Hi,
I'm hoping to find some advice on my partners business (It is a UK Ltd company and he is a UK Citizen). I am a US Citizen moving to live with him at the end of the year. He runs his own small business and was wondering the tax / liability implications if I was employed as a director and paid via a wage / dividends.
I understand this is a very common thing to do with two UK citizen spouses. But I was wondering what the implications are for me being a US Citizen.
Questions:
1. Would I be liable to pay tax to the UK & USA or just one?
2. Are there any employment rules or hurdles for being a director / shareholder as a US Citizen?
3. If I am only liable for USA tax, what are the optimum thresholds for self-employed in the USA. Is it best to pay up to the lowest on wages and then dividends?
I am hoping someone has ran into the same questions I am asking here, alternatively does anyone know the best place to get advice on this?
Thanks!