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Dec 2nd 2020, 1:47 am
Replies: 4
Views: 785
Posted By Streetlegal

Re: Taking out US citizenship

Thank you, all!
Ed
Dec 1st 2020, 4:07 am
Replies: 4
Views: 785
Posted By Streetlegal

Taking out US citizenship

Hi all,

I have held a green card for about 7 years and would like to take out US citizenship--I want to have dual citizenship. I've decided that even if I move back to the UK, it makes sense to...
Oct 15th 2020, 5:41 am
Replies: 39
Views: 2,306
Posted By Streetlegal

Re: Keep USA Health Insurance?

On the surface, that seems quite a lot of money for not very much return. From what I've heard about taking out private insurance in the UK, it doesn't seem to yield that much of an...
Sep 30th 2020, 6:45 pm
Replies: 10
Views: 1,719
Posted By Streetlegal

Re: UK Accountant that has USA tax treaty and can complete IRS returns

Just had an exploratory phone conversation with Harding Bell based in Florida, and glad to say their ball park figure is a fraction of that of the UK company cited above.
Sep 30th 2020, 5:06 pm
Replies: 10
Views: 1,719
Posted By Streetlegal

Re: UK Accountant that has USA tax treaty and can complete IRS returns

Does anyone have more information on this? The figure quoted above has come as quite a shock for me--that would be a substantial part of my pension and there is no way I could afford to pay something...
Sep 30th 2020, 1:39 am
Replies: 10
Views: 1,719
Posted By Streetlegal

Re: UK Accountant that has USA tax treaty and can complete IRS returns

I pay $100 to get my US tax filed. I didn't expect to 3000 quid per annum in the UK. That would be out of the question. Surely the quoted price above is not the norm??
Sep 14th 2020, 5:08 am
Replies: 9
Views: 656
Posted By Streetlegal

Re: WEP Guarantee

BTW, thanks to this forum, I set up a Roth IRA earlier this week. It was very easy. I'll monitor how it does and then put the full year's allowance in (7k for me). I went for a slightly riskier...
Sep 13th 2020, 11:25 pm
Replies: 9
Views: 656
Posted By Streetlegal

Re: WEP Guarantee

Thanks DurhamLad
Ed
Sep 13th 2020, 6:58 am
Replies: 9
Views: 656
Posted By Streetlegal

WEP Guarantee

Hi all,

Could someone "translate" the 50% rule for me as regards the impact of WEP on social security:

"The WEP includes a guarantee that the reduction in the benefit amount caused by the WEP...
Sep 13th 2020, 4:44 am
Replies: 49
Views: 4,291
Posted By Streetlegal

Re: USA to UK transfer Social Security to NI contributions

Is social security taxable?

I thought I read on this forum that it was not taxable in the USA. However, online I have read that it is taxable if your combined income is more than $25k. If my...
Sep 7th 2020, 8:41 pm
Replies: 49
Views: 4,291
Posted By Streetlegal

Re: USA to UK transfer Social Security to NI contributions

I just found this link, which is quite helpful:

https://www.taylortaylorusa.com/blog-01/social-security-windfall-elimination-provision-wepA Guarantee

Something very important to note is that...
Sep 7th 2020, 8:27 pm
Replies: 49
Views: 4,291
Posted By Streetlegal

Re: USA to UK transfer Social Security to NI contributions

This is a helpful but rather intimidating thread!
I plan on taking my SS when I'm 62. I have paid in voluntary years to my NI but not for a long time--once it is safe to travel back to the UK...
Aug 23rd 2020, 7:50 pm
Replies: 19
Views: 3,099
Posted By Streetlegal

Re: Is anyone else struggling with the three-year requirement once back?

OK. Thanks. It might actually apply to teaching, as I had checks done in the past (something like the CRB?). But three years seems VERY excessive.
Aug 23rd 2020, 7:45 pm
Replies: 19
Views: 3,099
Posted By Streetlegal

Re: Is anyone else struggling with the three-year requirement once back?

Sorry to butt in, but I've never heard of this three year residency rule. Would it impact me if I returned and wanted to go into part-time teaching, for example?
Cheers
Ed
Aug 22nd 2020, 8:12 pm
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

:thumb: :drinkingbeer:
Aug 22nd 2020, 8:00 pm
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

That's super helpful, and good news, durhamlad.

So is it safe to conclude that any income deemed untaxable (eg my USA state pension in the UK, Roth withdrawals in UK) are not included in that...
Aug 22nd 2020, 12:39 am
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

Thanks, durhamlad.

To make sure I understand this correctly, say that for a time my sole earnings will be US pension (15 K pounds) and SS (10 K pounds). Only the SS is subject to British tax. In...
Aug 20th 2020, 5:25 am
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

This forum has been invaluable in giving me the context I need over the next year or three to sort out my retirement. I am truly grateful. I’m heading for a point where I’ve got sufficient context...
Aug 18th 2020, 7:01 pm
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

Durhamlad:

Interestingly, I used the official SS calculator you linked to the other day, and, although I will need to revisit it more carefully, the estimate was actually not that different than...
Aug 18th 2020, 6:06 am
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

The link was useful, and this whole thread has been very useful--I've copied and pasted it and made notes.

I have a clarification question.

My SS payments will be taxed by HMRC. If,...
Aug 17th 2020, 9:33 pm
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

I can't find anywhere on my SS site to make my own calculations based on retiring early, but I'll see if I can use the link you supplied, thanks.
Aug 17th 2020, 5:15 am
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

This is what it says:If You Stop Work Before You Start Receiving BenefitsIf you stop work before you start receiving benefits and you have less than 35 years of earnings, your benefit amount is...
Aug 16th 2020, 10:56 pm
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

durhamlad:

I had assumed that the increase in SS between 62 and 67 was purely to do with extra years in employment during the interim 5 years and therefore x number of extra years of SS...
Aug 16th 2020, 9:00 pm
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

My SS totals 14 years right now.

I presume the amount I would take at age 62 would be the same as if I took it at 67 (bar any inflationary-related rises)?

However, if I waited until I were 70,...
Aug 16th 2020, 7:33 pm
Replies: 56
Views: 6,906
Posted By Streetlegal

Re: Lowdown on Tax Issues

@ durhamlad:

I know that delaying SS can make a big difference to payments when you are still employed, but does it make much difference if you are no actually longer working in the US?
Showing results 1 to 25 of 62
 


 
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