How come I have to pay taxes on my small business but these smucks that come over here that start a business do not have to pay taxes for 7 YEARS, yeas that right 7 years they do not have to pay taxes....and then after those 7 years are up they switch the business over to there childrens or cousins name and they dont have to pay for 7 more years...what the phuck is up with that?????
2007-10-17 10:43:03 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
http://www.snopes.com/business/taxes/immigrants.asp
Commonly held misconception.
2007-10-17 11:01:43 · answer #1 · answered by Wayne Z 7 · 1⤊ 1⤋
Uh, you're wrong - that's an urban legend that a some people tell, probably to get native born Americans mad at immigrants - but it isn't true - foreigners pay taxes on their businesses just like anyone else - if they have any profits, they pay tax from the first year.
2007-10-17 15:18:21 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
What was the title of that Fairytale book you were reading? I have been doing taxes for several years and I have never heard of this. Also, I have taken many college business classes and never heard of this including H & R Block Tax classes.
2007-10-17 13:20:12 · answer #3 · answered by Gary 5 · 1⤊ 0⤋
Foreigners are very wealthy. fees of pastime are decrease exterior the united states of america. additionally, in case you communicate $one million.00 USD is well worth in simple terms $0.70 EUR and easily $0.forty 8 GBP then it relatively is totally decrease priced for them to purchase some thing in the united states of america. on the different hand in case you opt for some thing from the united kingdom like a Rolls Royce or some thing from Italy like a Gucci handbag then you definately ought to spend quite a number of money.
2016-10-04 01:11:47 · answer #4 · answered by hamb 4 · 0⤊ 0⤋
Where did you hear that? Sorry, but whoever told you that lied to you. There is no truth to that whatsoever! Immigrants are subject to the exact same tax laws as citizens are and get no special breaks at all.
2007-10-17 11:11:27 · answer #5 · answered by Bostonian In MO 7 · 3⤊ 0⤋
i don't think it is easy for a foreigner to even stay in the US.
2007-10-17 11:06:11 · answer #6 · answered by Pie 3 · 0⤊ 2⤋
call it a loophole in our federal accounting laws & regulations. maybe it's an incentive for foreigners to invest in our country.
2007-10-17 10:49:32 · answer #7 · answered by Anonymous · 0⤊ 5⤋