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Search: Posts Made By: billyeasy
Showing results 1 to 25 of 31
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Forum: USA
May 11th 2024, 7:39 am
Replies: 15
Views: 2,573
Posted By billyeasy

Re: SS implications upon renouncing US citizenship?

I assume the exit tax/world wide assets includes savings on both sides of the pond, and retirement funds like 401k, Roths, and my UK private pension?
Forum: USA
May 10th 2024, 8:30 am
Replies: 15
Views: 2,573
Posted By billyeasy

Re: SS implications upon renouncing US citizenship?

Thanks for the insight into CGT, it is not as bad as I thought it would be. The reason I am thinking about getting US citizenship is if I want to move back to the states down the road. At this...
Forum: USA
May 9th 2024, 5:17 am
Replies: 15
Views: 2,573
Posted By billyeasy

Re: SS implications upon renouncing US citizenship?

Good point.

I am unable to edit my post.

Best I could do was update it by creating a quick reply with my edits.

Fast forward 15 years down the road, I sell a property in the UK that I...
Forum: USA
May 9th 2024, 5:14 am
Replies: 15
Views: 2,573
Posted By billyeasy

Re: SS implications upon renouncing US citizenship?

This is a theoretical/naive question. I want to know what I am getting myself into 10 plus years down the road. Exploring all options.

At present, I'm a green card holder, considering moving back...
Forum: USA
May 8th 2024, 10:24 am
Replies: 15
Views: 2,573
Posted By billyeasy

Re: SS implications upon renouncing US citizenship?

Thank you so much.

The ad and its link are useful. Reading through it, it astonishes me how anyone can accurately keep track of all the stipulations one has to report.
Forum: USA
May 8th 2024, 6:12 am
Replies: 15
Views: 2,573
Posted By billyeasy

SS implications upon renouncing US citizenship?

This is a theoretical/naive question. I want to know what I am getting myself into 10 plus years down the road. Exploring all options.

At present, I'm a green card holder, considering moving back...
Forum: Germany
Mar 29th 2024, 10:24 am
Replies: 8
Views: 2,789
Posted By billyeasy

Re: UK Non-Resident Landlord Scheme, Relocation to Germany and rental taxation

Thank you for this. It definitely is a mind twister when having UK and US citizenship (considering) and living in Germany. It is what I do not know what worries me, and how to keep staying on top of...
Forum: Germany
Mar 13th 2024, 10:01 am
Replies: 8
Views: 2,789
Posted By billyeasy

Re: UK Non-Resident Landlord Scheme, Relocation to Germany and rental taxation

My letting agency did not inform me that I need to complete a yearly UK tax return.

I don’t recall filling out a P85 form when I left the UK; my memory from that era is somewhat hazy.

In...
Forum: Germany
Mar 11th 2024, 5:50 am
Replies: 8
Views: 2,789
Posted By billyeasy

Re: UK Non-Resident Landlord Scheme, Relocation to Germany and rental taxation

Thank you for that. Ermmm, for the past 15 years I never completed a UK tax return, I did not know I had to.
Forum: Germany
Mar 10th 2024, 7:46 pm
Replies: 8
Views: 2,789
Posted By billyeasy

UK Non-Resident Landlord Scheme, Relocation to Germany and rental taxation

I'm a UK citizen living in California, USA, with a rental property in the UK generating around 9600 GBP annually through a letting agent.

Under the Inland Revenue Non-Resident Landlord Scheme, the...
Forum: USA
Mar 8th 2024, 6:36 am
Replies: 13
Views: 1,712
Posted By billyeasy

Re: GC Holder -> Questions on Citizenship, Taxes, and moving to Germany

Thanks, will look into making the voluntary NI contributions, I called the NI office, they referred me to the Inland Revenue, I need to complete CF83 paperwork.
Forum: USA
Feb 29th 2024, 11:01 am
Replies: 13
Views: 1,712
Posted By billyeasy

Re: GC Holder -> Questions on Citizenship, Taxes, and moving to Germany

Another option regarding WEP would be to sell my British private pension prior to retirement ? Or is this naive and would get dinged over here somehow?

