2 ms·
Triple citizen: first 100k is tax free. You still need to lodge US taxes which is a huge pain. There are reciprocal tax agreements with most of the developed wo
by konjin 6y ago
Triple citizen: first 100k is tax free. You still need to lodge US taxes which is a huge pain. There are reciprocal tax agreements with most of the developed world though. The only time this bit me was when I was looking at a very well paying job in Dubai:
https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z https://www.irs.gov/businesses/international-businesses/unit...
>And good luck getting back in for a visit after relinquishing your citizenship.
Sadly all too true. There must be a list somewhere because everyone I know who has done this has gotten fucked very hard every which way they could get fucked by the govt.
- seanmcdirmid 6y agoThe reciprocal agreements are usually for social security and the like. You can still take the foreign tax credit even if the USA doesn’t have an agreement with said country. You get screwed in low tax/high fee countries (like Singapore) and have to start leaning on your housing deduction.