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Janet and John - Tax Free Earnings Pro's & Cons

Janet and John - Tax Free Earnings Pro's & Cons

Old Aug 2nd 2008, 9:28 am
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Default Janet and John - Tax Free Earnings Pro's & Cons

Hi

Does anyone know of a website or other guide explaining in laymans terms the ins and outs of Tax Free Earnings for UK or USA citizens?

Thanks in advance
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Old Aug 2nd 2008, 9:35 am
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Originally Posted by azulniew View Post
Hi

Does anyone know of a website or other guide explaining in laymans terms the ins and outs of Tax Free Earnings for UK or USA citizens?
Are there any 'outs'

You get to keep whatever you earn.....simple
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Old Aug 2nd 2008, 9:36 am
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Originally Posted by ssuh View Post
Are there any 'outs'

You get to keep whatever you earn.....simple

Should have said I'm from UK...believe its different for US citizens...
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Old Aug 2nd 2008, 9:41 am
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Originally Posted by ssuh View Post
Are there any 'outs'

You get to keep whatever you earn.....simple
Don't forget that there are rules about how long you need to be out of the UK in order to be considered non-resident for tax purposes. If you return to live there too soon, you'll be liable for tax on your overseas earnings.

Of course, if you're never going back there to live, you can forget about all that stuff.
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Old Aug 2nd 2008, 10:27 am
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

....and I look forward to someone explaining for my simple brain what "Janet and John" have got to do with this......
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Old Aug 2nd 2008, 10:34 am
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Originally Posted by azulniew View Post
Hi

Does anyone know of a website or other guide explaining in laymans terms the ins and outs of Tax Free Earnings for UK or USA citizens?

Thanks in advance
Hi,

If you're a Duo National (UK/USA), or have obtained the full US nationality, you are still taxable on so called Middle East tax free income(s) in the USA. If I'm not mistaken, the IRS has a booklet on how to guide you through the proper steps, fairly strait to the point. If you're currently living in the UK and can prove that you're paying more on taxes in the UK, you can obtain a 0% tax status in the USA. If such is the case, I would advise contacting the USA embassy in London. It took me about one month to obtain the paperwork and 0% status via the US embassy in Amsterdam, Holland years ago. Once you received 0% tax status and then move to the ME, your income falls under the UK rules and regulations. What they are? Don't have the foggiest idea as I'm not a UK national. Sorry...
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Old Aug 2nd 2008, 12:05 pm
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Janet and John is a primary school reading book series. We sometimes use it as a euphemism for when we want someone to give a simple and understandable explanation of something that tends to get too technical if left to the techies.
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Old Aug 2nd 2008, 12:11 pm
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Originally Posted by azulniew View Post
Janet and John is a primary school reading book series. We sometimes use it as a euphemism for when we want someone to give a simple and understandable explanation of something that tends to get too technical if left to the techies.
So..... since I didn't even understand THAT..........

I'll get me coat...........
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Old Aug 2nd 2008, 1:15 pm
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Originally Posted by azulniew View Post
Janet and John is a primary school reading book series. We sometimes use it as a euphemism for when we want someone to give a simple and understandable explanation of something that tends to get too technical if left to the techies.
Jeez..that brought back memories. I learned to read with "Janet and John".

In the UK in the early 60s it was Janet and John books. In the 70s they were phased out as being hopelessly sexist and non politically correct (e.g, John doing things like flying his kite and taking the dog for a walk while Janet swept the floor and washed up). They were still used in Scotland in up to the mid-70s. I think "Peter and Jane" in the LadyBird series took over in the mid-70s...other minor ones were "Dick and Dora" and their dog (Nip) and cat (Fluff), and the "Village with Three Corners"
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Old Aug 2nd 2008, 8:57 pm
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Default Re: Janet and John - Tax Free Earnings Pro's & Cons

Originally Posted by ssuh View Post
Should have said I'm from UK...believe its different for US citizens...
Very.

Under the dual tax treaty, you won't be double taxed on income under $85.7K Still have to file to the IRS though.
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