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To: smokingfrog

You would think there are 1001 ways to avoid paying taxes in two places.

And anyway I thought that the taxes you paid in one place were credits against what you owe elsewhere? So if you owe $10 in the USA and $15 in France you just pay $10 to USA and $5 to France. I guess I am wrong about that.


20 posted on 11/13/2011 11:47:03 PM PST by monkeyshine
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To: monkeyshine
And anyway I thought that the taxes you paid in one place were credits against what you owe elsewhere?

LOL. Now that's funny right there.

I don't think you're quite clear on the concept behind taxes.

22 posted on 11/13/2011 11:50:54 PM PST by Talisker (History will show the Illuminati won the ultimate Darwin Award.)
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To: monkeyshine

It could be that what you pay in taxes in one country, you’d deduct it from your income in another country.

So if Johnny Depp makes $5 million dollars one year, he’d pay the 23 percent federal tax rate in the States (whatever your rate is), or 1.15 million dollars, then he’d get taxed in France on the remaining $3.85 million.


24 posted on 11/14/2011 12:02:40 AM PST by Jonty30
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To: monkeyshine

I worked for the US Air Force as a contractor in Germany. I paid German taxes, and American taxes. Of course, with the American taxes...the first $82k is tax-free. After you pay round 55% of your income for German gas taxes, income taxes, sales tax, roof tax, and car tax....then you just start laughing when you have to toss even $500 toward IRS.


27 posted on 11/14/2011 1:50:54 AM PST by pepsionice
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