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Sounds a lot like what people went through in the 1700’s.
Ramifications of U.S. Crackdown on Foreign Tax Havens can be seen at [ https://www.welovecostarica.com/members/Ramifications_of_US_Crackdown_on_Foreign_Tax_Havens.cfm ]
Can we all say Taxation without Representation.
you pay the IRS for any profits you make regardless of where you live, once a US citizen who will pay TAXES until you DIE
warren
[quote=”csenig”]Will you have to pay Tax in the US on money you make with the sale of your home?
Buttean[/quote]
The answer is assuredly “Yes”. And bear in mind that the foreign earnings tax exclusion is only an exclusion for income from employment. It does not apply to interest, rents, profits from sales, etc. Those are all fully taxable as if made in the U.S.
That’s easy. Renounce your citizenship.
I’ve heard you get the SS money you paid in as a lump sum??
I’ll look into it and post back.
I’m done with the empire.not so easy to renounce your citizenship, and you’re still on the hook for ten years after for any taxes you might not have paid. you might be done with the empire, but they aren’t done with you! jejeje
maravilla is absolutely correct. You cannot renounce your citizenship merely to avoid taxes. And regardless of your citizenship, taxable income derived from a U.S. source will continue to be taxable in the U.S. So if you have a taxable pension, if part of your Social Security is taxable, or if you have other taxable events in the U.S., they will be taxable just as they would be to (say) a citizen of France or Argentina regardless of where they live.
What’s more, you might want to give some consideration to what you’ll do once you’ve renounced your U.S. citizenship. That won’t automatically make you a citizen of some other country, and obtaining an alternative citizenship probably will be no cakewalk. In the meantime, what passport will you use?
Too, your Costa Rican [u]residency[/u] may be based, at least in part, on your U.S. citizenship. What considerations might that imply?
Don’t rush into this blindly.
The U.S. tax witch hunt has only begun. The Obama administration is seeking to recapture monies allowed to be off-shored by the George Bush administration. In addition, the cost of two wars is staggering, the U.S. is paying millions in cash to Sunni insurgents not to shoot at U.S. soldiers, and, paying Pakistan millions to combat insurgents in Pakistan. In summation, the U.S. is seeking every cent it can find worldwide. The CIA and DEA are currently very active in Costa Rica, smell the coffee, the IRS will be setting up shop in San Jose soon!
I have been assured that the IRS has had people working from within the US Embassy here for many years…
Hang on to that passport of the Empire. As a legal Honduran immigrant waiting for the time when he can apply for his US citizenship told me, a US passport is like gold and how lucky I was to have one. Little wonder they are among the most highly stolen.
Wanting to renounce citizenship may seem like a good thought in a moment of fantasy, but reality does have a way of changing things.
Funny how a matter of location and perspective can offer varying thoughts on a subject.
Expatriation is much easier than most people think. It is the fear instilled by the government that stops people from going throuh with it. I have been researching the subject for several years now and communicating with people who have done it. It takes some planning, like liquidating assets over time. There is a two year window right now to roll a 401k over into a Roth IRA and pay the taxes on the “income” over two years. Most professionals exceed the threshhold and cannot make any contributions, but after 5 years it can be withdrawn. If you don’t have any assets in the US to seize, the leverage is gone. Also, you cannot expatriate unless you already have a passport from another country. Social Security will not exist by the time I am 55 and I have never considered it as part of retirement.
Lets face it, with all the debt that is being racked up by Oblahblahblahma, the government wants you as a wage earning slave.It feels like a Communist country…Government government government in everything..shishhh. Let the people BE.
I must confess that I do NOT understand the concept that the US is moving towards “socialism.”
Surely we are talking about fascism…?
The fourteen characteristics of fascism from [ http://www.fascismusa.com/ ]
1. Powerful and Continuing Nationalism – Fascist regimes tend to make constant use of patriotic mottos, slogans, symbols, songs, and other paraphernalia. Flags are seen everywhere, as are flag symbols on clothing and in public displays.
2. Disdain for the Recognition of Human Rights – Because of fear of enemies and the need for security, the people in fascist regimes are persuaded that human rights can be ignored in certain cases because of “need.” The people tend to look the other way or even approve of torture, summary executions, assassinations, long incarcerations of prisoners, etc.
3. Identification of Enemies/Scapegoats as a Unifying Cause – The people are rallied into a unifying patriotic frenzy over the need to eliminate a perceived common threat or foe: racial , ethnic or religious minorities; liberals; communists; socialists, terrorists, etc.
4. Supremacy of the Military – Even when there are widespread domestic problems, the military is given a disproportionate amount of government funding, and the domestic agenda is neglected. Soldiers and military service are glamorized.
5. Rampant Sexism – The governments of fascist nations tend to be almost exclusively male-dominated. Under fascist regimes, traditional gender roles are made more rigid. Divorce, abortion and homosexuality are suppressed and the state is represented as the ultimate guardian of the family institution.
6. Controlled Mass Media – Sometimes to media is directly controlled by the government, but in other cases, the media is indirectly controlled by government regulation, or sympathetic media spokespeople and executives. Censorship, especially in war time, is very common.
7. Obsession with National Security – Fear is used as a motivational tool by the government over the masses.
8. Religion and Government are Intertwined – Governments in fascist nations tend to use the most common religion in the nation as a tool to manipulate public opinion. Religious rhetoric and terminology is common from government leaders, even when the major tenets of the religion are diametrically opposed to the government’s policies or actions.
9. Corporate Power is Protected – The industrial and business aristocracy of a fascist nation often are the ones who put the government leaders into power, creating a mutually beneficial business/government relationship and power elite.
10. Labor Power is Suppressed – Because the organizing power of labor is the only real threat to a fascist government, labor unions are either eliminated entirely, or are severely suppressed.
11. Disdain for Intellectuals and the Arts – Fascist nations tend to promote and tolerate open hostility to higher education, and academia. It is not uncommon for professors and other academics to be censored or even arrested. Free expression in the arts and letters is openly attacked.
12. Obsession with Crime and Punishment – Under fascist regimes, the police are given almost limitless power to enforce laws. The people are often willing to overlook police abuses and even forego civil liberties in the name of patriotism. There is often a national police force with virtually unlimited power in fascist nations.
13. Rampant Cronyism and Corruption – Fascist regimes almost always are governed by groups of friends and associates who appoint each other to government positions and use governmental power and authority to protect their friends from accountability. It is not uncommon in fascist regimes for national resources and even treasures to be appropriated or even outright stolen by government leaders.
14. Fraudulent Elections – Sometimes elections in fascist nations are a complete sham. Other times elections are manipulated by smear campaigns against or even assassination of opposition candidates, use of legislation to control voting numbers or political district boundaries, and manipulation of the media. Fascist nations also typically use their judiciaries to manipulate or control elections.
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