Best place to live in world to play Internet Poker (Taxes/Cost of Liv)

[DarthIgnurnt]

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Nobody's mentioned Australia yet? No tax on gambling winnings, similar standard of living to the US, better healthcare, cost of living 40% of the UK, excellent weather, low crime rate...

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Pass the sugah!

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FYP.

[4thstreetpete]

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Nobody's mentioned Australia yet? No tax on gambling winnings, similar standard of living to the US, better healthcare, cost of living 40% of the UK, excellent weather, low crime rate...

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hmmm, haven't thought about Austrailia before. I was talking to someone who came from Austrailia before and he told me it was very similar to Toronto (standard of living wise) where I live. Are you sure about the no taxes on gambling income?

As to the OP, Cayman island is absolutely beautiful but 50K a year won't probably get you too far. Things are very expensive there because it's an island so everything has to be imported. Probably one of the most beautiful places in the world but you'd get tired of living there soon though.

[aucu]

Everyone goes nuts on Grand Cayman if you spend enough time there.

If you are a US citizen you pay US taxes where ever you are unless you are exempt as per the tax treaty between the country the country you take up residence in and the US.

[TheMetetron]

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If you are a US citizen you pay US taxes where ever you are unless you are exempt as per the tax treaty between the country the country you take up residence in and the US.

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Wait, what?

There are countries that have tax treaties with the US?

Names please.

[MicroBob]

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Nobody's mentioned Australia yet? No tax on gambling winnings,

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IF YOU ARE A U.S. CITIZEN THEN YOU STILL OWE U.S. TAXES !!!!


I think we need to add this to the FAQ's or something.
It's getting pretty annoying.

[ColdCaller]

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If you are a US citizen you pay US taxes where ever you are unless you are exempt as per the tax treaty between the country the country you take up residence in and the US.

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Wait, what?

There are countries that have tax treaties with the US?

Names please.

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Uh, most first-world countries have tax treaties with the United States if you remain a citizen, IIRC.

You need to expatriate and attain citizenship elsewhere to avoid taxes.

[jetsg4]

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You can not avoid paying the US income tax simply by moving out of the country. Enjoy!

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Yes, u can. Enjoy.

[AncientPC]

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Nobody's mentioned Australia yet? No tax on gambling winnings,

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IF YOU ARE A U.S. CITIZEN THEN YOU STILL OWE U.S. TAXES !!!!


I think we need to add this to the FAQ's or something.
It's getting pretty annoying.

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Yeah I know, you can't simply avoid taxes by working in a different country. If you work for a country overseas they have it set up somehow so you don't pay double taxes.

I just suggested Asia because it's ridiculously cheap to live there with pretty good broadband access.

[bigalt]

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If you work for a country overseas they have it set up somehow so you don't pay double taxes.


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basically any taxes you pay in a foreign country counts as a deduction from what you owe in the US, dollar for dollar I believe.

[jetsg4]

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Nobody's mentioned Australia yet? No tax on gambling winnings,

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IF YOU ARE A U.S. CITIZEN THEN YOU STILL OWE U.S. TAXES !!!!


I think we need to add this to the FAQ's or something.
It's getting pretty annoying.

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Do you just state these things off the top of your head??Lets add some made up information to a FAQ.. great idea. DEAD WRONG. Here's where you can start... IRS

constuction workers take advantage of non-us earned income each year. If you live abroad a qualifying length, all the income u earn abroad is NON-US TAXABLE. I believe military enjoy this tax code also, not sure on them though.