@ed_in_burgh: @Kacie Rose did a great post about how American citizens still have to file taxes on foreign money they earn even if they're not living in the USA, but in practice you would probably never owe any money on it to the US because of the Foreign Earned Income Exclusion and other tax deductions #expat #expatlife #livingabroad #taxdeduction #irs #foreignearnedincomeexclusion #taxadvice
Only two countries in the world do this: The USA and Eritrea
2024-09-12 09:51:37
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Edward Ward :
What exactly are the IRS going to do if your living in a different country no US assets and you dont pay? Your not in the US so what can they do?
2024-09-12 09:48:46
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Vicky Vixen :
I was going to ask you about this 🤣.
2024-09-12 09:42:14
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jenedwards638 :
So you still have to file your taxes every year in the US, even if you live abroad and don’t need to pay anything? Seems like a hassle to do it every year when you don’t live there.
2024-09-12 14:24:25
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Carlos Alvarado Mart :
Millionaires in Andorra, for instance. They have 10% flat income tax.
2024-09-12 12:41:23
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E s :
still a tax to pay like 300 -500 dollars to fill in your taxes.
2024-09-13 10:12:25
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Oxpecker :
Also, even if you think you’ll never come back make sure you file every year. Just in case you do, and you end up wanting to get a mortgage or loan or something.
2024-09-14 04:43:49
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chriswidmer675 :
How does exchange rate factor in? I assume the value of a pound vs a dollar could change between various stages of the process potentially impacting tax rates etc.
2024-09-13 18:04:18
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NottheWriter :
same in Australia
2024-09-12 10:38:48
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RayJay_Tzioni🎗️ :
Perfect explanation Ed. Thank you! I had always wondered about this.
2024-09-12 10:10:27
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Sarah with PCOS :
Oh I love it when there’s a crossover with two people I love and follow. 😂
2024-09-12 09:47:17
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monterey pop ☮️✌🏻 :
Thank you. Good info.
2024-09-12 19:44:58
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jamesworthington62 :
NZ reports my tax income to the UK so the HMRC knows I'm earning but not in the UK we just don't have to file anything.
2024-09-15 06:38:30
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TRASH ROB :
which comes off first, US or local income tax?
2024-09-14 18:52:44
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Direct Gaming :
What site/ service do you use to file your taxes then?
2024-09-14 08:02:52
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Quilly and Quavy :
Oh it is not nearly as bad as I thought it was! I honestly thought you were basically getting taxed twice! 😳😊
2024-09-13 00:47:01
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Glasgow girl :
That’s crazy
2024-09-12 20:02:03
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InglouriousNerd :
Perfect explanation. It sucks the US is one of two countries that loves to tax it's citizens abroad. they also want to see my foreign bank accounts over 10k.
2024-09-12 09:46:21
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snuffleses :
See this is a vital piece of information I feel was purposely withheld by her to farm engagement. 😉
2024-09-12 09:34:05
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Dave :
Anyone you recommend? The missus has a hell of a time finding anyone reasonable every year
2024-09-12 10:02:34
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mart.ron :
Why tf does this guy have to tell me relevant sht every time I get high , I only want to heare about Nicholas Rossi , not to be reminded that I’m late to file taxes . (Btw the weight loss looks
2024-09-14 03:44:01
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boredmechanic1985 :
The Land of the Free wants to know how much its citizens is making while abroad? 😱😂
2024-09-12 09:54:13
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TC :
Internatiomal Civil servants (UN and others) have to pay tax to the US as they are tax except everywhere, the then the US pays the UN to repay the US staff member so that they don’t pay tax… Only US
2024-09-12 09:49:14
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mimmymac09 :
like our outgoing PM 😂
2024-09-12 10:09:34
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Darren Mc :
Just a heads up to anyone this affects. The exemption only applies IF you file a return with the IRS. If you don't file anything they will absolutely hammer you.
2024-09-12 15:18:19
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