Ok...I know that there are several board members who are US citizens living in Spain with their own business, or who have done so in the past...
Maybe you can help me with this question
:
What US tax liabilities would I have if I start my own business here in Spain? I am a US citizen with a Spanish husband and Spanish (EU) residency. This year, I filed my taxes in the USA (for 2001) but intend to file in Spain for 2002 and forward. (I´ll continue to file in the states, but all financial claims and taxes to be paid will be done so in Spain).
We are planning to launch our business in the fall, but it will be in my name since my husband cannot be the "titular" while is employed by another company.
I vaguely recall reading that American citizens who have businesses overseas get hit hard with taxes...but don´t know if this applies to those who reside overseas as well. Or maybe I am just confusing a bunch of tax jargon that I read somewhere!
Can anyone shed some light on this topic for me? I would appreciate any insight you could give on this matter!!
Thanks!