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  1. #1
    ABW Ambassador Snib's Avatar
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    It's been my dream all this year since I started affiliate marketing that I can be free of my job and move somewhere remote. I'm finally going to live this dream starting January 5th when I move to Taipei, Taiwan. The US has a really nice tax break up to 80k for foreign earned income. This basically means I can earn up to $80k tax free if I stay in a foreign country for 330 days of a year. Doesn't matter where the money comes from or where it goes (even if it comes from America). I'm planning to try my luck at Chinese and see if maybe I can teach a little English.

    I'm really excited and am working hard to make sure everything happens smoothly. The reason I'm mentioning it is for advice. I'm not sure what I should do with my income. I don't want my checks mailed to Taiwan, so I'm going to see if I can have my bank handle them or possibly an accountant. I'm sure there are a lot of things I need to consider and while it's not entirely affiliate marketing based, I trust what ABW members have to say. So let's hear your experiences and advice!

    Thank you to everybody who's helped me achive this goal, it's been a great year!!

    - Scott
    Hatred stirs up strife, But love covers all transgressions.

  2. #2
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    I say good luck! It should be an awesome adventure and I am somewhat jealous...now you are making want to take a trip (I can;t go away that long )

  3. #3
    Affiliate Miester my2cents's Avatar
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    Best of luck...

    I'll be doing the same..

    I'm moving to the Republic of Texas in Jan 2005


    Joe
    ++++++++++++++++++++++++++++++++++++++++++
    that's my2cents, 'cuz I'm a legend in my own mind....

  4. #4
    ABW Ambassador Vrindavan's Avatar
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    You need a knowledgable and dependable person to
    handle and deposit your checks !

  5. #5
    ABW Ambassador flamingoworld's Avatar
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    I have been thinking of moving also, to one of those other internets George Bush speaks of...

  6. #6
    ABW Ambassador Snib's Avatar
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    My internet is better than your internet
    Hatred stirs up strife, But love covers all transgressions.

  7. #7
    Defender of Truth, Justice and the Affiliate Way
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    Snib congrats on reaching a goal you've wanted!

    You would need to set up with a CPA or lawyer to handle the money stuff for you. Either one could do what you are wanting. They can probably also give you advice on other things you would want to consider.

  8. #8
    ABW Ambassador flamingoworld's Avatar
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    Yeah, I am getting pretty sick of this internet I am on right now, looking for a better one.
    But one question, did Al Gore invent them all or was that just one of them?

  9. #9
    ABW Ambassador Snib's Avatar
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    I think Gore invented the first since apparently Bush just invented the rest of em.
    Hatred stirs up strife, But love covers all transgressions.

  10. #10
    ABW Ambassador Paul_Ward's Avatar
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    Congratulations Snib! I've something similar tentatively planned but a few years down the road yet. Good to hear of someone who's putting it into action.

    Not sure about the money stuff - but you could send it to me and I promise I'd do something creative with it.

    Don't burn too many boats in case it doesn't work out the way you'd like.

    If you don't have an EFL (English as a Foreign Language) qualification, it would help enormously. In most of the world it will enable you to find a job more easily and get paid more than if you don't have it.

  11. #11
    ABW Ambassador flamingoworld's Avatar
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    Well since I make my living on the internets, and it doesn't seem that Kerry invented any of them, I am either going to have to vote for Bush or write in Gore's name.
    Hope they have some good internets on your journey!

  12. #12
    Eternal Optimist Look4's Avatar
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    Snib,

    I'm an American overseas too, so here is how I make it work:

    Set up a Delaware LLC company. I used The Company Corporation (They even have an affiliate program!). As a Delaware corporation, you do not pay any Deleware state taxes on the company income. You are still liable for state taxes in the state the you call home though. They will handle the annual re-filling and everything for a very reasonable fee (about $75 a year is what I think it costs me). You can also reant a mailbox from them and he company can do mail forwarding overseas, so you have a Delaware mailbox - many Merchants will only let you sign up if you have a US address.

