|
|
05-17-2012, 01:14 PM
|
#81
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,707
|
Quote:
Originally Posted by NYEXPAT
People who evade taxes usually do so because it is "ill gotten gains". People who avoid taxes do so because they can! Then you have the group that wants to pay more. So I guess you have "Tax Evaders/Tax Avoiders & Tax Lovers" and obviously the "Muppets"!
|
"Ill gotten gains" and " not paying tax because they can" are both equally unlawful and criminal. You forgot to mention the "honest people that comply with the law and pay their taxes".
|
|
|
|
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!
|
05-17-2012, 02:01 PM
|
#82
|
Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 4,872
|
Quote:
Originally Posted by explanade
Use the double taxation relief for Italian taxes or US taxes?
If your accounts are still in US institutions, you have to pay IRS.
For Italy you have to show them you've paid US taxes and pay the difference? I thought tax evasion was one of the problems they were having.
|
For retirement accounts like IRAs and 401ks the US imposes a withholding tax on any overseas payments. You can take that as a FTC on you foreign taxes and pay the difference to your country of residence. Then you take the tax you paid overseas as a FTC on your US taxes. The end result is you pay the greater of the tax rates and the relative amounts you pay in each country depends on the US withholding and your relative tax rates.
There are separate treaty articles for Interest, Dividends and capital gains, that impose max tax rates on cross-border payments, but they are pretty much moot for US citizens because of the Treaty Saving Clause.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”
Current AA: 75% Equity Funds / 15% Bonds / 5% Stable Value /2% Cash / 3% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
|
|
|
05-17-2012, 03:18 PM
|
#83
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,436
|
Hmm, so for the ability to stay as long as you want, you get to pay additional taxes, while not getting benefits such as being in their health care system.
Might as well just do the Schengen thing and stay up to 90 days at a time.
|
|
|
05-17-2012, 03:49 PM
|
#84
|
Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 4,872
|
Quote:
Originally Posted by explanade
Hmm, so for the ability to stay as long as you want, you get to pay additional taxes, while not getting benefits such as being in their health care system.
Might as well just do the Schengen thing and stay up to 90 days at a time.
|
I don't know much about the Italian health system, but for the UK if you are resident you qualify for the NHS and the total tax you pay will be the higher of the tax due in the US and the UK. So there is no additional tax burden. My initial estimates show that I will be taxed slightly less in the UK than in the US because of the UK's higher exemptions on certain types of income and gains and that the UK has no state tax. So I'll end up paing the same tax as I would if I lived in the US, but the cost of living where I plan to move in the UK is considerably less than where I live in the US.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”
Current AA: 75% Equity Funds / 15% Bonds / 5% Stable Value /2% Cash / 3% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
|
|
|
05-17-2012, 11:21 PM
|
#85
|
Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Miraflores,Peru
Posts: 1,992
|
Quote:
Originally Posted by MichaelB
"Ill gotten gains" and " not paying tax because they can" are both equally unlawful and criminal. You forgot to mention the "honest people that comply with the law and pay their taxes".
|
Michael, you are misconstruing my words! I highlighted the word AVOID. In the USA I used to live in TAX AVOIDANCE was clearly legal and elevated to an art form! I also had included a 4th catchall category. I do not mind Mod criticism, but please be accurate!
|
|
|
05-18-2012, 05:16 AM
|
#86
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,707
|
Quote:
Originally Posted by NYEXPAT
Michael, you are misconstruing my words! I highlighted the word AVOID. In the USA I used to live in TAX AVOIDANCE was clearly legal and elevated to an art form! I also had included a 4th catchall category. I do not mind Mod criticism, but please be accurate!
|
So sorry. This thread is about living abroad, I had no idea you were referring to the US, where avoidance and minimization often mean the same. Avoidance for overseas taxpayers has other implications which are not always so clear, or lawful. As for your catchall, tax lovers? Honest taxpayers do not love taxes, they pay the because it's the right thing to do. And if you were including us as Muppets, well, I will admit that part I did misunderstand.
|
|
|
05-18-2012, 07:13 AM
|
#87
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
|
Returning to the original issue, I have learned over the past year that certain things are very important to DW:
1) Reliable internet.
