taxes

[alien42]

i am trying to figure out the legality of US taxes. as a US citizen if i move to another country and work in that country it seems like i would not have to pay US taxes. anyone know if this is correct.

along the same lines. what are the taxation laws if i live in the US but travel abroad and make money abroad?

any other similar circumstances apply.

***title corrected from tax evasion (illegal) to tax avoidance (legal)***

 

[JDrake]

Cool pictures in your signature (bump^)

 

[miniMUNCH]

It depends... Are you a legal resident of another country (i.e. have a work VISA, etc.)? Who pays your wages and or how do your earn money? Did you pay taxes in another country and/or are you filling taxes in another country? Do you own or rent property in the US?

There are publications on the IRS website to answer your questions... furthermore, you can call the IRS to speak with IRS tax consultant, if you want.

IIRC, regardless of your situation, you still have to file taxes. You may not owe the gov. anything, but you have to file.

 

[Hayabusa Rider]

I don't know the answer to your question about working overseas, but there is by definition no such thing as legal tax evasion. Tax evasion is illegal. There is such a thing as tax avoidence

No one is under any obligation to pay any more tax than the law requires, and if the law provides a legal out you have not evaded, you were just smarter in taking advantage of it.

 

[Shadowknight]

Generally, you are liable for taxes earned in other countries, but you can get a credit for any taxes you pay overseas.

 

[alien42]

i ask specifically thinking about someone who plays the stock market full time. where would the best place to live be to avoid paying taxes?

 

[BlueSkyzz]

The Cayman Islands. No income tax there I think.

 

[gopunk]

talk to a tax lawyer

 

[Biggerhammer]

Uncle Sam will always get his piece of your money. Talk to an accountant with internation experience- or talk to American expats in the place where you are going. In either case, toe the line or your next visit to US soil may last longer than you had intended (they check the rolls of tax offenders on international flights).