GoFuckYourself.com - Adult Webmaster Forum - View Single Post - US Citizens living OUTSIDE the US: Where do you live & what kind of taxes do you pay?

DWB · 06-06-2005, 02:12 AM

If you are out of the US and earning foreign income for 360 something days (forget the exact number) you can get an $80k exemption on your taxes. Plus you can still have all your deductions. You can get exact details on the IRS web site.

The trick is to not get double taxed by the US and the country you are living in. Your best to bank in one country and live in another. For example if your business is in Panama, as long as you do not do business IN Panama you do not pay taxes to them. You just pay to the US. Bank in Panama, live somewhere else... that sort of thing.

Of course there are other slippery ways to reduce your tax burden...

06-06-2005, 02:12 AM
DWB Registered User Industry Role: Join Date: Jul 2003 Location: Encrypted. Access denied. Posts: 31,779	If you are out of the US and earning foreign income for 360 something days (forget the exact number) you can get an $80k exemption on your taxes. Plus you can still have all your deductions. You can get exact details on the IRS web site. The trick is to not get double taxed by the US and the country you are living in. Your best to bank in one country and live in another. For example if your business is in Panama, as long as you do not do business IN Panama you do not pay taxes to them. You just pay to the US. Bank in Panama, live somewhere else... that sort of thing. Of course there are other slippery ways to reduce your tax burden...