2) Reliable domestic water supply.
3) Reliable electricity.
4) Reliable natural gas for heat in the winter and hot water all year.
Combine that with
a) the increasing cost of living outside the US, including
b) more and more restrictions on health insurance as we get older, and
c) more realistic information on safety out there,
it appears that Plan B is getting less attractive.
And less necessary (always good).
Time will tell.
__________________
I have outlived most of the people I don't like and I am working on the rest.
|
|
|
05-18-2012, 07:43 AM
|
#88
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,707
|
Quote:
Originally Posted by Ed_The_Gypsy
Returning to the original issue, I have learned over the past year that certain things are very important to DW:
1) Reliable internet.
2) Reliable domestic water supply.
3) Reliable electricity.
4) Reliable natural gas for heat in the winter and hot water all year.
|
That is a list that brings back fond memories. Add regular supply of fresh food. I was thinking telephone service, but cell phones have really changed that. Beer also, but hard as I try, I can recall regular shortages in all of the things you listed, but never beer. There's a lesson here somewhere...
Quote:
Originally Posted by Ed_The_Gypsy
Combine that with
a) the increasing cost of living outside the US, including
b) more and more restrictions on health insurance as we get older, and
c) more realistic information on safety out there,
it appears that Plan B is getting less attractive.
And less necessary (always good).
Time will tell.
|
Maybe plan B was never as good it seemed. Its always best to keep your options open...
|
|
|
05-18-2012, 07:52 AM
|
#89
|
Thinks s/he gets paid by the post
Join Date: Nov 2007
Location: GTA
Posts: 1,728
|
Quote:
Originally Posted by Ed_The_Gypsy
Returning to the original issue, I have learned over the past year that certain things are very important to DW:
1) Reliable internet.
2) Reliable domestic water supply.
3) Reliable electricity.
4) Reliable natural gas for heat in the winter and hot water all year.
Combine that with
a) the increasing cost of living outside the US, including
b) more and more restrictions on health insurance as we get older, and
c) more realistic information on safety out there,
it appears that Plan B is getting less attractive.
And less necessary (always good).
Time will tell.
|
From our travels overseas, I can say that my DW would add that a Western Style toilet is essential too... She's not a big fan of squat toilets..
|
|
|
05-18-2012, 08:40 AM
|
#90
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
|
Quote:
Originally Posted by Ed_The_Gypsy
Returning to the original issue, I have learned over the past year that certain things are very important to DW:
1) Reliable internet.
2) Reliable domestic water supply.
3) Reliable electricity.
4) Reliable natural gas for heat in the winter and hot water all year.
|
I would second all of the above, and add
5) city sewage service
6) reliable trash pick-up
YMMV. F. wouldn't mind living in the country with a septic system but, well, I am more picky and such a pampered city girl....
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
05-18-2012, 09:20 AM
|
#91
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
|
Quote:
Originally Posted by W2R
I would second all of the above, and add
5) city sewage service
6) reliable trash pick-up
YMMV. F. wouldn't mind living in the country with a septic system but, well, I am more picky and such a pampered city girl....
|
Unless the soil is perfect, septic systems stink! (Literally sometimes, and figuratively always.)
I think added to Ed's list should also be public transit, at least for anyone past 55 or so who is making a move. Even if you rarely use it, it is there for you when or if needed. A number of things cansideline a person if s/he is dependent on driving to do the basics of life.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
|
|
|
05-18-2012, 10:11 AM
|
#92
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
|
Quote:
Maybe plan B was never as good it seemed. Its always best to keep your options open...
|
You speak sooth. Still, gotta have one.
__________________
I have outlived most of the people I don't like and I am working on the rest.
|
|
|
05-18-2012, 10:15 AM
|
#93
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
|
Quote:
From our travels overseas, I can say that my DW would add that a Western Style toilet is essential too... She's not a big fan of squat toilets..
|
OHyeah. Actually, that is my basic requirement, even if it is an outhouse, if I have nothing else.
__________________
I have outlived most of the people I don't like and I am working on the rest.
|
|
|
05-18-2012, 10:22 AM
|
#94
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
|
Guys, my Plan B is for survival in case of dire straights. We can live in the woods, but it has to be safe and we have to have solid health care available. I am working on keeping us alive (no, I am not a survivalist). She has these additional requirements, though. We will muddle through.
__________________
I have outlived most of the people I don't like and I am working on the rest.
|
|
|
05-18-2012, 05:31 PM
|
#95
|
Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Miraflores,Peru
Posts: 1,992
|
Quote:
Originally Posted by haha
Unless the soil is perfect, septic systems stink! (Literally sometimes, and figuratively always.)
I think added to Ed's list should also be public transit, at least for anyone past 55 or so who is making a move. Even if you rarely use it, it is there for you when or if needed. A number of things cansideline a person if s/he is dependent on driving to do the basics of life.
Ha
|
I second public transit!
|
|
|
05-19-2012, 09:44 AM
|
#96
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,677
|
I would hate to see the size of baggies that those drivers carry!
__________________
For the fun of it...Keith
|
|
|
05-20-2012, 06:15 AM
|
#97
|
Recycles dryer sheets
Join Date: Mar 2011
Posts: 225
|
Quote:
Originally Posted by Koogie
From our travels overseas, I can say that my DW would add that a Western Style toilet is essential too... She's not a big fan of squat toilets..
|
Hey, nothing is wrong with the squat toilet. It will make your legs and back strong. It's probably even more effective than some fitness equipments sold on TV.
|
|
|
05-20-2012, 09:44 AM
|
#98
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
|
Sorry, ratto. Not on the program.
Now I learn that she is not happy with noisy neighbors.
The 3rd world looks further and further away.
Or is that farther and farther.
__________________
I have outlived most of the people I don't like and I am working on the rest.
|
|
|
05-20-2012, 11:21 PM
|
#99
|
Full time employment: Posting here.
Join Date: Jun 2008
Location: Caldas da Rainha, Portugal
Posts: 583
|
Quote:
Originally Posted by Ed_The_Gypsy
Returning to the original issue, I have learned over the past year that certain things are very important to DW:
|
Everybody has their own list, I found mine changed after living in Thailand for 2 years and the Phils for 1.5:
Some cultural features are tolerable, but I'd never settle in a place unless the following were far enough from my residence that if I noticed them, it would be barely. From what I've seen of Thailand, that means living in a walled expat community.
- The concept of 'too loud' doesn't exist.
- Packs of street dogs.
- Daily trash burning.
- Land use zoning.
Other criteria:
- High standard of medical facilities within an hour travel time.
- Airport within 4 hours travel. I expect that time will shrink if my health declines.
- An active local expat forum so I can ask 'where can I buy X' type questions.
- A visa with permission to stay in chunks no shorter than a year, where the continuation of this privilege is routine for those who have kept their nose out of trouble.
- A noticeable population of European or American expats.
- In or within an hour of a regional travel hub, be it air, rail, ferry or bus, or on a mainline between hubs.
I don't use squat toilets but do squat to do my hand laundry and dishes in tubs on the balcony (I don't have a kitchen). I think the squatting helps my back.
__________________
ER Oct 2008 at age 54. An expat enjoying a mild 4 season climate after 11 years in the tropics.
|
|
|
05-21-2012, 04:06 AM
|
#100
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,707
|
Quote:
Originally Posted by Ed_The_Gypsy
Sorry, ratto. Not on the program.
Now I learn that she is not happy with noisy neighbors.
The 3rd world looks further and further away.
Or is that farther and farther.
|
Ed, noisy neighbors are a problem everywhere. Where are you going to go?
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|