3 ms·
Eh, if you're a US citizen in this situation I'd simply move to Puerto Rico and pay 4% all-in without any worries at all since it's 100% legal. Best of both wo
by phil21 9y ago
Eh, if you're a US citizen in this situation I'd simply move to Puerto Rico and pay 4% all-in without any worries at all since it's 100% legal. Best of both worlds if that 20% bugs you so much.
I still find it a little disconcerting I could renounce my citizenship and still owe taxes on things I sell years later. I get why (and in this case I feel it's largely moral), but that's quickly getting into big brother new world order level stuff. I feel it's enough "punishment" to lose the benefits of being a US citizen and holding a US passport. If the world ever goes to shit, those folks will have no place to turn for even basic human needs and protection. They will quickly find out what most of the world feels about carpetbaggers.
- jacques_chester 9y ago> I still find it a little disconcerting I could renounce my citizenship and still owe taxes on things I sell years later. You owed tax at the time, is the point here. > I get why (and in this case I feel it's largely moral), but that's quickly getting into big brother new world order level stuff. FATCA in particular has probably done more harm than good. But if you want to live in the US, if you want to spend significant time in NYC or SF or Dyersville, Iowa, then federal, state and city taxes are the price of admission. If you don't, then sure: consult a lawyer about your options. He or she will probably counsel to not commit tax evasion.