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I don't understand why any idiot would want to renounce their citizenship. What would you gain from it? Just leave your dumb citizenship alone and go get another one if you really want. No need for a really cool social statement. Speaking of American customs, going through Charlotte Douglas was a piece of cake in my case.
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Sep 3, 2017 13:32
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rear end posted:I don't understand why any idiot would want to renounce their citizenship. What would you gain from it? Just leave your dumb citizenship alone and go get another one if you really want. No need for a really cool social statement. If you've moved your life completely to another country that doesn't allow dual citizenship? There might be a bunch of benefits to being a citizen of your new country that you can't access until you become a citizen, and that process might require giving up whatever citizenship you already hold. As someone already alluded to, Australia is having a comical crisis where politicians who hold dual-citizenship are ineligible to be in parliament. A whole bunch of politicians are discovering that they're accidentally dual-citizens without even knowing; eg because my dad was born in the UK, that makes me a British citizen as well until I formally renounce it. Even if I've never known about it or done anything with it.
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Sep 3, 2017 13:43
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There are super rich people who renounce American citizenship to avoid taxes but otherwise yeah it's a whole range of options to throw away for no benefit.
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Sep 3, 2017 13:43
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The Great Autismo! posted:mansplaining.txt Did you just assume my gender?! rear end posted:I don't understand why any idiot would want to renounce their citizenship. What would you gain from it? Just leave your dumb citizenship alone and go get another one if you really want. No need for a really cool social statement. Grand Fromage posted:There are super rich people who renounce American citizenship to avoid taxes but otherwise yeah it's a whole range of options to throw away for no benefit. Meeeh you have to do paperwork, and also the current point at which you need to start paying additional taxes is just over 100k/year, so you don't really have to be "super rich", just middle management or in a high paying job. There are programmers and investment bankers and the like that make that their first year of work.
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Sep 3, 2017 14:10
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If youve moved abroad and earn money not in the us and pay tax elsewhere the US still taxes your foreign earnings, I've been told Seems like a good reason to give citizenship up if true
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Sep 3, 2017 14:25
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Giving up US citizenship is only worth it if you plan on living longer than another 10 years! ! Btw I know a Japanese-American guy who had to renounce his Japanese citizenship to qualify for the JET program.
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Sep 3, 2017 14:38
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simplefish posted:If youve moved abroad and earn money not in the us and pay tax elsewhere the US still taxes your foreign earnings, I've been told They tax earnings over $106,000, like Limburg said. If you're making enough to pay American taxes you should shut the gently caress up and count your blessings and contribute. The people I'm talking about who are renouncing citizenship are the ones trying to hide hundreds of millions of dollars and not pay taxes on it.
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Sep 3, 2017 14:44
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Grand Fromage posted:They tax earnings over $106,000, like Limburg said. If you're making enough to pay American taxes you should shut the gently caress up and count your blessings and contribute. The people I'm talking about who are renouncing citizenship are the ones trying to hide hundreds of millions of dollars and not pay taxes on it. If I'm earning a poo poo ton of money outside the us then im not gonna pay a dime on a technicality
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Sep 3, 2017 14:55
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Wow, I don't care as much about this rather small aspect of my life as you guys seem to. The Great Autismo! posted:mansplaining.txt I don't think all men want to be lumped in with people like LimburgLimbo; that's not fair!
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Sep 3, 2017 15:59
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LimburgLimbo posted:Did you just assume my gender?!  Meeeh
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Sep 3, 2017 16:03
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I thought if you lived outside of the States for more than two years you could fill out some paperwork that would make you exempt from paying taxes (until you moved back, that is).Fleta Mcgurn posted:Wow, I don't care as much about this rather small aspect of my life as you guys seem to. What country are you trying to be a citizen (or not a dual citizen) of? Also, that 14 year old said he was being recruited, said he would get 100 grand after the thing in China, and ALSO the company would pay for his college (Stanford?). I wonder what happened to all that? Hmm...
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Sep 3, 2017 16:20
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nickmeister posted:What country are you trying to be a citizen (or not a dual citizen) of? Dual US/UK. I'm also eligible for Greek citizenship but I haven't researched the process yet. Would be nice to dodge Brexit, though. If you make under $80,000 USD a year, you don't need to pay taxes on overseas earnings as far as I know. Not claiming to be an expert.
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Sep 3, 2017 16:24
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Fleta Mcgurn posted:Dual US/UK. I'm also eligible for Greek citizenship but I haven't researched the process yet. Would be nice to dodge Brexit, though. Bickering and pendatry aside; you say you're not sure so am I to take it that you maybe haven't been filing? Be careful because the exception only works as long as you file for it. If you haven't done it it's probably still not too late to backfile a whole bunch, but if they start to audit you then apparently you can't use the exemption and need to pay normal tax rate for all the years you missed.
