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What do you mean by, "you won't pay anything"? The issue is that you pay taxes to _two_ countries on the same income because you can't shield the income from t
by brobinson 4y ago
What do you mean by, "you won't pay anything"? The issue is that you pay taxes to _two_ countries on the same income because you can't shield the income from the US above the foreign earned income exclusion amount. Sorry if I'm misunderstanding you.
- sgjohnson 4y agoYou pay only the difference. There’s also an exemption on taxes already paid to a different country.
- brobinson 4y agoYes, I mentioned the FEIE in the first post you replied to. Wealthy/high income Americans renounce their citizenships to avoid being double taxed if they don't live in the US because the FEIE has a cap and they are double taxed on the remainder.