Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 12-25-2015, 09:18 AM   #21
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
Quote:
Originally Posted by Sunset View Post
While that is the general principle, it does not really work all that well in practice so a person should expect to be double taxed on a small bit of the income.
Well there might be some tax free items in one country that will be taxed in the other, but the assumption should be that you will pay the higher of the two tax bills.
__________________

__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
nun is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-25-2015, 09:20 AM   #22
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
Quote:
Originally Posted by bmcgonig View Post
Without auditing you and looking at airline tickets or whatever, how do they know you have been there for 183 days. In fact how so they even know you're there at all? They don't seem to track me when I enter, I.e., stamping my passport etc.


Sent from my iPad using Early Retirement Forum
Tax fraud is a serious crime. If you are resident in a country it is your responsibility to comply with the tax law, just like it's up to you to file as a US citizen.
__________________

__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
nun is offline   Reply With Quote
Old 12-25-2015, 01:22 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,693
Send a message via Skype™ to kcowan
Quote:
Originally Posted by nun View Post
Tax fraud is a serious crime. If you are resident in a country it is your responsibility to comply with the tax law, just like it's up to you to file as a US citizen.
I should mention that this only applies to US citizens. Those of us from other countries are free. We pay taxes where we choose to live.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 12-25-2015, 01:36 PM   #24
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
Quote:
Originally Posted by kcowan View Post
I should mention that this only applies to US citizens. Those of us from other countries are free. We pay taxes where we choose to live.
The US is strange in that is taxes based on income sources, residency and citizenship. Other countries don't tax based in citizenship. However, you can easily have tax liabilities in multiple places depending on your residency and the source of your income.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
nun is offline   Reply With Quote
Old 12-25-2015, 01:57 PM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,693
Send a message via Skype™ to kcowan
Quote:
Originally Posted by nun View Post
The US is strange in that is taxes based on income sources, residency and citizenship. Other countries don't tax based in citizenship. However, you can easily have tax liabilities in multiple places depending on your residency and the source of your income.
Yes but if you avoid having assets in the US, life is much simpler. It is only the US that cares about such things. In 2002, we decided to avoid the US entirely for snowbirding, and we have been proven right in that decision. Even we never imagined how bad it could be!

(And the US does not only tax on citizenship or residency. It taxes on anyone who can be classified as a "US Person" which goes well beyond citizenship or residency! Only country in the world to do it so far. I hope it stays that way!)
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 12-26-2015, 02:11 PM   #26
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
The grasp of the IRS is larger than most tax authorities and I agree that if you are not a US citizen it's best to remove non retirement assets from the US once you become an NRA. How you deal with retirement assets will depend on the relevant tax treaty and the details of the accounts.

Unfortunately the OP is a US/Irish dual citizen and so will have to deal with the two tax systems.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
nun is offline   Reply With Quote
Old 12-26-2015, 04:46 PM   #27
Confused about dryer sheets
 
Join Date: Dec 2015
Location: New York City
Posts: 8
nun,

Yeah, I would need to deal with both authorities. I may need to speak with an expert in Dublin (?). I will check with a relative or two to see what techniques can be used while playing within the rules.

Still open to thoughts.

Thanks.
__________________

__________________
Bedraggled is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Ireland Notmuchlonger Travel Information 11 02-04-2010 05:17 PM
Taxes, Taxes. Taxes mickeyd FIRE and Money 1 02-09-2008 01:18 PM
ER in Rural Ireland? ESRBob Life after FIRE 30 06-01-2005 12:29 PM
Greetings (from Ireland) ER@40 Hi, I am... 14 03-29-2005 08:49 AM

 

 
All times are GMT -6. The time now is 03:37 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.