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Sep 3, 2017 16:29
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Trump running face game on China https://twitter.com/realDonaldTrump/status/904307898213433344
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Sep 3, 2017 16:32
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Assume greek citizenship for maximum profit. UK citizenship sounds like a pretty useless thing now that they leave the EU.
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Sep 3, 2017 16:33
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nickmeister posted:I thought if you lived outside of the States for more than two years you could fill out some paperwork that would make you exempt from paying taxes (until you moved back, that is). No. You just don't have to pay anything unless you're making a lot of money. There are also various tax treaties with some countries. For an example, as an American working in certain fields you don't have to pay South Korean taxes the first two years you live there. If you're raking in the cash then you have to start investigating tax haven islands and law loopholes and poo poo if you want to evade taxes.
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Sep 3, 2017 16:36
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Fleta Mcgurn posted:Dual US/UK. I'm also eligible for Greek citizenship but I haven't researched the process yet. Would be nice to dodge Brexit, though. It goes up every year a little bit. For 2016 i think it was like 104k USD or so? You can also usually exempt all or part of the income taxes you pay in the country you're in from the US taxes you would owe depending on the tax treaty, so the actual "you gotta pay America" amount is even higher than that usually. Filing FBAR every year is more annoying than the taxes imo, tho.
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Sep 3, 2017 17:00
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Grand Fromage posted:No. You just don't have to pay anything unless you're making a lot of money. There are also various tax treaties with some countries. For an example, as an American working in certain fields you don't have to pay South Korean taxes the first two years you live there. Invest your money in gold. Wait until North Korea starts talking poo poo. Sell everything
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Sep 3, 2017 17:01
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honestly expected them to loop around the cart a couple times while making three stooges noises
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Sep 3, 2017 17:09
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https://fat.gfycat.com/ThankfulDangerousAnaconda.webm
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Sep 3, 2017 17:28
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Son of Rodney posted:Lmao of course america fleeces it's citizens even when they are trying to get out The expat tax only applies to these groups: The IRS posted:Your average annual net income tax for the 5 years ending before the date of expatriation or termination of residency is more than a specified amount that is adjusted for inflation ($151,000 for 2012, $155,000 for 2013, $157,000 for 2014, and $160,000 for 2015). It's entirely designed to keep wealthy people from ditching to avoid taxes without paying at least some of their obligation. Much like the estate tax, this tax doesn't come close to touching average americans.
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Sep 3, 2017 17:40
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cool discussion
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Sep 3, 2017 18:26
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Kaiju Cage Match fucked around with this message at 19:05 on Sep 3, 2017 |
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Sep 3, 2017 19:02
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citizenship is bullshit anyway
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Sep 3, 2017 20:23
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I am a free citizen of the world
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Sep 3, 2017 21:38
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If any of you want to renounce their US citizenship please send it my way. I'll gladly accept it.
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Sep 4, 2017 00:38
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rear end posted:I don't understand why any idiot would want to renounce their citizenship. What would you gain from it? Just leave your dumb citizenship alone and go get another one if you really want. No need for a really cool social statement. Also, what if you've lived most of your life in another country and don't really feel like you're part of that culture anymore? My parents are from Spain and I've lived my entire life in Germany, other than the expense and hassle I see little reason to keep my Spanish citizenship. In fact I might be entitled to dual citizenship, but just the thought of having to go through the renewal process for my Spanish passport every ten years has led me to consider to just get the German nationality and be done with it. At least I'll finally be able to vote in a place that matters to me. Lollerich fucked around with this message at 00:55 on Sep 4, 2017 |
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Sep 4, 2017 00:48
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Lollerich posted:From what I understand Americans still have to pay income tax even if they don't actually live in the US. That seems like a lovely deal to me, especially because AFAIK no other nation on the planet requires this from their citizens. Russians are technically required to pay up to 100% tax on any overseas earnings/holdings. Enforcement is of course, entirely discretionary.
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Sep 4, 2017 00:49
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As a Mexican: rear end posted:If any of you want to renounce their US citizenship please send it my way. I'll gladly accept it.
