7 ms·
I've kept my financial situation very simple, I've likely sacrificed some (potential investment) income from doing so. I used an accountant the first few times
by kingosticks 6y ago
I've kept my financial situation very simple, I've likely sacrificed some (potential investment) income from doing so. I used an accountant the first few times who taught me what I needed to know and then I waste part of my life each year remembering how it works and researching the changes. Perhaps I also don't earn as much as the people you know, no idea. Due to exclusion and the credit I thankfully (and IMO, fairly) pay very little US tax each year, my major costs have been those initial accoutant fees. That wasn't worth a youtube channel (the income from which would only complicate my future returns, no thanks).
But I would like to hold some investments and that's an area I have no US tax knowledge of. So that'd be another accountant hit. Maybe renouncing is the better investment, once it becomes available again.