FYI: leaving US to avoid taxes

isabella22

I was just catching up on the days activities and saw that someone posted that they had family that might leave the US to avoid Obama taking all their money (or something, I am paraphrasing).

FYI: unless you renounce your US citizenship you have to file taxes no matter where you live.  You can only make up to a certain amount of money in another country and be exempt from US taxes, above that amount (which is less than $250k), you have to pay taxes on it.

Probably irrelavant to everyone, just thought I would post

DaisyAdair

Where are they moving that doesn't have taxes?  So, assume they avoid US taxes...wherever they live will have taxes.  I could run and hide in Canada, but, they have taxes, too!

There is no escape from the Tax Man!

mags2041

Um, yeah.  My dad and stepmom are living in Australia right now and pay taxes.  And if they stay there longer than a certain amount of time then they have to pay taxes there, too.  So they might actually pay taxes twice if they stay over there.

tammy79

Idiots.

isabella22

DaisyAdair:

Where are they moving that doesn't have taxes?  So, assume they avoid US taxes...wherever they live will have taxes.  I could run and hide in Canada, but, they have taxes, too!

There is no escape from the Tax Man!

Yes, if you live in Canada and make over a certain amount of money, you pay Canadian *AND* US taxes.

DandR

hahahahahha...I saw that post too and thought "making over 250K, but going to have to leave because they can't afford to live here???? THAT makes sense."

 

JOEBunny

Yep!  More power to them.  Europe would be a great destination... Wait, they pay more taxes than we do.  How about China, oh wait, they are still primarily communist, so again hand it over at the door.  I hear that Africa is a fun place to live.  Enjoy your armed guard compound, unstable government and poverty related crime and deprivation...  I hear mexico is fun, except for the lack of health care.

 

I think it is a great idea for people who feel that way to go.

amiamish

LOL Joebunny!

marrymemylove

Well you could go somewhere with a tax treaty with the US so that if you're taxed there you don't also get taxed in the US. Hong Kong is pretty good but I don't like the lifestyle.

GL to them :0)?

stcroixbride

DandR:

hahahahahha...I saw that post too and thought "making over 250K, but going to have to leave because they can't afford to live here???? THAT makes sense."

 

TOTALLY agree