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Sep 4, 2017 00:53
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As said above, the annoying things for me as an expat are not paying taxes (as I don't earn enough as a teacher to come anywhere near the threshold) but all the dumb paperwork I have to file just because I'm American. Getting married was a terrible move and now I know why so many people overseas have a ceremony, but don't ever sign the paperwork. Basically, as soon as I married my wife, who is far more responsible with money than I am, I gained a stake in her savings, and so now must report the existence of all of her bank accounts to the IRS. The intent of course is to prevent wealthy expats from hiding money in their spouses' accounts, but this is the one time the net is very wide. Additionally, whenever I open a bank account I have to go through a bunch of extra paperwork so that the foreign bank can report my activity to the IRS if necessary. Even small rear end local Thai banks with no international ambitions comply with IRS regulations. This has led to all sorts of fun conversations. "Please give us your permanent address in the US." "I don't have one." "But you are American." "I left in 2008." "So what was your address when you left?" "The building was literally demolished." (this is true) "What is your parents' address?" "My parents are dead." (not true, but I wanted to see what would happen) *looks at passport, notices Place of Birth is Maine* "Your permanent address is Maine." That at least worked to get the account open. Then I lost my ATM card and wanted to apply for a replacement. "What is your permanent address." "Maine." *stares at screen for a long time, presses buttons on computer, calls manager* "No. The system has rejected it." *repeat conversation from above* Eventually I just caved and gave them my parents' address, but it's super loving frustrating because there's no system in place for if I really didn't have an address I could put down. It would be possible for me to have cut all ties with my family and friends back in the States, but I couldn't do any banking overseas without an address. It's in situations like these I'm tempted to give out 1600 Pennsylvania Ave as my address.
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Sep 4, 2017 02:34
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We suffer too. Any account I open over here I have to tell the US hovernment what I'm doing and that I'm not a US citizen, even though neither I nor the account has anything to do with America
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Sep 4, 2017 04:11
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This is the first I've heard of any of this, I've never filled out any kind of America-related paperwork to do anything in Asia unless you count visa/passport stuff.
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Sep 4, 2017 04:19
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Grand Fromage posted:This is the first I've heard of any of this, I've never filled out any kind of America-related paperwork to do anything in Asia unless you count visa/passport stuff. Recently when I opened an account in Singapore I needed to provide my SSN so they can send the info to the US. Generally speaking banks now have to report the accounts of any US citizens
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Sep 4, 2017 04:23
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Grand Fromage posted:This is the first I've heard of any of this, I've never filled out any kind of America-related paperwork to do anything in Asia unless you count visa/passport stuff. Seriously? The FBAR stuff is more recent, I think coming into affect around 2013? Basically if any foreign account(s) you are a stakeholder in have a combined value of over $10,000USD you must report the existence of all of your foreign assets. This isn't a tax. It's self-reporting. So for instance my friend worked for a Japanese company that had factories in Bangkok. As their man on the ground, he was a signatory on their bank accounts in Thailand and so he had to report the existence of those bank accounts annually to the IRS. It wasn't even his money, he just had access to it. It's not totally onerous. You go to the website, fill in the information, and submit it. Repeat once a year. There's another one that I haven't qualified for yet that is something like $50,000USD in foreign assets. The other stuff is if you open a new bank account and every account I've applied for in Thailand and Taiwan in the last few years has had the paperwork.
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Sep 4, 2017 04:24
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Yeah I've never had to do anything of the sort in Korea or China and I've opened several accounts in both. I know about the FBAR but I don't have anything close to $10,000 so it doesn't matter.
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Sep 4, 2017 04:34
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angel opportunity posted:cool discussion
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Sep 4, 2017 04:35
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LimburgLimbo posted:Recently when I opened an account in Singapore I needed to provide my SSN so they can send the info to the US. Generally speaking banks now have to report the accounts of any US citizens And as I said, also the accounts of non-us citizens it seems (in cas I'm lying about not being a US tax resident I guess?). I don't like foreign governments gathering data on me, but Team America gonna World Police Grand Fromage posted:Yeah I've never had to do anything of the sort in Korea or China and I've opened several accounts in both. I know about the FBAR but I don't have anything close to $10,000 so it doesn't matter. In HK at least it's regardless of account opening balance
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Sep 4, 2017 04:35
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where is SheepGoats or whatever his name was, that was transferring money from China to Canada and the US confiscated it en route?
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Sep 4, 2017 04:37
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Grand Fromage posted:Yeah I've never had to do anything of the sort in Korea or China and I've opened several accounts in both. I know about the FBAR but I don't have anything close to $10,000 so it doesn't matter. Don't marry anyone responsible or manage a business's finances I guess.
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Sep 4, 2017 04:38
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Atlas Hugged posted:Don't marry anyone responsible or manage a business's finances I guess. No danger of either of those happening 
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Sep 4, 2017 04:58
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