Home Residency in Schengen Thinking Of Leaving America? Here's What It'll Cost

Thinking Of Leaving America? Here's What It'll Cost

The 9 million Americans who live outside of the U.S. all have one thing in common: they have to report their income to the U.S. and file taxes. Expatriates have to pay taxes to both the U.S. and the country they reside in. The U.S. and Eritrea are the only two countries that do this.
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Thinking Of Leaving America? Here’s What It’ll Cost | CNBC

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32 COMMENTS

  1. if you renounce US Citizenship you lose Soc Security Benefits. You hv to go thru a filing of last 7 years or more of all incomes from outside US the local countrie's tax agencu certificate and untold amount of paper work. Now you withdraw your 401K youpay a hefty tax on it. just a complicated process. Best way withdraw all teh 401K money seell your property take all your money out and leave the country to some place where they cant touch you

  2. This is a good reason not to immigrate to the united states ever. I wish people would think twice before immigrating to this shithole so they dont dont go through what we are going through. The two political party monopoly is the source of majority of our problems.

  3. Just make it where Americans only have to pay taxes abroad after some absurdly high amount like $500,000 in income. Poof problem solved and people can't use loopholes. That's the only reason I see for this, loopholes.

    Honestly in my opinion Americans living abroad should only have to pay a small 2-5% tax for military and consulate services, that's it.

    patriotism has nothing to do with this. huh?

  4. What? If you were to completely destroy your American citizenship and move overseas such as to New Zealand, your not just paying taxes to New Zealand you still have to pay taxes to the USA? I could imagine if some countries are getting fed up with the American tax system from demanding taxes, and now banning the American tax system

  5. I don't know why people want to live in other countries you have no rights you can't have guns to protect yourself and if you have a fight it is your fault even if it's not cause you are in their country I can live in America on 900.00 a month easy in an RV camper I pay 250.00 a month plus electric which is about 100.00 a month I get 1500.00 a month so everything's paid off so I live pretty good and I have my rights.

  6. The IRS is basically the the mob for the US that collect funds and find you heavily if you don't pay on time, wage garnishment, leans on homes, finds that are so high it can ruin you. The US Pharmaceutical industry are the Drug pushers that pay off the US government officials to be able to sell additive drugs legally and make Billions.. Welcome to Capitalism.. That is why every Christmas the News reports on how much money was spent during Christmas vs last Christmas. It's all about the money

  7. I don't get it. If being in America is such a problem for some people to the point that they feel compelled to live somewhere else, why are they clinging to American citizenship? Moreover, if a person remains a citizen of some country why is it so difficult to understand that you need to abide by the rules set down by that country? But what is going on here, in some cases, is deceitful BS! There are those who want to complain about America and leave America but yet hold unto America just in case things go south in that other country then you can run your deceitful butts back to America. Well I say, a pox on you, you traitors! Get real you ungrateful sacks of rancid dog excrement! Renounce your citizenship, pay the one time exit fee/tax and get the hell out of dodge and don't come back!

  8. What's the problem? Renounce your citizenship and if you get homesick and want to return to the US just slip in at the Mexican border like all the other illegals and you'll get all the freebies you want

  9. To my fellow Americans wishing to renounce your U.S. citizenship, you have to become a citizen of another country first. You also have to pay an "Exit Tax" prior to renouncing your U.S. citizenship, and pay an renouncing fee of about $4k. I am not saying to discourage you, because I am seeking to renounce my U.S. citizenship, when I retire.

  10. Since we no longer have a Constitution or Bill of Rights, there really is nothing else keeping me here. I can go anywhere and experience that.

  11. This place is crashing and burning the minute I’m out of college if this country doesn’t shape up I’m leaving and renouncing my citizenship.

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