News for hackers. Stuff that matters.
Re:Wealthy people are renouncing American citizenship by erikw on Thursday August 05, 2021 @02:13PM (#28077429)
Unfortunately if you have equity in the business, you'll get taxed. However, if you are only an employee, you get an exemption on something like $150,000 of income, housing, and other expenses. So as a US citizen, you can avoid taxes only by living outside the US, and being an employee of a non-US company. If anyone knows otherwise, please correct me as I'd greatly benefit!
Re:Wealthy people are renouncing American citizenship by mellavora on Thursday August 05, 2021 @04:09PM (#28078997)
nitpicking. You don't get out of taxes, you get out of paying US taxes (on earned income, you still have to pay capital gains).

But you still have to file US taxes. As an expat, you have more forms to fill out.

AND the bigger challenges are banking. You still have to find a bank willing to open an account for you, and good luck getting more complex financial services.

Re:Wealthy people are renouncing American citizenship by Maursault on Thursday August 05, 2021 @03:34PM (#28078438)