Offshore Tax Question

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pmaura
Posts: 1
Joined: Tue Nov 15, 2005 3:24 pm

Offshore Tax Question

Post by pmaura »


Here is my question. I would like to form an offshore company lets just say in the Bahamas. I would have all my consulting income run through this corp so as not to pay any US corp taxes.

Now being a US citizen I do understand I will still be subject to paying income tax above a certain amount. But is what I want to do legal for one and even the company is located outisde the US if the revenue is generated from US corporations and owned by a US citizen will the IRS say hey your corportaion owes us money.
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Norbert Schlenker
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Joined: Sun Nov 21, 2004 1:22 pm
Location: The Dry Side of the Wet Coast
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Post by Norbert Schlenker »

You're asking in an inappropriate place because this forum is for discussion of Canada / US cross-border tax issues. Let me just point you to two IRS urls which should make it clear that the US government really frowns on this sort of thing by its citizens.

http://www.irs.gov/businesses/small/art ... 68,00.html
http://www.irs.gov/businesses/small/art ... 19,00.html
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