I have a several small online side income streams (royalties) coming from YouTube, Amazon, Adsense,…etc (approx $4-5k per month USD). I am a US citizen but plan to live abroad in SEA
- Currently when I do my taxes each year, these fall under a “sole proprietorship” I’m assuming when I move abroad I just file my taxes normally?
- On a related note, I haven’t created any LLC yet for these side projects. Any general suggestions as to whether it’s better to create some LLC for these? And if so, is it better to incorporate them in the US or abroad…etc? My basic understanding is that having an LLC is not really for tax benefits but more for liability protection, but probably not worth the hassle until I hit something like $10k per month USD in revenue?
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