I also have a UK state pension, the...
Forum: Moving back or to the UK
Feb 28th 2024, 4:01 am
Replies: 9
Views: 1,540
Posted By billyeasy

Re: Navigating 401k Abroad: Navigating Provider Restrictions and Finding Alterna

Thank you so much. Very useful. Did you have to keep a US bank account to move money from your SS and IRA into before you could transfer it to the UK?
Forum: Moving back or to the UK
Feb 28th 2024, 3:58 am
Replies: 9
Views: 1,540
Posted By billyeasy

Re: Navigating 401k Abroad: Navigating Provider Restrictions and Finding Alterna

It's 2024, and it's insane the hoops one has to go through. The laws and regulations around this need an overhaul; you are right, it's our money, we went through hard labor for it.
Forum: Moving back or to the UK
Feb 28th 2024, 3:55 am
Replies: 9
Views: 1,540
Posted By billyeasy

Re: Navigating 401k Abroad: Navigating Provider Restrictions and Finding Alterna

Sorry for your experience, very frustrating. I am hoping to move all but one of my 401(k)s into my Fidelity Rollover IRA if they will have me and also open an account with Vanguard with a rollover,...
Forum: Moving back or to the UK
Feb 28th 2024, 3:45 am
Replies: 9
Views: 1,540
Posted By billyeasy

Re: Navigating 401k Abroad: Navigating Provider Restrictions and Finding Alterna

Thank you, everyone. I can't tell you how much future stress your responses have saved me. It's insane. I have reached out to Fidelity, with whom I have an IRA, to see if they will "support" me when...
Forum: USA
Feb 23rd 2024, 7:33 am
Replies: 13
Views: 1,712
Posted By billyeasy

Re: GC Holder -> Questions on Citizenship, Taxes, and moving to Germany

Thank you for the link. I'm grateful for this site and members like you; otherwise, I would not know anything about this and would run into unforeseeable financial costs I hadn't budgeted for. I also...
Forum: Moving back or to the UK
Feb 23rd 2024, 7:06 am
Replies: 9
Views: 1,540
Posted By billyeasy

Navigating 401k Abroad: Navigating Provider Restrictions and Finding Alternative

I spoke with one of my 401k providers (Merrill Lynch), and they informed me that if I move out of the USA, they do not support individuals living abroad. They stated that my funds would have to be...
Forum: USA
Feb 23rd 2024, 6:53 am
Replies: 13
Views: 1,712
Posted By billyeasy

Re: GC Holder -> Questions on Citizenship, Taxes, and moving to Germany

Thank you all. I had no idea about the WEP. Can I ask a related question? If I am no longer a green card holder or never become a US citizen, thus no longer residing in the USA, would the WEP still...
Forum: USA
Feb 21st 2024, 5:42 am
Replies: 13
Views: 1,712
Posted By billyeasy

GC Holder -> Questions on Citizenship, Taxes, and moving abroad.

I have created a few posts to help me explore my best options. am thinking of pivoting from a green card to applying for US citizenship, then moving to work in Germany, followed by a few years in the...
Forum: USA
Feb 16th 2024, 10:15 am
Replies: 18
Views: 4,316
Posted By billyeasy

Re: Rescinding my green card, exit tax?

Thanks, I did not consider this option. I will look into the cons of having a US passport from a taxation point of view. My guess is that it will have no major impact except having to file every year...
Forum: USA
Jan 8th 2024, 2:43 pm
Replies: 5
Views: 1,084
Posted By billyeasy

Re: Inheriting Property Abroad - Tax implications

Wow, thank you again. This information is incredibly useful in helping me make the right decisions for the next 10-15 years of my life.
Forum: USA
Jan 8th 2024, 10:39 am
Replies: 5
Views: 1,084
Posted By billyeasy

Re: Inheriting Property Abroad - Tax implications

Thank you so much for the information. Assuming I moved back to the UK, if I sold the house, do you know if I would have to pay capital gains tax in both the UK and the US?
Showing results 1 to 25 of 31
 
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