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All right, Joe Magnati, my good buddy, I don't think you really need an introduction, ad senseflippers.com, obviously, and the outsourcing for startups podcast. I got a question today that I thought we could tee off on, and it would be, it's a fascinating topic for us, sort of something that we've been passionate about, and it's something that listener David's really interested in. So he says, I heard on your podcast that there's a law that allows U.S. citizens to basically be tax-free if they're outside

of the United States. He also asks, he's sort of planning on his way out and all his work is remote.

So what are the implications for entrepreneurs that are going to have these like virtualized

businesses like you do? You can be anywhere. You you know you're very far away from your 30 odd employees right now

so what are the implications of all this people his friends are telling them go to Belize

go to the Seychelles go to some of these crazy places and he has some sort of further

questions about personal bank accounts so what do you say we tee off on this topic for a couple of minutes and sort of walk through some of the things that we've done? Yeah, let's do it up. All right. So the first thing I want to say, we don't sound that smart, so that's good. We are not that smart. We are not tax advisors. We're just here to sort of, we're entrepreneurs. We're trying to inspire you guys to do some cool international stuff with your business. So, you know, whatever you hear from us, confirm it with someone that actually knows what they're doing. Yeah, I have paid lots of money to accountants over the years, but I am not an accountant nowhere near it. So please just take everything with a grain of salt and check it out. Hey, it's a great first point because, so we both said before the podcast that we wish we would have gotten accountants earlier in our business. They're actually cheaper back home. What do you pay for your US accountant? Do you know off the top of your head? Not a lot.

It's not much. I think for us it's under 400 or 500 bucks a month or something. We've got a relatively big business. You know, that's a drop in the bucket. When we started, we were like, oh, we're so broke. We can't afford it. And then the first meeting we had with our accountant, it was like, I can't believe we waited so long to do this.

Yeah, I would even say more than an accountant is a bookkeeper, right?

Absolutely.

That having that person that can enter in all the transactions into QuickBooks that you can just send all your receipts to that you can talk about transactions with. And she can keep everything organized. So this way when the accountant comes in, everything's done for him at the end of the year.

Yes. And it's not a mess to go through.

That makes it a lot easier.

Okay.

So there's basically, there's three categories of people you're dealing with.

Bookkeepers, which are the people that keep you straight.

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