Creating business entities may serve to reduce tax liability under certain circumstances.
As of January 2018, if you have become delinquent in your US tax filings, and live overseas, the IRS can prevent you from renewing your US passport.
The Tax Cuts and Jobs Act of 2017 (Trump Tax Reform), IRC 199A allows a 20% deduction for Qualified Business Income. Under this provision, creating an entity such as a Limited Liability Corporation (partnership or S corporation) may be advantageous in minimizing your tax liability. In some cases, creating a C corporation to take advantage of the 21% corporate tax rate would serve to reduce liability.
Such business entities create additional reporting and filing requirements which may offset any benefit.
I can help you consider and select the proper entity and prepare the necessary tax returns which are often complicated due to depreciation of assets, inventory, elections and other issues.