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The Water Cooler
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More lunacy from California Lawmakers
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<blockquote data-quote="WoodsCraft" data-source="post: 3953835" data-attributes="member: 51836"><p>I lived and worked as an Expat for a long time and you actually don't pay taxes on a pretty large chunk of income as long as you are out of the country for 330 days at a time. When I worked overseas it was something to the tune of the first 80k and the figure changes with inflation I do not know what it is now but it can greatly reduce the tax burden of someone who lives and works OCONUS . </p><p></p><p></p><p>As for off shore accounts it depends on the country you are in but most I lived in would give Expats an account they have KYC compliance like US banks do at this point.</p></blockquote><p></p>
[QUOTE="WoodsCraft, post: 3953835, member: 51836"] I lived and worked as an Expat for a long time and you actually don't pay taxes on a pretty large chunk of income as long as you are out of the country for 330 days at a time. When I worked overseas it was something to the tune of the first 80k and the figure changes with inflation I do not know what it is now but it can greatly reduce the tax burden of someone who lives and works OCONUS . As for off shore accounts it depends on the country you are in but most I lived in would give Expats an account they have KYC compliance like US banks do at this point. [/QUOTE]
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