Claudia Moncarz on How to Save on Taxes as an International Entrepreneur
Finding a tax attorney that is willing to help you with your international business is not easy. Every once in a while you can find one that will actually be proactive in helping you avoid paying too much in taxes. Claudia Moncarz is one of them. Claudia is originally from Panama, but has traveled the world, and is now stationed in Miami. In this episode we dispel some of the common misconceptions about international tax law and go over some things you need to do when operating a location independent business. You can find out more information about Claudia at her website http://claudiamoncarz.com/.
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What does offshore mean? (3:40)
Why would someone want a foreign bank account? (7:10)
Why would you need an foreign corporation? (9:50)
At what point does it make sense to set up an international corporation? (15:30)
How to file when living abroad (19:30)
Common tax law misconceptions (27:45)
When you need to file an FBAR form (30:00)
Tax advantages of living in Puerto Rico (33:30)
At what income you have to file a tax return if you are living abroad (36:17)
Your business should fit your purpose (38:15)