Andrew dives in on some of the common questions he receives about taxes. People are always wanting to reduce their taxes, but sometimes they're completely unwilling to change their current lifestyle to make that happen. How can you reduce your taxes without moving out of the country? Well, the short answer is you can't. At the end of the day, it boils down to what kind of freedoms you want and why you really want to reduce your taxes.
Key Takeaways:
Andrew's Editorial:
[2:10] Let's talk about taxes.
[4:00] Countries like Australia are ruling more in favor of the tax man.
[4:20] It's subjective as to whether or not you really did leave the country or if you're just avoiding tax.
[4:30] Even if you've left the country for more than 183 days a year, this doesn't always mean you're a taxable non-resident.
[6:45] How can I pay nearly zero tax like the big corporations do?
[7:50] Andrew does not recommend hiding your money from the government. Nothing good will come of that.
[12:10] How does Google, and other big companies, diversify?
[15:45] How do you save taxes without moving?
[17:35] Like California? Then you might like Chile.
[22:30] But I can't leave the US and I want to reduce my tax bill!
[23:10] So, why do you really want to pay less tax?
[25:10] Andrew has never been to Greece.
Interview:
[26:40] Why did Yasmine become an entrepreneur?
[28:15] How does Tibba help people?
[30:05] Where is Yasmine from?
[32:50] How does Yasmine deal with ups and downs?
[34:45] Which is more productive — working in a new and different space or settling down in one place to work?
[38:55] Since Yasmine is so remote, how does she setup her companies?
[40:25] What kind of challenges has Yasmine faced?
The Lightning Round:
[43:05] One business – Taiwanese dessert.
[44:20] One country – New York.
[44:50] One book – Never Eat Alone by Keith Ferrazzi.
[46:00] One tool – Calendly.
Listener Question:
[48:20] What type of business does Andrew miss while traveling?
[51:55] You do want to have a home base with all your comforts as you travel the world.
[53:05] Andrew personally likes smaller houses.
Mentioned in This Episode:
Email: Andrew@NomadCapitalist.com
