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Today is August 21, 2008 | www.supremnetsolutions.com
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OUR BUSINESS
Supremnet is a pioneer and leader in call and contact solutions involving the Filipino American Market. Giving solutions to your needs of promoting, marketing and up to maximizing your business presence by a team of highly competent, well-trained and result oriented Call Ambassadors.
OUR MARKET
Filipino American Market. There are approximately 3,000,000 Filipino Americans comprising an estimated $27 Billion spending value as they earn and live in the United States.

This huge figure grows 10% annually and when considered as a nation, it is larger than some 200 other nations.

Supremnet scope of assistance includes proficient marketing and answering queries which will benefit not only those who are already established business owners but most especially those who wanted to institute their roots on the Filipino American market ground.
OUR PRIDE
Believes that the key to more sales and higher profit is to promote and sell your products and projects via the wonders and magic of the internet and Call Centers. And at costs and plans you can easily afford!

Supremnet is living up to its name as it provides you with a range of supreme solutions devised to cater to your business concerns.
FILIPINO AMERICAN NEWS
If Filipino Americans retire and run a business in the Philippines... - 2008-08-18

If Filipino Americans retire and run a business in the Philippines...If Filipino Americans retire and run a business in the Philippines, they can enjoy the many benefits of tax credits and tax incentives. Like many a traveler, you’ve come to Cebu City, let’s say from New York City, looking for an escape from the cold and the office. A little romance in a tropical paradise would be nice, too! What you did not expect, however, in the course of your romantic quest, is if you fall in love with the city and its charms: the beaches, the ambiance, the view. Before you know it, you and your spouse are discussing the possibility of purchasing a Cebu City beach property and eventually run a business, too.

A myriad of questions come up in the conversation. One of the questions come up in the conversation. One of the questions you should ask is: How will property ownership in the Philippines affect my US taxes? What are the taxes I will have to face in the Philippines?

Before anything else, a Filipino American may secure a Philippine resident visa if he intends to retire, run a business and stay permanently in the Philippines. After securing a Philippine visa that provides him numerous benefits as a new Philippine taxpayer, he can buy a Philippine home as his permanent residence.

When he does that, he can now avail of the tax deductions against his US adjusted gross income on account of his Philippine residence. As a retiree, he can deduct the interest expenses paid to a US registered lender, his real estate taxed, insurance premiums and incidental repairs when filing his annual Form 1040 individual US income tax. Should he decide to rent the Philippine home later, he can shift his tax break to the deductions against rental income that will ultimately reduce his taxes paid to Uncle Sam.

Becoming a resident of another country, a Filipino American is still obliged to file a US and Philippine income tax. Under US taxation rules, he enjoys a tax credit (US $80,000 in 2002) that can be deducted from his income from all (universal) sources when computing for his US tax. This tax credit option is in lieu of his itemizing his excluded income.

A big tax break in the form of a capital gains exemption is further availed of by a Filipino American retiree when he further sells his home. As of this writing, the exemption amounts to $500,000 for couples filing jointly; $250,000 for one filing separately.

One downside about foreign tax credit is that it can get complicated. In almost all cases, you’ll find that it makes more sense to exclude income than it does to take the credit.

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