Anonymous wrote:Anonymous wrote:The IRS taxes US citizens on global income.
For many overseas places, but not for every overseas place, a tax treaty means that the US IRS gives credit for foreign taxes that were paid. The specific language in tax treaties also varies widely. One needs to check carefully into what the tax implications are for each country being considered.
This.
The fact that you said this: "What are the U.S. tax implications?
[b]None, paying taxes at local country eliminates Uncle Sam’s authority"
Shows to me you don't understand the tax issues of living abroad as a US citizen. You will still need to file a US tax return.
Anonymous wrote:I would never consider totalitarian countries like China or direct-rule kingdoms like Dubai.
I would consider many other countries such as Spain, England, Ireland, Singapore, Japan, or Taiwan.
Anonymous wrote:The IRS taxes US citizens on global income.
For many overseas places, but not for every overseas place, a tax treaty means that the US IRS gives credit for foreign taxes that were paid. The specific language in tax treaties also varies widely. One needs to check carefully into what the tax implications are for each country being considered.
Only if a job even cared about those foreign languages. Many do not.Anonymous wrote:Anonymous wrote:Anonymous wrote:Are you young? Do you have your own kids?
Mid 30s
Something not factored in is retirement impact. Are you getting/losing credited service for a pension or 401K contributions?
[/b]I would assume we do. Frankly speaking, with inflation and big bank going unchecked I think it’s delusional to believe the current 401K is going to mean much in 20-30 years
What are the U.S. tax implications?
[b]None, paying taxes at local country eliminates Uncle Sam’s authority
Are you renting? Will you store your possessions for 3 years?
In America, yes. We will sell everything we ‘own’
Will both spouses be able to work? That's often an issue in expat situations.
Yes, already lining up different options that would be remote and paid in USD so increasing the savings CONSIDERABLY
Make sure the hosting institution is financially stable.
they’ve been in operation for decades and has presence in dozens of countries. It’s baffling tbh
Messed up the format. Our kids would study at the same institution for free and still have more perks than ‘local’ students due to DH employment. Plus, imagine the immediate impact in terms of marketplace competition when they are adults and they have Chinese mandarin or Arabic as fluent speakers. You just can’t compete against that even if Larla was the class president and captain of the cheerleading team.
Anonymous wrote:Anonymous wrote:Are you young? Do you have your own kids?
Mid 30s
Something not factored in is retirement impact. Are you getting/losing credited service for a pension or 401K contributions?
[/b]I would assume we do. Frankly speaking, with inflation and big bank going unchecked I think it’s delusional to believe the current 401K is going to mean much in 20-30 years
What are the U.S. tax implications?
[b]None, paying taxes at local country eliminates Uncle Sam’s authority
Are you renting? Will you store your possessions for 3 years?
In America, yes. We will sell everything we ‘own’
Will both spouses be able to work? That's often an issue in expat situations.
Yes, already lining up different options that would be remote and paid in USD so increasing the savings CONSIDERABLY
Make sure the hosting institution is financially stable.
they’ve been in operation for decades and has presence in dozens of countries. It’s baffling tbh
Anonymous wrote:Are you young? Do you have your own kids?
Mid 30s
Something not factored in is retirement impact. Are you getting/losing credited service for a pension or 401K contributions?
[/b]I would assume we do. Frankly speaking, with inflation and big bank going unchecked I think it’s delusional to believe the current 401K is going to mean much in 20-30 years
What are the U.S. tax implications?
[b]None, paying taxes at local country eliminates Uncle Sam’s authority
Are you renting? Will you store your possessions for 3 years?
In America, yes. We will sell everything we ‘own’
Will both spouses be able to work? That's often an issue in expat situations.
Yes, already lining up different options that would be remote and paid in USD so increasing the savings CONSIDERABLY
Make sure the hosting institution is financially stable.
Anonymous wrote:Delusional
People talk a big game with plans to live frugally, but it rarely works that way and the big savings never materialize.