American digital nomad taxes

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nomadphilippines
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American digital nomad taxes

Post by nomadphilippines »

the best i can gather American self employed digital nomads need to pay roughly 15% tax, here is a calculator for what they owe

https://www.fool.com/taxes/2017/03/26/20...u-owe.aspx

is this correct?

is there a way to pay some expat tax service to cut these costs down? seems odd to have to pay medicare when you arent going to be using the service
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publicduende
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Re: American digital nomad taxes

Post by publicduende »

Wouldn't it be easier to just give up your American citizenship? It's not like that blue passport is as coveted as it used to be...
nomadphilippines
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Re: American digital nomad taxes

Post by nomadphilippines »

no.
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Mr Natural
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Re: American digital nomad taxes

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Link doesn't work.
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eurobrat
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Re: American digital nomad taxes

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publicduende wrote:
February 3rd, 2018, 2:13 am
Wouldn't it be easier to just give up your American citizenship? It's not like that blue passport is as coveted as it used to be...
Its gaining steam now that we got the Trump Train.
nomadphilippines
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Re: American digital nomad taxes

Post by nomadphilippines »

looks like motleyfool took that page down cant find it, but you just do 15% and that is what you owe for the most part

anyways, anyone know of any good expat tax services that charge a reasonable fee and can save us some money off that 15%?

thanks if so
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eurobrat
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Re: American digital nomad taxes

Post by eurobrat »

nomadphilippines wrote:
February 5th, 2018, 8:11 pm
looks like motleyfool took that page down cant find it, but you just do 15% and that is what you owe for the most part

anyways, anyone know of any good expat tax services that charge a reasonable fee and can save us some money off that 15%?

thanks if so
This question is like “how long is a piece of string”?

Everyone’s taxes are different and the level of complexity varies.
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Man With a Plan
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Re: American digital nomad taxes

Post by Man With a Plan »

publicduende wrote:
February 3rd, 2018, 2:13 am
Wouldn't it be easier to just give up your American citizenship? It's not like that blue passport is as coveted as it used to be...
So you want to renounce citizenship. Hi. I'm Franklin Ironside, the Chief Chairman for the Stupid Ideas Conglomerate.

Okay but seriously, you make a point. The Swiss passport is where it's at, however, it's bad to renounce citizenship as an American UNLESS you know what you're doing. They have an exit tax which goes back five years from the date you wish to renounce. If you make more than a certain amount, you're on the hook before you get your citizenship trashed. And I doubt he's trying to be a Filipino anytime soon.
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