    You will have to file US taxes, and you must have a "home state"- you must still pay state taxes (even on the income from the Delaware corporation, because of the way LLC's are structured). Your home state is usually the state you last lived in, have a bank in, and-or are registered to vote in. Tax-exemptions for foreign taxes may be calculated differently than federal calculations.

    For me, I still have familiy in the US, so I have all the checks go to my mothers house. I have a bank account (business account and separate personal account) that she deposits the checks into. The business account comes with a rubber stamp that she puts on the back of the business checks before depositing them. Yes, the business account has a charge, but it's really small since I don't write many checks against it. My mother is also registered to sign checks on the account, so every so often I ask her to write a check from the business account to the personal account.

    I also just got a Vonage internet phone. (and they have an affiliate program too!) I bought the adapter at Circuit City a couple months ago when I went home ($25 after rebate), and for $20 a month I now have a US phone number - actually in the same city as my mother. I use the Vonage phone number for all my affiliate registrations, because they often require a US phone number. AND - it comes with 500 minutes free (unlimited at $25 a month) so mom and everyone in the US can call me for free - and I can call them for free too. And I take it as a business expense because the primary purpose is for my affiliate business.

    So there are some tricks and tips. The tax info was confirmed by MY accountant, but may only be relevant in MY situation. You should not take it all as fact - pay a bit to a tax acountant for advise on your situation before you set anything up.
    Tom C.
    [URL=http://www.cafepress.com/simplesignshop]Simple Sign Shop[/URL]

    Every day leave someone or something better than you found it.

  13. #13
    ABW Ambassador Vrindavan's Avatar
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    it is a pain to change address or
    personal details if you have many merchant relationships.

    if merchants use moneybookers paypal netellers or direct deposit, the procedure will be much simplier

  14. #14
    ABW Ambassador Snib's Avatar
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    Look4, Thanks for all the great info!! I really appreciate it. I do have a business license in my home city, but haven't registered an LLC quite yet. I know that Deleware is the place to do it, so I'll look into that. The US phone number is great! I didn't know you could do this, Thank you!!

    - Scott
    Hatred stirs up strife, But love covers all transgressions.

  15. #15
    Eternal Optimist Look4's Avatar
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    YOu can register an LLC in any state. the benefits of registering in Delaware are twofold:

    1) You don't pay state taxes on the income of the company - you pay it as a personal tax. In some states you end up paying taxes on what the company earns AND you pay personal taxes on it too.

    2) Delaware has some great corporate protection laws that protect you against lawsuits, etc. better than in almost any other state.

    If you are already registered as a sole-proprietarship in your current home state and it meets your current tax and legal expectations, there is no reason to do it again (even as an LLC) in Delaware just because you are moving overseas. I only registered in Delaware because it was actually easier and cheaper than registering in my home state.

    BTW - I just got my first telemarketer call on my Vonage phone last night. Wanted to sell me Yahoo Yellow Page spots. Must have gotten the phone number from my domain registrations or something. The IP phone reception was great, and there was no lag as I told her (over and over) that she was barking up the wrong tree trying to sell me PPC space at Yahoo. Kept trying tell me about the benefits of geographic placement and such. I asked her about IP positioning for Bratislavia and that finally shut her up. (I'm not really in Bratislavia, but it's about 400 miles from where I do live, and I visited there last summer.)
    Tom C.
    [URL=http://www.cafepress.com/simplesignshop]Simple Sign Shop[/URL]

    Every day leave someone or something better than you found it.

  16. #16
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    I do things on a rather informal basis, my mother handles the cheques that go home to Australia, but the main one (adsense) comes here to Indonesia - Google doesn't mind where you live. Either way I don't pay any income tax at all.

    That's the 'problem' in a way, I've been thinking of going back home soon after seven years away, but then I sit down and work out how much of what I presently keep is going to have to be written out in a cheque to the taxman once a year.

    I did it a similar way originally, came here to teach English, but have since given that away to concentrate full time on this game.

    Good luck with the teaching! I kind of miss some of the kids classes I used to have.

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