you can avoid paying earned income taxes altogether by living outside of the US for more than 330 days out of the fiscal year.
this is called foreign earned income exclusion.
investment income is different; investment income is not excluded by the FEIE, only earned income, so you wouldn’t be able to avoid paying investment income tax to the US unless you immigrated to to another country.
I was very confused at the responses I was getting here at first, but after reading them and thinking about things a bit more it does basically come down to taxes even if it isn’t explicitly taxes I was trying to avoid.
All the perceived privacy, constitution weirdos and early crypto enthousiast advocating for privacy laws start to make more sense when you don’t consider your government as a perpetual force of good :)
Just experience what you’re feeling. The angst, despair, uncertainty. Imagine it accumulating for decades. All whilst the majority of people at best dismiss your experience, telling you to chill out, proclaiming your feelings aren’t valid. Or worse, call you evil and anti-social :)
That’s the emotional context in which the US was born, and why some people are attracted to it’s constitution. It’s an exceptionally intelligent response to those feelings.
But to people who can’t empathize with those feelings: the colonies ceded from England due to taxes, they just didn’t want to contribute their fair share into the commonwealth. They’re evil and anti-social.
you can avoid paying earned income taxes altogether by living outside of the US for more than 330 days out of the fiscal year.
this is called foreign earned income exclusion.
investment income is different; investment income is not excluded by the FEIE, only earned income, so you wouldn’t be able to avoid paying investment income tax to the US unless you immigrated to to another country.
Yeah - I’ve claimed it before. This isn’t really a tax avoidance question though.
It is, in a way. You want a strong 4th amendment, I think.
But there’s not much left of it (1), to “make sure everyone pays it’s fair share” and later to “keep you safe from terrorists”
Yup. I think you’re right.
I was very confused at the responses I was getting here at first, but after reading them and thinking about things a bit more it does basically come down to taxes even if it isn’t explicitly taxes I was trying to avoid.
TIL
All the perceived privacy, constitution weirdos and early crypto enthousiast advocating for privacy laws start to make more sense when you don’t consider your government as a perpetual force of good :)
Whoa whoa whoa - let’s not get tooooo crazy here…
😜
Just experience what you’re feeling. The angst, despair, uncertainty. Imagine it accumulating for decades. All whilst the majority of people at best dismiss your experience, telling you to chill out, proclaiming your feelings aren’t valid. Or worse, call you evil and anti-social :)
That’s the emotional context in which the US was born, and why some people are attracted to it’s constitution. It’s an exceptionally intelligent response to those feelings.
But to people who can’t empathize with those feelings: the colonies ceded from England due to taxes, they just didn’t want to contribute their fair share into the commonwealth. They’re evil and anti-social.
oh, so what did you mean by “outside the reach of the federal government” rather than tax avoidance, just foreign investment opportunities?
Seizing/freezing.
then all you have to do is file the FBAR and pay your taxes every year and you can invest anywhere you want, however much you want.
How so? You think reporting accounts to the IRS keeps the US from seizing/ freezing accounts?
Not following your train of thought
I assume you are afraid of a political act causing this and not because of a debt or criminal act? I don’t think the other poster gets that
⭐️
Yes, reporting foreign income and paying taxes is exactly what keeps the US from seizing and freezing accounts.
you said you don’t want to avoid paying taxes.
If you report your accounts and investment income and pay taxes, then you’re in no danger of the US government seizing or freezing your accounts.
I don’t know if you’ve been following the news but I’d say that’s wishful thinking at this point.
i have.
you want to be part of the US tax system while being “out of reach of the federal government”, two aims you should understand are incompatible.
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