Accounting for Digital Nomads
Many people find this site because they are wondering how the heck am I going to handle my taxes after not being in the US for an extended period of time? Do I even owe taxes?
We will cover topics such as:
- What is the FEIE? How to save tens of thousands of dollars by traveling the world
- How to reduce your state taxes to $0
- If you own a business, which is the best entity for it?
- How to DOUBLE your FEIE
- How much money can you really save by using the FEIE and traveling to lower cost countries
- And much, much more!
As a CPA and the founder of CPA On Fire, I work exclusively with online based entrepreneurs. Or as the young kids like to call them “location independent” entrepreneurs. Because of this, I have seen countless people take advantage of the incredible opportunity the foreign earned income exclusion (FEIE) presents. The lack of solid information on accounting for digital nomads has led to the birth of this site.
When talking with people about the FEIE, there’s one statement everyone seems to use; “it just seems too good to be true”. While I can’t argue that the amazing benefits seem too good to be true, especially from the typically stingy IRS, I can confirm it is in fact true. You really can potentially write off up to $104,100 of income per person by doing this right.
But that last part is key, you have to do it right. And that’s what we want to help with. So on this page you will find articles covering all aspects of the foreign earned income exclusion. From laying out what it is, to getting rid of the pesky to state taxes, to choosing the right entity and much, much more.
I highly advise speaking with a professional directly to discuss your unique situation, but by following our material here, you can go in knowing all the right questions to ask and an inside track on taking advantage of this incredible opportunity.
If you want us to cover any additional topics, just comment on an article or post in our Facebook group!