You may not know it but Biden did raise your tax I'll explain

OK, this is for overseas people , but I'm sure some hidden tax change you'll all find out soon when you do your taxes.

First I don't know what the income tax percent is.

Now I'll explain.

1. Last year one did not have to pay income taxes on income earned overseas up to 100000 dollars. ( OK , there is more to this but it is in the tax code 2. Now under the Biden Admin for filling your taxes if you earn income overseas ( basically this involves people living and working overseas) you now have to pay taxes on income earned over 72000 dollars.

For those of you that don't know it, we still pay in the foreign country taxes on the 72000 dollars and any income above that.

So now we have to pay taxes on the 28000 dollars that we didn't have to a year ago.

All I can say is the current administration WILL come after you. PERIOD
Be careful with them FEMA camps people.

a reply to: musicismagic

Don't live overseas, problem solved.

originally posted by: AugustusMasonicus
a reply to: musicismagic

Don't live overseas, problem solved.

Not so easy these days.

Inflation alone is a designed tax increase. The second you get paid the money depreciates faster. It's decomposing but many do not understand it. All they know is prices are high. It's not the prices. Your money is worth less and you are being taxed more on the higher price. It is a tax increase.

Only a couple of ways to try and combat it. Buy something that does not lose value or gamble in the market. A third option is to buy something you always wanted and enjoy life since interests rates are low. I chose a mix of the three.

As for the oversees part I don't have any empathy. Why do you get to live tax free being a US citizen. Makes no sense. Give up your citizenship then. So at some point you plan to comeback to the US and use all the roads and other things we bought for you? No.

originally posted by: musicismagic
Not so easy these days.

Sure it is and for another thing this wouldn't even impact you.

originally posted by: Stupidsecrets
Inflation alone is a designed tax increase. The second you get paid the money depreciates faster. It's decomposing but many do not understand it. All they know is prices are high. It's not the prices. Your money is worth less and you are being taxed more on the higher price. It is a tax increase.

Only a couple of ways to try and combat it. Buy something that does not lose value or gamble in the market. A third option is to buy something you always wanted and enjoy life since interests rates are low. I chose a mix of the three.

As for the oversees part I don't have any empathy. Why do you get to live tax free being a US citizen. Makes no sense. Give up your citizenship then. So at some point you plan to comeback to the US and use all the roads and other things we bought for you? No.

I didn't make the tax rules.

a reply to: musicismagic

Fair enough. I get beat up by taxes as well. As soon as I figure out how to mitigate it they change the rules. One fool proof way to beat is though is start a charity or some sham business that loses money like all the elites. I knew someone that bought some land and a couple cows and called it a farm. It was not a farm. It was a massive tax break for him. I'm doing something similar right now. It is a legit charity however but it pays for my expensive hobby.

originally posted by: AugustusMasonicus

originally posted by: musicismagic
Not so easy these days.

Sure it is and for another thing this wouldn't even impact you.

Try not paying your 50000 dollars in back taxes and try to leave America, not going to work under the Biden administration AM

originally posted by: Stupidsecrets
a reply to: musicismagic

Fair enough. I get beat up by taxes as well. As soon as I figure out how to mitigate it they change the rules. One fool proof way to beat is though is start a charity or some sham business that loses money like all the elites. I knew someone that bought some land and a couple cows and called it a farm. It was not a farm. It was a massive tax break for him. I'm doing something similar right now. It is a legit charity however but it pays for my expensive hobby.

Good to hear that SS.

originally posted by: musicismagic
Try not paying your 50000 dollars in back taxes and try to leave America, not going to work under the Biden administration AM

Zero sympathy for country-fleeing tax cheats. Own your behavior.

What passed bill recently changed this tax requirement?

originally posted by: AugustusMasonicus
a reply to: musicismagic

Don't live overseas, problem solved.

Ahahahaha
Aaaaaahahahahaha
Aaaaaaaahahahahahahaha

Too sweet!!!!!
Thank you so much for that!!!!

a reply to: shooterbrody

You're welcome, solving problems is what I do. My further advice to him would be don't earn over $100K a year if you do live overseas but he's not close to having that issue. My further, further advice is don't be a tax cheat and live overseas.

You may not know it but Biden did raise your tax I'll explain

originally posted by: musicismagic

First I don't know what the income tax percent is.

well you seem like the expert people needed to explain it to them

The old FEMA camp fear. Death panels. Plastic coffins. They are coming to take all our guns. Mr Potato head. