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Old 07-02-2007, 07:33 AM   #21
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Quote:
Originally Posted by teejayevans View Post
Why not go to a state with no income tax and go to Mailbox Etc, and get a
po box, I believe they will also forward to your international address.
TJ
while studying liveaboard life, a forum member who was supposedly a lawyer posted that your last state of residency can claim you until you establish residency in another state, regardless of where you set up a post office box. or at least that was my understanding of what that person said.

so that i could leave florida and become a vagabond and claim florida as my state of residency as long as i don't establish residency in any other state during that time.

when i google "establishing residency" i get mostly college info dealing with in/out of state tuition and refers to items such as where you are registered to vote & from where your driver's license has been issued.

here's an case study i just found of someone moving to mexico and trying to show non-residency in his previous home state of california by skipping first through reno.

Distributions from Non-Qualified Benefit Plans; Rules for determining Califonria residency for tax and* pension plan purposes

Quote:
A taxpayer may have only one domicile at any one time and that domicile continues until it is shown to have changed. A taxpayer's domicile is the taxpayer's true, fixed, and permanent place of abode. The concept of domicile requires both physical presence and intention to make a place one's home.
Although numerous factors are evaluated in determining residency, the most important ones include physical presence in California, location of employment, business interests, bank accounts and other investments, ownership of real estate, location of family, and children attending California schools.
An individual is a resident of the state in which he has the closest connections during the tax year. A taxpayer is ordinarily found to be a resident of the state or country with which the taxpayer has the closest connections, determined by comparing contacts retained within and outside California. Thus, the more complete the severance of California ties, the more likely a finding of nonresidency.
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Old 07-02-2007, 08:36 AM   #22
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Originally Posted by FinanceGeek View Post
Of course, if it really comes down to it, you can of course appoint someone with a US IP connection to manage your finances (with you on a nearly free VoIP connection such as Skype giving them trading instructions) via a simple "limited power of attorney".

A biologically based proxy server, I may just have file a patent disclosure on this one :-)
VPN or using terminal services to bounce is a bit more practical But hey, whatever works!
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Old 07-02-2007, 10:27 AM   #23
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I think people are making this too complicated.

1) Fido mails my wife's statements for her US 403b directly to Canada, and has no problem with it.

2) Both Fido and Wells Fargo have indicated to me that there is no problem provided you open the account BEFORE assuming Canadian residency

3) the "nasty" US treasury form is really no big deal--unless you don't file it.

4) yes, your income taxes are more complicated.

all the other speculation about IP blocking, etc. etc. etc.--is precisely that--speculation.

Bottom line--it's a little more hassle and you need to get set up before you move. Find a broker that will cooperate. They are out there.
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Old 07-02-2007, 11:32 AM   #24
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Quote:
Originally Posted by lazygood4nothinbum View Post
while studying liveaboard life, a forum member who was supposedly a lawyer posted that your last state of residency can claim you until you establish residency in another state, regardless of where you set up a post office box. or at least that was my understanding of what that person said.

so that i could leave florida and become a vagabond and claim florida as my state of residency as long as i don't establish residency in any other state during that time.

when i google "establishing residency" i get mostly college info dealing with in/out of state tuition and refers to items such as where you are registered to vote & from where your driver's license has been issued.

here's an case study i just found of someone moving to mexico and trying to show non-residency in his previous home state of california by skipping first through reno.

Distributions from Non-Qualified Benefit Plans; Rules for determining Califonria residency for tax and* pension plan purposes
The only states where there might be an issue if you leave the US with them still wanting tax from you are the states who tax based on your domicile as well as residency.

I intend to move to the UK to retire and as a US/UK dual citizen I'm fair game for both countries wrt taxation. I plan to leave most of my investments
in the US becasue as a US citizen it's bad from a tax point to invest in overseas funds, and the tax deferred stuff is impossible to transfer without early withdrawal penalties and tax anyway. I'll probably keep my cash bucket in the UK in their equivalent of a
MM and CD. I'll also have a MM in the US to dump dividends and proceeds from fund sales into before transfering them to the UK. I can do almost all of my account maintainence online and the rest over the phone. My broker said there's no problem in having a foreign address on the account and
sending statements there as long as I'm a US citizen.

Tax time will be the most interesting as I'll have to take credit in the UK for the tax I pay in the US and vice versa. Hence my desire to get as much into my ROTH account as possible as withdrawals are also tax free in the UK
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Old 07-02-2007, 12:57 PM   #25
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Originally Posted by NinjaPigeon View Post
VPN or using terminal services to bounce is a bit more practical But hey, whatever works!
Indeed, it strikes me that all one needs is RealVNC and a PC back home at Mom and Dad's house, and presto, one has bypassed the so-called "Thailand filter". VPN would for more financial oriented types like myself fall into the 'extra credit' category since it probably would take at least 10 minutes to figure out all the *&^*&^&*^ options without a handy dandy IT help desk to assist.

As I said before my reading has led me to believe that entire governments have failed to do this type of filtering very well.
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Old 07-02-2007, 01:10 PM   #26
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For my HSA, I had to prove (by sending them a copy of my utility bill)
has I was indeed a resident in the USA. Its part of the nazi patriot
act , apparently terrorists have health benefits and HSA plans.
Once I proven, I think I'm golden.
TJ
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Old 07-02-2007, 01:30 PM   #27
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Originally Posted by bosco View Post
I think people are making this too complicated.

1) Fido mails my wife's statements for her US 403b directly to Canada, and has no problem with it.

2) Both Fido and Wells Fargo have indicated to me that there is no problem provided you open the account BEFORE assuming Canadian residency

3) the "nasty" US treasury form is really no big deal--unless you don't file it.

4) yes, your income taxes are more complicated.

all the other speculation about IP blocking, etc. etc. etc.--is precisely that--speculation.

Bottom line--it's a little more hassle and you need to get set up before you move. Find a broker that will cooperate. They are out there.
This is 100% correct.
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