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A comment on Switzerland in the age of automatic exchange of banking information. Parent comment

Re:Switzerland in the age of automatic exchange of banking i... by kube-system on Wednesday September 18, 2019 @07:40PM (#21011703)
The most obvious is something like state department emergency assistance, but there's plenty of US government programs without a residency requirement.

For example: federal student aid doesn't require US residency.

https://studentaid.ed.gov/sa/types/international

Also, the taxes that the US imposes on citizens overseas has some pretty significant exceptions. US citizens can deduct over $100,000 worth of their foreign-earned income and part of their housing expenses.

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Re:Switzerland in the age of automatic exchange of banking i... by Scoundreller on Wednesday September 18, 2019 @08:24PM (#21011980)
That’s part of the mess: the US tax system isn’t the same as others’, so you now have to optimize for 2 systems.

Differing rules of what’s a short-term vs long term capital gain.

E.g.: Canada doesn’t tax capital gains on your Primary residence when you sell it, but US does.

And buying a non-US ETF can create another tax mess since you’ve now bought into a multibillion dollar trust that doesn’t file with the US gov.

The US doesn’t see your Canadian Tax-free savings account as tax free, so now you have to keep track of every transaction in there.

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Re:Switzerland in the age of automatic exchange of banking i... by MR4D on Wednesday September 18, 2019 @09:52PM (#21012467)
The us does not tax capital gains on your primary residence unless you lived in it for less than 2 years.

https://www.investopedia.com/ask/answers/06/capitalgainhomes...

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Re:Switzerland in the age of automatic exchange of banking i... by Scoundreller on Wednesday September 18, 2019 @11:56PM (#21013141)
Seems even more complicated than that. It's only on $250k in gains, or $500k if you're a couple filing jointly.

It's a lot of money, but if you bought a house in Canada in Toronto/Vancouver 30 years ago, you'd be paying US CGT on its sale.

And can a US-citizen/non-US-citizen couple still file jointly?

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Re:Switzerland in the age of automatic exchange of banking i... by generatorguy on Thursday September 19, 2019 @12:36AM (#21013337)
In the US you also got to deduct the interest you paid on your mortgage from your taxable income for 30 years.
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Re:Switzerland in the age of automatic exchange of banking i... by kube-system on Thursday September 19, 2019 @01:23AM (#21013522)
I never said our tax code wasn’t complicated. I simply said expatriates still get some services for their tax dollars.

I’ll be first in line to complain about complicated taxes. I file three income tax returns, thanks to the fact I live in a jurisdiction with local income taxes as well as state and federal.

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