Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
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Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#2I was quoted in this article. I do lots and lots of this work -- helping people log out of the USA cleanly and permanently. AMA.
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#3I was quoted in this article. I do lots and lots of this work -- helping people log out of the USA cleanly and permanently. AMA.
After you give up your citizenship you are still required to file with the IRS for the following ten years, correct? (Assuming you ever want to enter the US again.) What are your tax obligations during that time, though?
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#4I was quoted in this article. I do lots and lots of this work -- helping people log out of the USA cleanly and permanently. AMA.
Im very interested in this. Which countries are best for expats from a quality of life and ease of obtaining citizenship standpoint?
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#5I was quoted in this article. I do lots and lots of this work -- helping people log out of the USA cleanly and permanently. AMA.
Im very interested in this. Which countries are best for expats from a quality of life and ease of obtaining citizenship standpoint?
I believe that's Singapore. Albeit, the rules are being changed due to rapid influx of rich foreigners into Singapore causing social issues. https://sg.news.yahoo.com/ferrari-crash-fuels-singapore-anti...
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#6I was quoted in this article. I do lots and lots of this work -- helping people log out of the USA cleanly and permanently. AMA.
I've been strongly considering expatriating, either to Canada or even more exotic locations such as Dubai/UAE. I have no real intentions of breaking from the US as a citizen, but perhaps you could clarify for me.
1. I've heard that under a certain tax bracket this does not happen. Is that true? 2. I hear Canada will actually let you write off taxes you've paid to the US.
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#7I was quoted in this article. I do lots and lots of this work -- helping people log out of the USA cleanly and permanently. AMA.
After you give up your citizenship you are still required to file with the IRS for the following ten years, correct? (Assuming you ever want to enter the US again.) What are your tax obligations during that time, though?
After you give up citizenship you file a tax return for that year.
After that you only file income tax returns if you have income from US sources or you become a US resident.
The 10 year rule was repealed in 2008.
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#8>"U.S. citizenship is the most coveted citizenship in the world. To give it up, it has to be pretty serious,"
It's pretty serious to give up your birth citizenship no matter where you're from. But, as someone with American citizenship, this doesn't ring particularly true for me. There are a number of passports I would trade, today, right now, for the one I currently hold. Anyone claiming American citizenship is the most coveted in the world is saying a lot more about themselves than they are the US.
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#9>"U.S. citizenship is the most coveted citizenship in the world. To give it up, it has to be pretty serious," It's pretty serious to give up your birth citizenship no matter where you're from. But, as someone with American citizenship, this doesn't ring particularly true for me. There are a number of passports I would trade, today, right now, for the one I currently hold. Anyone claiming American citizenship is the m…
Quite a few people I know would prefer to travel on an American passport because it offers less hassle than most other passports. We have fewer VISA requirements, etc.
We have somewhat shot ourselves in the foot here or there since we tightened travel restrictions on some countries. But it's still an incredibly good passport to have for traveling.
Re: Expatriate Americans Break Up With Uncle Sam to Escape Tax Rules
#10I was quoted in this article. I do lots and lots of this work -- helping people log out of the USA cleanly and permanently. AMA.
Im very interested in this. Which countries are best for expats from a quality of life and ease of obtaining citizenship standpoint?
You have to solve two problems -- your place of citizenship and your place of residence. Dominica and St. Kitts are the two places most people look to buy citizenship. There are other more expensive places too.
Residence - this is easier to arrange. If the country will give you a tourist visa you're in, at least temporarily.