What Does Source Income Mean?   Today we’re going to learn about “income source”.   Have you heard about territorial tax systems?   What it means, in theory, is that they only tax you on your locally sourced income.   By contrast, some countries will tax you on your worldwide income, meaning you pay tax on everything you make everywhere. (For the difference see taxation basis)   Most places will tax…

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A friend just reached out to me who is thinking about quitting his job and becoming a digital nomad or at least shifting his work to being location independent. He figured “I’ll set up a company in a low tax country then eventually change my residency”. This is the sort of thing we hear all…

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