Posted on 11/26/2011 1:42:53 PM PST by SeekAndFind
“A US couple living overseas in exempted on approximately the first 200k of income and after several years of actually living overseas, there is no tax liability.
Furthermore, the tax liability is factored into your salary by the company you work for.”
Further, taxes paid overseas ar either a credit, or a deduction, against your US tax obligation.
Most Americans working overseas are “tax equalized,” such that after tax, they net their salaries PLUS overseas incentive pay.
My coworkers used to see overeas work as an opportunity to see the world, and earn/save more money than they would in the US.
Chile is reportedly where America was back in the 50s - with more freedom than we now have.
And some countries have a reciprocal agreement to where you just pay taxes in one country.
Nice
One if I'm working in Israel and a seperate one if I need to travel to Saudi Arabia (or any Muslim country, for that matter).
Amen Brother.
If he likes it there—stay there.
STFU and stop bad-mouthing America.
Having almost 40 years experience working abroad (in quite a few different countries along the way) for an American company, I can tell you that you are waaay off the mark with your sunny assessment.
Where do you come up with a $200k income exclusion? IN truth, a US couple is exempted on only the first approximately $91,500, plus (under certain circumstances) a modest housing allowance.
BUT, you must be aware that the US government considers many elements of employer deployment cost to be income to the employee. For example, if you get a trip home annually paid by the company, that’s income. If you have to have your kids in an english language school because they can’t speak the local language or because they aren’t legally eligible to attend local government schools, and the company picks up the tuition (usually about $10,000 to $15,000 per year per kid) that’s income. The list goes on. In the last 10 years of working abroad, I never had ANY part of the exclusion actually applied against real, disposable income. It was all used up on employer costs of deployment, attributable to me as income by the IRS, but not available to me to save or spend.
And, here is another error: You NEVER see sunset on these taxes, not after “several years”: not EVER.
It is true, as you say, that at least to some extent “the tax liability is factored into your salary by the company your work for”. But, you have to know, that since Brits and Aussies, just to name two nationalities among many, don’t require as much to be factored in because their countries don’t hound them for taxes, they are MUCH cheaper to hire and deploy. The benefits that Americans can expect from their employers have steadily declined for years.
Competition, you see.
And a few years ago, when US tax laws were changed to take the income exclusion off the bottom rather than the top, Americans became about $10,000 a year even more expensive as compared to other nationalities.
In my company, that US tax law change became known as the Australian Full Employment Act as American after American was replaced by Australian new hires.
Thats because we live under an illusion of freedom in many respects.
If your husband (the govt) begins abusing you, beating you, taking away your rights little by little, would you make a plan B? This is not un-American, it is very much in the spirit of the early colonists. I for one love this land, love the people, but HATE the government, the political system, parties and the corruption and sloth of nearly 50% of the people. If I could afford to move, I would find another state at the minimum. Another country if I thought it had more Liberty.
My ancestors came here in the 1600s.
We have had family members fight in every war; during the Civil War, members fought on both sides.
I’m not going anywhere. It is OUR government, no one else’s.
freezers=freepers
The more passports you have the better!
Same here - but they came for liberty, and that is disappearing year by year...
It is not OUR government. The contract, the Constitution has been abrogated by “OUR” government. We are ruled by an elite far away regime, that does not listen to us, or follow the limits of it. The Executive branch does not even answer to the Legislative branch. To stay and fight is noble and correct. Some would not, but it is not a shame to move on. It is better than choosing the Rat side. Make no mistake about it. There will be bloodshed, initiated by someone. The purpose, to give the Federal govt the reason it wants. Why do you think that 0 is forcing the U.S. to have to join Mexico in a lawsuit against States? To bring it to a World Court. This is a well planned operation, and when the SHTF, after the fiat money scam collapses world wide, the “backup plan” will be rolled out.
Best you leave.
“THE PROTESTERS HAD SURROUNDED THE POLICE”
The protestors were THRILLED when pepper spray was used.
It gave them one more thing to whine about.
Police brutality blah,blah,blah.
Please don’t confuse folks here with facts.
Not really. Many Chileans learn English in school and are happy to practice it with you.
“if you don’t mind living in an earthquake belt and don’t mind learning Spanish: California”
lol! I was thinking the same thing!
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