To: autumnraine
What is really ridiculous about the US tax code is that if I live and work in another country, I am still taxed by good ol’ Uncle Sam! That means I am paying income taxes in the US and the country in which I am living and working. Fantastic.
To: ERJCaptain
Taxes in country of residence - yes.
Taxes paid to the IRS is after a certain dollar amount is reached;currently in the US72,000 range. No taxes until after that amount of earned income.
The usual deductions apply.
It used to be much higher - in the US$110,000 or so range. Standard avoidance method, and very legal, was to have wages deposited into a outside the country bank that had either branches in the US or had a reciprocal relationship with a US bank. Thus, the monies were not 'technically' brought into the US. But checks could still be written and credit cards were good to go.
Alas...the good old days......;)
64 posted on
06/30/2008 3:36:34 AM PDT by
Tainan
(Talk is cheap. Silence is golden. All I got is brass...lotsa brass.)
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