Ask HN: Digital Nomads: How do you manage taxes?

Re:Ask HN: Digital Nomads: How do you manage taxes? by thro230909 on Monday February 06, 2017 @10:07AM (#13580034)

I am self employed. My country allows me to declare flat expenses on up to 60% of my income. No accounting or proof needed. Real taxation is around 20% on $100K income (including social and health insurance).

So every year I spend about 2 hours with:

- sum all money that arrived to my account in last year

- fill form on IRS website

- update standing orders for health/social contributions for the next year

- one month latter, ring IRS and other offices, just to check all went through

If you move every two months, I would not worry about it too much. Important is:

- you pay taxes somewhere (preferably in your home country)

- you do not work for locals

[ Parent | on HN ]

Re:Ask HN: Digital Nomads: How do you manage taxes? by blurrywh on Monday February 06, 2017 @10:26AM (#13580241)

Which country is this?

[ Parent | on HN ]

Re:Ask HN: Digital Nomads: How do you manage taxes? by netmare on Monday February 06, 2017 @11:03AM (#13580670)

Probably a Scandinavian one. I've heard that forming an LLC there requires filling a single form. Maybe their taxation & insurance is that simple as well.

After researching similar matters in my own country (Greece), where you have to juggle dozens of forms in as many offices and constantly file taxes every month (or 3), I've given up on ever being self-employed.

[ Parent | on HN ]