Do I need to pay taxes?

Discussion in 'Accounting and Taxes' started by Eric-G, Apr 29, 2016.

  1. Eric-G

    Eric-G
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    Hey guys, so this is a serious and confusing question which I can't answer. First off I'm American, but I travel, I live around the world, and rarely in America, so I don't have to pay us taxes as my annual income is less then 200K. Next my business isn't licensed anyway, and only serves Chinese customers, at the moment. My business is automated software to assist Chinese people in getting everything they need in order to apply for universities in the US, UK and any other country. Thanks to a loophole in Chinese law I don't have to pay taxes in China, but should i be paying taxes to anyone? Should I legally license my business? Are there any potential problems with not being licensed? Should I sail over to a tax haven and register there? Should I register in China(not likely a good idea).
     
  2. PhoenixPhotography

    PhoenixPhotography
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    Yes. As a US Citizen you should be filing your taxes to the Department of Treasury. The IRS website has a section on international requirements and also a section on online learning of how to do the necessary.
     

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