This article was originally posted on our site in June 2017 and I want to post it again today so you understand the value of what we have been building in virtual offices for professionals.
As the founder of virtual offices technology, I want to introduce a member who recently adopted TaxConnections Virtual Offices. Olivier Wagner is an example of a new phenomenon – a professional living an entirely digital, nomadic lifestyle. As you follow this series, you will discover a new world coming into our vision; a world of working through Virtual Offices. Olivier Wagner will take us with him traveling the world utilizing our technology to grow his tax services business.
Our innovative technology brings Virtual Offices to professionals and small businesses worldwide, while allowing them the freedom to travel. Enjoy taking this trip with Olivier Wagner as he travels around the world working from a Virtual Office and attracting new business through TaxConnections.
(Access Part I of The Digi-Nomad Series)
In today’s age of “digital nomads,” the idea of working remotely overseas continues to grow in popularity. New programs, such as Remote Year, have further facilitated overseas commuting by organizing year-long trips for employees and freelancers to live in multiple cities abroad. Participants, for example, travel in groups to live in multiple cities throughout Europe, Asia and South America, for one month each over a year period.
Working abroad presents a number of unique U.S. income tax issues and opportunities for the digital nomad. One main issue is qualification for the Foreign Earned Income Exclusion (“FEIE”), which allows U.S. citizens living abroad to exclude their foreign earned income from U.S. federal taxation. Another important issue is a digital nomad’s potential liability for state and local taxation even during their time living and working abroad. Read More
Americans move abroad for lots of different reasons, perhaps on a job posting, for a better quality of life, or to explore other cultures. Paying less tax is another factor that often influences their choice of destination.
Americans still have to file U.S. taxes on their worldwide income wherever in the world they live, and they may also find themselves paying tax in the country that they move to. Read More
Millions of Americans living abroad are working as freelancers. Some work mainly for one or more American firms, others freelance for foreign firms or provide services directly to small firms or individuals. Many are settled permanently in one foreign country, others are intending to return to the U.S. after a few years, or they may be Digital Nomads, roaming between Wi-Fi hotspots in different countries providing freelance services online. Read More
Digital Nomads are entrepreneurs who run location independent business. Many digital nomads travel outside the United States with their laptops. Although they have a presence in other countries, they rarely stay long enough in any country to become tax residents of those other countries. They typically conduct their businesses through non-U.S. (foreign) corporations and draw a salary from those foreign corporations. By drawing a salary from those foreign corporations, they ensure that their income is foreign and they they avoid paying U.S. self-employment taxes.
In today’s age of “digital nomads,” working remotely overseas has become increasingly popular. More companies are adding remote working options in order to benefit from a broader talent pool and give employees more lifestyle choices.