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American digital nomad taxes
Posted: February 1st, 2018, 6:49 pm
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
Re: American digital nomad taxes
Posted: February 3rd, 2018, 2:13 am
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...
Re: American digital nomad taxes
Posted: February 3rd, 2018, 6:43 pm
by nomadphilippines
no.
Re: American digital nomad taxes
Posted: February 5th, 2018, 3:46 pm
by Mr Natural
Link doesn't work.
Re: American digital nomad taxes
Posted: February 5th, 2018, 4:01 pm
by eurobrat
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.
Re: American digital nomad taxes
Posted: February 5th, 2018, 8:11 pm
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
Re: American digital nomad taxes
Posted: February 5th, 2018, 8:24 pm
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.
Re: American digital nomad taxes
Posted: February 11th, 2018, 10:06 am
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.