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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.
 
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primitive
Mar 14, 2001


I AM A CHEAPSKATE WHO HAS HAD THE STUPID NEWBIE BABY AVATAR FOR 12 YEARS.
Couple of questions:

1. I have been living in the UK on a series of temporary assignments since late 2009. Thelast state in which I was domiciled before I moved was SC. What are the necessary / sufficient conditions for breaking SC residency? I would very much like to stop paying them taxes.

2. I have some equity compensation (ISOs) I would like to use to buy investment property. I am interested in figuring out:

a. The most tax-efficient way to structure the purchase. I plan on eventually moving back to the USA, possibly (probably) into this investment property. If I purchase it myself, I believe I get to write off the mortgage interest and repairs during the time it is an investment property, and then continue to write off the interest once it becomes my domicile. However, I may have other options, ideas??

b. Because I am not domiciled in the UK, my UK taxes are on a remittance basis. Because I am not remitting my equity income into the UK, HMRC doesn't see it for capital gains purposes, correct?

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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.