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| US Federal Income Tax and the Expat https://forum.costaricaticas.com/viewtopic.php?f=1&t=16045 |
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| Author: | ZeeBraWon [ Fri Mar 16, 2007 10:40 pm ] |
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Funny, I was reading this just tonight: http://www.transitionsabroad.com/listin ... ving.shtml Apparently, Costa Rica doesn't *tax* you on your US Earnings. They just want them deposited in *their* bank monthly. I'm sure I'm going to be corrected here soon, but I hope the link above provides some detail. |
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| Author: | BlueSkies [ Fri Mar 16, 2007 10:52 pm ] |
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if i'm correct, if you live outside US for 9months of the year you get a approx 80,000 tax deduction and since your income is not generated in costa rica from running a biz or working there should be no tax liability in CR, |
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| Author: | El Silencioso [ Sat Mar 17, 2007 1:51 am ] |
| Post subject: | Re: US Federal Income Tax and the Expat |
Pacifica55 wrote: Hola Amigos,
I am a recently retired former federal employee. I am wondering if anyone could give me some insight into the tax rates for Expats living in Costa Rica for at least a portion of the year. I tried the search feature and struck out on this very non-sexo topic. To all who would like to never think of this topic, I apologize if I harshed your buzz. I think it would do you well to read this. http://www.escapeartist.com/Offshore_We ... xpats.html As I am a tax consultant who does extensive work for Ex pats as well as clients in several countries outside the US. The above is not quite true PM me if you want some more detailed info. El S |
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| Author: | El Silencioso [ Sat Mar 17, 2007 2:04 am ] |
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Reposted in VIP section |
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| Author: | Ticobob [ Mon Mar 19, 2007 10:49 am ] |
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In order to use the $82k expat deduction; You meet the bona fide residence test if you are a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year. You can use the bona fide residence test to qualify for the exclusions and the deduction only if you are either: A U.S. citizen, or A U.S. resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect. You do not automatically acquire bona fide resident status merely by living in a foreign country or countries for 1 year. http://www.irs.gov/businesses/small/int ... 60,00.html |
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