5 ms·
What? This is most certainly not the best option. As a U.S. citizen you are required to pay taxes on income earned worldwide and from my understanding you can
by brd 14y ago
What? This is most certainly not the best option.
As a U.S. citizen you are required to pay taxes on income earned worldwide and from my understanding you can only deduct up to ~95k in 2012.
From what I've read, being a US citizen and working abroad is expensive and one of the main motivations for people to renounce their US citizenship.
- mahmud 14y agoI can't afford not to be a U.S. citizen. I'm a non-millionaire atheist black man with a Muslim name and an American accent. My kind don't last long in the wilderness, I will be traded by intel agencies like a baseball card.
- deleted 14y ago[deleted]
- jacaranda 14y agoNot necessarily true. if the US and the country have a tax treaty, you can offset the taxes you paid the host country. This credit is limited to the amount of US tax liability reported on Form 1040. Also the US has generous foreign income exclusion exemption ($92900) if you live outside the country for a whole calendar year or as a bonafide resident and earn that income from US based sources