▲ 250 ▼ The Caribbean islands that give you a passport if you buy a home (www.bbc.com) submitted 10 months ago by Quilotoa@lemmy.ca to c/mildlyinteresting@lemmy.world 68 comments fedilink hide all child comments
[–] ccunning@lemmy.world 14 points 10 months ago* (last edited 10 months ago) (3 children) Check out the Foreign Earned Income Exclusion… permalink fedilink source parent hideshow 3 child comments replies: [–] CmdrShepard49@sh.itjust.works 2 points 10 months ago (1 child) "Earned income" means W2 wages not capital gains or any of the other avenues rich people make their money. permalink fedilink source parent hideshow 1 child comment replies: [–] TWeaK@lemmy.today 1 point 10 months ago Yeah essentially it's just a set of agreements the US has with other nations, each of which is different. But basically your overseas income up to certain amounts will be tax exempt in the US. This is to account for the fact that you're also paying overseas taxes and using overseas social services instead of US ones. You still have to file your overseas income, but you don't end up paying any taxes on it, unless it crosses the threshold. permalink fedilink source parent [–] Alexstarfire@lemmy.world -1 points 10 months ago I don't see how that would apply to someone not actually living outside the US as this sub-thread suggests. permalink fedilink source parent
[–] CmdrShepard49@sh.itjust.works 2 points 10 months ago (1 child) "Earned income" means W2 wages not capital gains or any of the other avenues rich people make their money. permalink fedilink source parent hideshow 1 child comment replies: [–] TWeaK@lemmy.today 1 point 10 months ago Yeah essentially it's just a set of agreements the US has with other nations, each of which is different. But basically your overseas income up to certain amounts will be tax exempt in the US. This is to account for the fact that you're also paying overseas taxes and using overseas social services instead of US ones. You still have to file your overseas income, but you don't end up paying any taxes on it, unless it crosses the threshold. permalink fedilink source parent
[–] TWeaK@lemmy.today 1 point 10 months ago Yeah essentially it's just a set of agreements the US has with other nations, each of which is different. But basically your overseas income up to certain amounts will be tax exempt in the US. This is to account for the fact that you're also paying overseas taxes and using overseas social services instead of US ones. You still have to file your overseas income, but you don't end up paying any taxes on it, unless it crosses the threshold. permalink fedilink source parent
[–] Alexstarfire@lemmy.world -1 points 10 months ago I don't see how that would apply to someone not actually living outside the US as this sub-thread suggests. permalink fedilink source parent