Is there a tax benefit?
Mar 13th 2008, 1:40 pm
#1
Thread Starter
Joined: May 2005
Posts: 5,763
Is there a tax benefit?
For being out of the US for the last 2 1/2 months of the year? I know they pay you to stay away for 6 months or more, but not sure about shorter periods. Reason being, if there's not, I honestly don't really want to tell the IRS. They don't need to know where we live now. So hubby asserts anyway. 
Ta.
Ta.
Mar 13th 2008, 2:00 pm
#2
Lost in BE Cyberspace
Joined: Jul 2007
Location: Cincinnati, Ohio
Posts: 8,497
Re: Is there a tax benefit?
For being out of the US for the last 2 1/2 months of the year? I know they pay you to stay away for 6 months or more, but not sure about shorter periods. Reason being, if there's not, I honestly don't really want to tell the IRS. They don't need to know where we live now. So hubby asserts anyway.
Ta.
Ta.
Mar 14th 2008, 2:15 am
#4
Pleasant Pheasant Plucker
Joined: Feb 2008
Location: Palm Bay
Posts: 249
Re: Is there a tax benefit?
For being out of the US for the last 2 1/2 months of the year? I know they pay you to stay away for 6 months or more, but not sure about shorter periods. Reason being, if there's not, I honestly don't really want to tell the IRS. They don't need to know where we live now. So hubby asserts anyway.
Ta.
Ta.
Mar 14th 2008, 4:53 am
#5
MODERATOR
Joined: Nov 2006
Location: Hong Kong, mostly.
Posts: 5,214
Re: Is there a tax benefit?
No...but there is eventually an $80,000 expat write off, along with a write off for housing allowances, but they only come into being after being out of the country for 12 months.
As a US citizen, you are required to file taxes no matter where you live pretty much until you die. Even if you have no income most professionals would recommend you do file anyway (rather than have to prove it later on should something come up). If you renounce citizenship, well, guess what--they still want tax forms to prove you are not just a tax dodger (eventually it ends).
There is a good forum on the UK Yankee site about taxes.
http://talk.uk-yankee.com/index.php?board=11.0
As a US citizen, you are required to file taxes no matter where you live pretty much until you die. Even if you have no income most professionals would recommend you do file anyway (rather than have to prove it later on should something come up). If you renounce citizenship, well, guess what--they still want tax forms to prove you are not just a tax dodger (eventually it ends).
There is a good forum on the UK Yankee site about taxes.
http://talk.uk-yankee.com/index.php?board=11.0
Last edited by penguinsix; Mar 14th 2008 at 4:55 am.
