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|Subject: Re: Retiring to Scotland||Date: 1/20/2004 1:35 PM|
|Author: WeeBeastie||Number: 1819 of 5068|
My understanding was that U.S. citizens as well as Resident Aliens have to pay U.S. income taxes no matter where in the world they live
Only amounts over $80,000 are subject to US tax. I don't need that amount for ER. There is talk about the US revoking the $80K exemption, but personally I don't believe it will happen as most of the beneficiaries are employees of oil companies working in the Middle East. I just have a feeling that oil companies have quite a lot of weight with the current administration.
Also, one needs to look at the proposed country of residence. There are many tax treaties between nations that exempt certain types of income from dual taxation. The US/UK treaty is pretty fair.
Anyhow, I'm not a US resident alien (for immigration purposes; obviously I am for tax purposes). At the current rate of processing, I should get my green card in 10.5 years, so there's nothing to worry about there! :D
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