Two Plus Two Newer Archives  

Go Back   Two Plus Two Newer Archives > General Poker Discussion > Poker Legislation

Reply
 
Thread Tools Display Modes
  #1  
Old 11-06-2007, 06:43 AM
riverspecialist riverspecialist is offline
Senior Member
 
Join Date: Sep 2005
Posts: 423
Default im fed up with taxes

but i want to be legit.

i might want to get the ball rolling on renouncing my (US)citizenship. Any advice? anyone do it yet? Become canadian i take it? what country do u apply for citizenship in?
Reply With Quote
  #2  
Old 11-06-2007, 08:44 AM
dlk9s dlk9s is offline
Senior Member
 
Join Date: Nov 2004
Location: It\'s not gonna happen.
Posts: 3,410
Default Re: im fed up with taxes

All you have to do is stand up and proclaim to anyone within earshot, "I RENOUNCE MY UNITED STATES CITIZENSHIP!" Then go from there.
Reply With Quote
  #3  
Old 11-06-2007, 09:15 AM
DeadMoneyDad DeadMoneyDad is offline
Senior Member
 
Join Date: Jul 2007
Posts: 814
Default Re: im fed up with taxes

[ QUOTE ]
but i want to be legit.

i might want to get the ball rolling on renouncing my (US)citizenship. Any advice? anyone do it yet? Become canadian i take it? what country do u apply for citizenship in?

[/ QUOTE ]

The lawyers will have to help you out with this one.

My understanding is you have to pay all your currently owed taxes before the US will consider the move anything other than tax avoidance.

This is not an unbeaten path,


D$D
Reply With Quote
  #4  
Old 11-06-2007, 09:59 AM
4_2_it 4_2_it is offline
Senior Member
 
Join Date: Jul 2005
Location: Trying to be the shepherd
Posts: 18,437
Default Re: im fed up with taxes

Renouncing your citizenship to avoid paying taxes isn't going to work. 3/4 of Hollywood would have done so already if there was a way.
Reply With Quote
  #5  
Old 11-06-2007, 10:08 AM
Kurn, son of Mogh Kurn, son of Mogh is offline
Senior Member
 
Join Date: Sep 2002
Location: Rhode Island and Providence Plantations
Posts: 9,146
Default Re: im fed up with taxes

[ QUOTE ]
but i want to be legit.

i might want to get the ball rolling on renouncing my (US)citizenship. Any advice? anyone do it yet? Become canadian i take it? what country do u apply for citizenship in?

[/ QUOTE ]

1. It is perfectly legal to renounce your US citizenship for tax purposes. The catch is to do so, you must pay US taxes for 10 years after you renounce.

2. You'll only save money if you work a normal job and play poker part time. The US actually has the lowest personal income tax rates of all industrialized countries. True, you get screwed on gambling income, but IMO, as soon as the other quasi-socialist European countries (and Canada, and Australia, etc) figure out how much tax revenue they're leaving on the table, they well may change their laws. Work a normal job in those countries and you get slammed on taxes much worse than in the US. Take the UK. Income tax rates are higher plus there's like a 17.5% VAT on purchases.
Reply With Quote
  #6  
Old 11-06-2007, 03:47 PM
poorolrich poorolrich is offline
Senior Member
 
Join Date: Jan 2006
Posts: 582
Default Re: im fed up with taxes

How will you apply for citizenship???? You can't say you are a US citizen.. How will you get out of the US. Passport no good anymore. How will you stay in the US--You need some type of 'green card', can't get one in the U S. Go to Mx. but they only issue visitor cards to their citizens. I would imagine thats the same for any country. For another country to accept you as a citizen you would have prove yopu would be an asset to their country. You could not work in this country without a work permit. Etc etc etc. If you really want to avoid taxes change your lifestyle and learn to 'fly under the radar'. It can be done but you have to know what you are doing.

http://travel.state.gov/law/citizens...nship_776.html
Reply With Quote
  #7  
Old 11-06-2007, 04:55 PM
Mr Sarcastic Mr Sarcastic is offline
Member
 
Join Date: Oct 2007
Posts: 50
Default Re: im fed up with taxes or are you fed up with citizenship ??

If you work for an employer and reside outside the US, you may qualify for an exclusion from US taxable income of around $81K annually for that earned income.

What you need to complete this is a place to live and work that would not itself tax you on those same earnings.

You take it from there. I am sure you're capable of figuring out what is best for you.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 06:25 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.