3 ms·
US citizens are taxed on world-wide income, so the benefits of the low-tax environment aren't so much of a factor, since you owe the IRS on whatever you earn an
by mdda 13y ago
US citizens are taxed on world-wide income, so the benefits of the low-tax environment aren't so much of a factor, since you owe the IRS on whatever you earn anywhere on earth (but for a ~$80k exemption).
Most other countries tax based on where you earn (i.e. earn money while resident abroad => don't have to remit tax on those earnings to your birth-country).
AFAIK, Sivers (smartly) had a lot of his exit proceeds put in a trust, so he may be somewhat tax-agnostic.
- seanmcdirmid 13y agoAfter your $97,600 foreign-earned income exclusion (2013), you can at least deduct the taxes you pay to another foreign government. I don't even bother with the FEIE anymore, I just deduct my higher Chinese taxes. But to each his own.
- strlen 13y agoSivers also did surrender his US citizenship: https://www.federalregister.gov/articles/2012/04/30/2012-10274/quarterly-publication-of-individuals-who-have-chosen-to-expatriate https://www.federalregister.gov/articles/2012/04/30/2012-102...
- mdda 13y agoInteresting : I was mainly responding to the comment about US expats having a special cocooned existence (which may well be true, for expats from all first-world countries). But its parent post also fingered low taxes as being a reason that Singapore is attractive to individuals (which isn't really the case for US taxpayers).