Citizenship Abroad to Avoid Paying Taxes...

[KaneKungFu123]

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You keep talking about how you dont even live in the US right now. Just out of curiousity, where do you live?

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i have an apartment in bkk, thailand, which is my base.

[MrMon]

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"If you file as a professional gambler, you can exclude up to $80,000 of income per year, so long as you stay outside the US for at least 330 days of a 360 day period."

have you done this?

the irs rules clearly show this isnt allowed!

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Gambling has nothing to do with it. If you live abroad, you get the $80K exemption. Of course, you might have to pay local taxes, but that's another story.

[KaneKungFu123]

[ QUOTE ]
[ QUOTE ]
"If you file as a professional gambler, you can exclude up to $80,000 of income per year, so long as you stay outside the US for at least 330 days of a 360 day period."

have you done this?

the irs rules clearly show this isnt allowed!

[/ QUOTE ]

Gambling has nothing to do with it. If you live abroad, you get the $80K exemption. Of course, you might have to pay local taxes, but that's another story.

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WRONG!!!!

[kagame]

i was born in england and still have citizenship there as well as the US

if i ever get too fed up here im definitely hightailing it back

btw, you REALLY need to file as a professional gambler, pm me if you need a set of links explaining how to do this and whatnot, i dont have it all on this computer

basically if you file as self employed you get tons of tax writeoffs and dont have to pay the steep gambling penalty, its just like anything else

beats losing your citizenship options

btw who else wants to move to japan?

[kagame]

just curious, what are living expenses like in thailand?

you own the appt im assuming?

[KaneKungFu123]

[ QUOTE ]
i was born in england and still have citizenship there as well as the US

if i ever get too fed up here im definitely hightailing it back

btw, you REALLY need to file as a professional gambler, pm me if you need a set of links explaining how to do this and whatnot, i dont have it all on this computer

basically if you file as self employed you get tons of tax writeoffs and dont have to pay the steep gambling penalty, its just like anything else

beats losing your citizenship options

btw who else wants to move to japan?

[/ QUOTE ]

hmm...

dont you have to pay SE tax and social security tax if you file as a pro?

i just rent appt. living expenses vary depending on how much i travel. maybe 1k/month.

[MrMon]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
"If you file as a professional gambler, you can exclude up to $80,000 of income per year, so long as you stay outside the US for at least 330 days of a 360 day period."

have you done this?

the irs rules clearly show this isnt allowed!

[/ QUOTE ]

Gambling has nothing to do with it. If you live abroad, you get the $80K exemption. Of course, you might have to pay local taxes, but that's another story.

[/ QUOTE ]

WRONG!!!!

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I bow to your expertise. Never mind that about three clicks on the IRS website will tell you differently, unless you have something in your background I don't know about.

You live for 330 days outside the U.S. per year, you get the exemption. How hard is that for you to understand? Show us where this isn't true? What's your source?

[KaneKungFu123]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
"If you file as a professional gambler, you can exclude up to $80,000 of income per year, so long as you stay outside the US for at least 330 days of a 360 day period."

have you done this?

the irs rules clearly show this isnt allowed!

[/ QUOTE ]

Gambling has nothing to do with it. If you live abroad, you get the $80K exemption. Of course, you might have to pay local taxes, but that's another story.

[/ QUOTE ]

WRONG!!!!

[/ QUOTE ]

I bow to your expertise. Never mind that about three clicks on the IRS website will tell you differently, unless you have something in your background I don't know about.

You live for 330 days outside the U.S. per year, you get the exemption. How hard is that for you to understand? Show us where this isn't true? What's your source?

[/ QUOTE ]

Maybe i am wrong here, which would be a great thing!

mmcd gave a strong argument in the other thread i created about this!

big thanks to you and kagame and any else who mentioned this exemption!

will look into it and update.

[DanS]

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Why not just pay your [censored] taxes you weasel?

Dogmeat [img]/images/graemlins/spade.gif[/img]

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i dont live in the US.

i never want to return to the US.

i beneft zero from paying taxes to the US.

i hate the US government and feel that they waste tax money.

i feel that the current tax laws are bullshit: especially gambling tax, death tax, gift tax.

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Dude, you live in your mom's basement somewhere in suburban U.S.A. Give it up, haha.

[MrMon]

If we just saved you $20K in taxes, we expect a cut! (Perhaps a donation to the Red Cross? It's tax deductible.)

Keep us updated.