US still taxes citizens that move out of the US.
-
-
Replying to @Aella_Girl
This is a common misunderstanding. It requires that they file a tax return (which they shouldn't, IMO). But most US citizens living abroad that I've spoken to say that they pay very low or zero US taxes, unless most of their income is actually US source.
21 replies 0 retweets 14 likes -
Replying to @michael_nielsen @Aella_Girl
I'd like to see a source for your claim here, as the IRS site suggests otherwise? https://www.irs.gov/individuals/international-taxpayers/taxpayers-living-abroad …pic.twitter.com/GEc8IyPVZP
6 replies 0 retweets 15 likes -
Replying to @wminshew @Aella_Girl
Just conversation. I wonder now if the people I've spoken with had renounced their citizenship.
6 replies 0 retweets 2 likes -
This Tweet is unavailable.
-
Replying to @youarezera @Aella_Girl and
I don’t think that’s right. If you have residency outside the US you still have to file a tax return not necessarily pay tax, but if you renounce citizenship you’re done.
1 reply 0 retweets 1 like -
-
Replying to @Aella_Girl @youarezera and
Right doesn't mention having to pay for 10 years, or that you have to pay when you're non-resident. Also renouncing citizenship doesn't mean you can't visit the US :)
1 reply 0 retweets 1 like -
Replying to @minimumnz @youarezera and
It appears the 10 year thing is no longer in effect, although this was the case at one point. They replaced it with an exit tax, which means upon renunciation, all of your assets, including businesses and properties, are taxed as though you sold them.
1 reply 0 retweets 1 like -
Replying to @Aella_Girl @minimumnz and
Geez. So all your assets are treated as income upon renunciation, am I getting that right? (I'm a tax preparer BTW.)
2 replies 0 retweets 1 like
-
-
Replying to @Aella_Girl @minimumnz and
Damn well better have liquidity before you do that. If you were young & beginning to earn more it would make the most sense. My brother is a US citizen who lives in Singapore & China so we have discussed a bit.
0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.