd have to file a C and form 8858 if it was just you). Your 1099 is a 1099-NR (non resident). But foreign countries would also tax your LLC and some of them have steep taxes. Your LLC can be a S-corp or a C-corp or neither (eg sole proprietorship). That impacts which USA tax forms you file.
There are other business forms you can incorporate as. You'd need to look into the pros and cons of each for tax purposes.
If you are an independent contractor via whom you are selling for that also changes what the tax issues may or may not be, especially since you need a USA local business address but that is not your residence.
If you are self employed that changes it as well. Since you need a USA address for your business and you will be living out of country self employment is likely out as a choice since you can't be an "employee" of yourself without a legal business to flush that through. The upshot is you will need to look into how to register your business.
Other issues:
1) You may or may not have to pay taxes to the country you live in.
2) Each state has rules about taxes on LLC'a and you may have to pay state taxes (so it would be worth choosing a state that minimizes that even if it means expanding where you are licensed to do business; for that matter choosing a state that has no personal state income tax would help personally although perhaps not for your business)
I'd strongly suggest talking with both the IRS (yeah I know you can be on hold forever so if there is a local office go in person) and an enrolled tax professional (not just one who is in business during the tax season) whose speciality is expat taxes and has dual qualified for the USA and the country you are planning to live in as they'd know about tax treaties, etc. that are relevant to your situation (so ask about that on an expat forum to see whom they suggest). You may be eligible (either on your business or individual income) for a variety of foreign tax exclusions and/or credits.
Disclaimer: I am not a tax expert - I am only bringing up potential issues to think through carefully before doing this so you can make the best choices. I took my tax class years ago and have not practiced as a tax professional. I am not an accountant either; rather I took that class as I was forced to take electives in areas I didn't want to so I decided that class would be personally useful and I'd suffer through it (I was focused more on management); I have not kept up in that field other than how that affects me personally or start up businesses in the USA.
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Just to make a correction here, IRS can not give you tax advice. If you call them or meet with them at their office, any advice they give you verbally does not hold any water at tax court in a dispute. IRS only administers the tax law. You can only hold IRS liable for tax advice they give you thats in writing. Thats usually a private letter ruling and it wont apply for the most of people here. Frankly most countries are not that complicated except Canada. Canada wont accept S corp or LLC even though there is a tax treaty. And as US citizen, keep all your investments with US based brokers. Buying a foreign mutual fund is tax nightmare for US citizens. It will make your accountant rich. BY the way Trump as a campaign promise said he is getting rid of these requirements for US Expats living overseas. Lets see what happens.
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