0 sats \ 4 replies \ @davidw OP 6 Jan \ parent \ on: The Law That Will Ruin The U.S. Tech Software Industry 🇺🇸 tech
Bingo!
Seems to me, despite the pool of talent, exclusively basing your business from the U.S. may be a huge liability from here on out. Especially when you could likely recruit U.S. engineers from afar. The IRS is actively torching their 'golden goose', if this doesn't get unwound. I guess those 85,000 agents need to do something to fill their miserable days.
honestly for those small / bootstrapped companies, I assumed all they want is
a. register a company
b. being able to charge with Stripe or other payment processors
c. being able to pay the employees
d. low tax or with benefits
There are so many options out there, but yeah, you might need to be more creative if you are Americans; But the best way is always to live out of your home country ( if you can ), and being a guest somewhere; Register companies in a place that doesn't annoy you that much - yet many people planning everything default with their home country.
reply
Yes, sometimes when going abroad you can get treated like a customer instead of a cow 🐄 😄
Unfortunately if you are an American, unless you renounce your citizenship (which is almost certainly more trouble than it's worth), you are required to pay taxes regardless of whether or not you are living in the US. Even if you are paying taxes as someone living in and running a company in another country, you're still required to be paying taxes to the US.
AFAIK, the US is one of, if not the only country, with such rules. It's ridiculous.
reply