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Taxes...
(lemmy.world)
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this post was submitted on 21 Aug 2024
842 points (97.3% liked)
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fly that coop, expats out of the US more than 330 days a year ain't got no taxes.
in most other countries you don't pay taxes for whatever time you're not in country.
So that's why the CEO is always touring the European, Asian, and South American sites, and maybe once a year does a whiplash tour of the US sites.... Makes sense now. Fucker makes $6,000+/hr, but I guess paying taxes on that is just too much to handle.
The cap on foreign earned income exclusion is $126,500 for 2024. That's not gonna make much of a dent for Chadbro McTechnut
yup, you don't pay personal income tax up to about $113,000 right now under those conditions, but If you're making $6,000 an hour, it's a lot easier to hire people in countries with stricter privacy laws to hide your cash in shell corporations so that you can pretend you don't have any money at all, just carry around "debt" because one of your companies owes your other company a bunch of money, even though both companies are far in the black.
TIL, I thought the only way out of that was renouncing citizenship
Live wherever you want at a price point you can afford(lots of choices out there) for 11+ months out of the year and income taxes up to 120k(as of 2023) are gonzo.