Domestic VS International Tax Planning

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Domestic VS International Tax Planning - What is the difference and what is better for you?
Domestic tax planning lets you lower your taxes within certain limits. It's like operating within a box. There are certain rules that have to follow, there might be some loopholes here and there, but generally, there is not much creativity and flexibility within the domestic tax planning.
International tax planning gives you way more possibilities but it's also quite a bit more challenging. If you're mixing two (or more) different jurisdictions it's extremely important to be very cautious and to make sure these rules match well. One legal form might exist in one country, but be completely unknown in another country. That's why it's important to understand how exactly these things match, and how your structure can be treated by another jurisdiction.
For example, many people will form a famous US LLC structure, but Canada doesn't have LLCs at all. Canada would treat this entity as a corporation, and this will affect the distributions and taxes. Australia will treat this same LLC as a partnership. This is why it's really important to understand these things before you set up an international structure.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
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[@ahmedalsiraj5014]

much needed information, thanks for making these types of videos.

[@OffshoreCitizen]

Always our pleasure!
Anything you'd like to see next?

[@UK-Property-Tax-Accountants]

Oh so true about a domestic v international perspective

[@OffshoreCitizen]

Anything you'd like to see next?

[@maryj5021]

Love your content, Michael! Would you share your thoughts on what you would do if you were near retirement age, with almost all of your assets in stocks inside a Roth IRA?Where would you expatriate and why?

[@stevemyers2092]

interesting. I am setting up a CDN corp now, for a remote accounting service. We will do business in the USA but I will have a W8 BEN-e tax document with every CPA in the USA we will be working with so we will not have to pay US Tax, only CDN. My workers will NEED TO GIVE ME THE EQUIVALENT OF A W8 BEN document stating they are responsible to pay their taxes in their home country, as Canada has a tax treaty with their country as well as the USA. Should work out fine.

[@jackflowers2613]

I have a question. If I more than max out the foreign exclusion and housing deduction (as a employee of foreign Co) any common deductions that others take to further reduce taxable income? Set up business in US and purchase equipment that can be written off in first year?

[@peternolan6648]

How do we find specialists between Sweden and us, Germany and us, and France and us. I just invest, but make high six figures each year?

[@littleblackdrezz]

How about Canada PR owns a corporation in Hong Kong (but operating in Canada)?

[@OffshoreCitizen]

For specific questions please send a message through www.offshorecitizen.net

[@mitatube7338]

Hi dear there i want to travel Eruop but can't get the way could you help me on this

[@OffshoreCitizen]

Sure!
Feel free to send a message to any of our websites (check the description of the video)