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Barbados introduces plan to allow visitors to work remotely there for a year

money.yahoo.com

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Re: Barbados introduces plan to allow visitors to work remotely there for a year

#81

Post by dominotw »

taylortrusty wrote: post #75
dominotw wrote: post #74

Earlier quoted context omitted.

> cushy US salary Wouldn't this be tax fraud to claim an address in US as your paycheck address and not actually live there?

How is that tax fraud? You pay federal taxes anywhere in the world you live as an American citizen.

ok i work 100% remote, can I claim my sisters address in Texas in texas for my payroll and actaully live in new york?

I am genuinely curious. This will save me tens and thousands of dollars every year if this isn't fraud.

why the downvotes, i don't get it.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#82

Post by throwaway894345 »

seanalltogether wrote: post #71
throwaway894345 wrote: post #48

Earlier quoted context omitted.

I would love to work remotely from Europe. I would think it would be in the interest of European countries to make this kind of arrangement because I would be spending my cushy US salary on European goods and services and not taking a job away from a European.

I had the same idea 10 years ago and I'm still here after marrying one of the natives. But be warned, working remotely in Europe can be difficult. I'm 7 hours ahead of my coworkers in America, so my workday is roughly 1pm to 9pm, with continual slack messages coming in until midnight at times.

Yeah, I’ve considered that as well and it seems to be the biggest downside as well. In my case, my wife and I would be on the same schedule so there wouldn’t be so much impedance there, but it would make weeknight get-together a with friends more difficult. However there should still be weekends and vacation time and so on. I’m at least confident that my employer would be flexible about me shifting my working hours to something closer to noon-8PM and respecting that schedule.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#83

Post by throwaway1777 »

DoofusOfDeath wrote: post #79

AFAIK, U.S. imposes income tax on all of its citizens, even those who reside in other countries. IIRC it applies to all earnings above $110k(?). There's also the notoriously difficult hassle of complying with FATCA's [0] reporting requirements. I would imagine that sours the value proposition quite a bit, at least for U.S. citizens. [0] https://www.irs.gov/businesses/corporations/foreign-account-...

Yeah, you won’t really save on taxes. The real benefit is if you want to work from an island and go to the beach a lot. Hurricanes are the main issue on that during this season.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#84

Post by throwaway894345 »

dominotw wrote: post #74
throwaway894345 wrote: post #48

Earlier quoted context omitted.

I would love to work remotely from Europe. I would think it would be in the interest of European countries to make this kind of arrangement because I would be spending my cushy US salary on European goods and services and not taking a job away from a European.

> cushy US salary Wouldn't this be tax fraud to claim an address in US as your paycheck address and not actually live there?

Having a US salary doesn’t imply claiming that I live in the US. It just means my employer continues to pay me my salary which is negotiated based on the US job market. I wouldn’t lie to anyone (my employer, the US government, nor the host government) about where I live.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#85

Post by throwaway894345 »

dominotw wrote: post #81
taylortrusty wrote: post #75

Earlier quoted context omitted.

How is that tax fraud? You pay federal taxes anywhere in the world you live as an American citizen.

ok i work 100% remote, can I claim my sisters address in Texas in texas for my payroll and actaully live in new york? I am genuinely curious. This will save me tens and thousands of dollars every year if this isn't fraud. why the downvotes, i don't get it.

Lying about your address is tax fraud, but no one is talking about that...

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#86

Post by dominotw »

throwaway894345 wrote: post #84
dominotw wrote: post #74

Earlier quoted context omitted.

> cushy US salary Wouldn't this be tax fraud to claim an address in US as your paycheck address and not actually live there?

Having a US salary doesn’t imply claiming that I live in the US. It just means my employer continues to pay me my salary which is negotiated based on the US job market. I wouldn’t lie to anyone (my employer, the US government, nor the host government) about where I live.

> I wouldn’t lie to anyone (my employer, the US government, nor the host government) about where I live.

How though? You have to claim a local US address for your payroll though. right? What will that address be?

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#87

Post by jsjohnst »

dominotw wrote: post #81
taylortrusty wrote: post #75

Earlier quoted context omitted.

How is that tax fraud? You pay federal taxes anywhere in the world you live as an American citizen.

ok i work 100% remote, can I claim my sisters address in Texas in texas for my payroll and actaully live in new york? I am genuinely curious. This will save me tens and thousands of dollars every year if this isn't fraud. why the downvotes, i don't get it.

> ok i work 100% remote, can I claim my sisters address in Texas in texas for my payroll and actaully live in new york?

That’s an entirely different issue. Yes, New York state will likely take issue with the scenario you describe, but not at the federal level (what this thread is about). Further nobody, but you, was indicating lying about their address.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#88

Post by esrauch »

DoofusOfDeath wrote: post #79

AFAIK, U.S. imposes income tax on all of its citizens, even those who reside in other countries. IIRC it applies to all earnings above $110k(?). There's also the notoriously difficult hassle of complying with FATCA's [0] reporting requirements. I would imagine that sours the value proposition quite a bit, at least for U.S. citizens. [0] https://www.irs.gov/businesses/corporations/foreign-account-...

I'd actually have assumed they expect these people to still be paid into their US bank accounts in USD (or your EU account in Euros or whatever), and not pay any income tax to Barbados regardless; effectively a year-long vacation visa, not actually a work visa.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#89

Post by dominotw »

jsjohnst wrote: post #87
dominotw wrote: post #81

Earlier quoted context omitted.

ok i work 100% remote, can I claim my sisters address in Texas in texas for my payroll and actaully live in new york? I am genuinely curious. This will save me tens and thousands of dollars every year if this isn't fraud. why the downvotes, i don't get it.

> ok i work 100% remote, can I claim my sisters address in Texas in texas for my payroll and actaully live in new york? That’s an entirely different issue. Yes, New York state will likely take issue with the scenario you describe, but not at the federal level (what this thread is about). Further nobody, but you, was indicating lying about their address.

> That’s an entirely different issue.

how is it different?

OP is claiming an address in USA for payroll as his residence but it isn't actually his residence. How is this not fraud.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#90

Post by throwaway894345 »

dominotw wrote: post #86
throwaway894345 wrote: post #84

Earlier quoted context omitted.

Having a US salary doesn’t imply claiming that I live in the US. It just means my employer continues to pay me my salary which is negotiated based on the US job market. I wouldn’t lie to anyone (my employer, the US government, nor the host government) about where I live.

> I wouldn’t lie to anyone (my employer, the US government, nor the host government) about where I live. How though? You have to claim a local US address for your payroll though. right? What will that address be?

If I was moving for the long term (whatever the legal requirement is for an address change), then I would report my new address. There is no requirement that a US company can only employ US residents to the best of my knowledge.
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