Quote:
Originally posted by SuckOnThis
Anyone thats a US citizen that moves to another country still has to pay taxes to the US. The only way around this is to give up your citizenship.
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I love dumb people...
If you are a full time resident abroad for a full calendar year, or live there for 330 days out of any consecutive 12-month period, you can exclude up to $80,000 of earned income from U.S. Income Taxation for 2003, 2004, and beyond. If you are married, and both of you earn income and reside abroad, you can also exclude up to another $80,000 of your spouse?s income from taxation. These exclusions can only be claimed by filing a tax return and are not automatic if you fail to file your Form 1040 for the year it applies (as well as the appropriate forms claiming this exclusion). Earned income is income you earn for your work or services and does not include rental income, dividend or interest income, or other types of income that are not paid for your own personal efforts. You can also claim an additional exclusion or deduction for your foreign housing expenses exceeding a standard amount established by the Federal Government.