Two things Americans don’t like:
- Paying taxes.
- Watching their President play so much golf.
Well, sadly, as an American you must
Correction: you must report that you have income.
The good news is, as an American, you only need to file. You don’t usually have to pay anything. And for most expats (people living abroad), you very likely won’t pay a dime to the US. But you still must file.
As an American living abroad, you file every year about your income, your bank accounts, any foreign loans (e.g. mortgage) …and your paid taxes. This is the pain in the ass part of living abroad.
For the good news when living abroad, your income is tax exempt. Yes, you read that right. When you file your taxes, you include filing a form 2555, or the “Foreign Earned Income Exclusion” form. It’s not a difficult form, but it’s a very important one. Very important to you, if you don’t like paying taxes.
Why Not Pay Taxes?
Why not pay taxes? Because it goes to Trump’s pocket. Want to know how you don’t pay Trump and his family for his golf trips? Read on.
You probably know this already (unless you only watch Fox News). But Trump plays a lot of golf. And he, all the security people, the whole entourage, guests, etc… pay to be there. Who pays for everyone? Taxpayers do. (That’s you.) Trump is President now, so he’s paid for by the people.
Where does the money go? Who owns each and every golf course and resort? Trump and his family.
Sorry if this is too much hand-holding. It is simple and straight-forward.
How to Stop Paying Trump to Golf?
Enjoy more in life. Live in a new culture. Eat your favorite “foreign” food. Even learn a new language. Raise your kids in a fairer, smarter school system. All these benefits, if you can just get past the one step, the one mental hurdle – move abroad.
Once abroad, you’ll earn your income as always. And you’ll file and pay taxes there. You’ll also file taxes in the US, but you won’t pay anything.
The home country will make better use of your tax dollars (euros, yen, dinars). And your kids will be much better off for it. Think of how differently your children will see the world, if they experience it first-hand, rather than read only how others see the US in the news.