Thanks Am. How’re you doing?
I'm pretty good. Limping my way through the end of grad school. Finding it difficult to plot my next steps because of how politically fraught I expect the future to be here in the states. Nice to have the option of working overseas, but I'd still be paying taxes back to the US unless I renounce citizenship, so maybe there's not too much of a point in leaving. And I'm not in a demographic targeted for oppression, so maybe it's my duty to stay here and fight the good fight. I'm considering ramping up a humorous anti-fascism influence campaign on YouTube. At least the audio will have some production value (robot/alien lyrics in the description). What kinds of hobbies are you up to?
You say, “There’s not too much of a point in leaving” if you have to still pay US taxes.” I thought the point was to get away from the political fraughtness, by which I imagine you mean the threats to democracy. Yes, yes, stay and fight: but it is depressing. As for hobbies, there is not yet a coherence to my life. David is doing anti-fascism work all the time working on US and local Canadian elections. I just got TheTalk to get involved. I know I should. Sigh
"TheTalk" got a good chuckle from me. Hang in there, I know the feeling. I've got some family up there, so maybe sometime we can grab a coffee if I'm ever around. Or maybe sometime we can liberate Key West from the fascist DeSantis. It's whatever. Take it easy, lil :).
am_Unition US citizens living abroad are obliged TO REPORT their income to the IRS. If they pay taxes in their country of residence, greater than they would owe to the US, then they pay NOTHING to the US. David has been an American in Canada for 27 years and has never paid the US a penny. This is an issue that Democrats Abroad has worked on and there’s a good chance that they will get it changed to residence-based taxation instead of citizen-based. Still, better to stay and fight.
Most people won't have sufficient income to be double taxed but it is a concern. From the IRS "If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude your foreign earnings from income up to an amount that is adjusted annually for inflation ($105,900 for 2019, $107,600 for 2020, $108,700 for 2021, and $112,000 for 2022). In addition, you can exclude or deduct certain foreign housing amounts" -- https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion In addition, while I don't know about Canadian banks, European banks don't like dealing with Americans due to reporting requirements set by the US government, so it can get real difficult to live abroad as a US citizen. It becomes a messy maze of regulation real fast.
Thanks for this, c_hawk! I'm super guilty of outsourcing research, both professionally and in my personal/hubski life. :/