Quote: (06-24-2018 01:13 PM)Tail Gunner Wrote:
Quote: (06-24-2018 12:44 PM)DonnyGately Wrote:
No country takes you off the IRS hit list if you're a US citizen, what is this fantasyland? Be serious.
You can lie on your taxes but hell just live in South Beach if you want to do that and get all the hot Latinas, touristas, and college girls.
If you are an American living offshore who earns less than the Foreign Earned Income Exclusion for 2018 ($104,100), then living as a resident in a no income tax country means that you pay no income tax. The fact that you do not know such basic information makes you the one living in a fantasy land -- and not competent to post in this thread. If you want respect, then first show respect to others.
https://www.irs.gov/individuals/internat...-exclusion
https://www.liveandinvestoverseas.com/ta...ie-basics/
He's actually right.
"A common misconception among expats and nomads is that the first roughly $100,000 of income are completely tax free in the US under the Foreign Earned Income Exclusion (FEIE). This is however only partially true. The FEIE lets you exclude income from income tax. It does not get you out of paying self-employment tax on foreign income when working as freelancer, independent contractor or sole proprietor abroad."
You STILL have to pay 15.3% self employment tax.
https://onlinetaxman.com/self-employed-a...gn-income/