|
PureBytes Links
Trading Reference Links
|
Actually, as a US citizen your worldwide income is liable for tax, no matter
where you live. There are exclusions if you are living abroad, last figure I
remember was the first 70k could be excluded. I also think that the tax
treaty reciprocity means that if e.g. you pay 20k to Ireland, that 20k is
considered to be deductible from your US tax bill (not considered payment in
full). You could renounce US citizenship but even this is difficult if you
are considered to be leaving the US for tax purposes - and even then you
still are liable for 10 years.
Bob
ps. I am not an attorney, nor have I played one on tv. This is not to be
construed as legal advice
----- Original Message -----
From: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, April 02, 2003 2:02 PM
Subject: Re[2]: taxes
> Hello Jimmy,
>
> JS> http://www.worldwide-tax.com/index.htm#partthree
>
> thanks jimmy! i have beem thinking about Ireland, they have a tax
> treaty with the us and so if you pay their 10% flat rate tax as a us
> citizen i would not have to pay us taxes on the same income. if i
> understand all this correct.
>
> http://www.worldwide-tax.com/ireland/ireecono.htm#exemp
>
>
>
> --
> Best regards,
> Mark mailto:markbrown@xxxxxxxxxxxxx
>
>
---
|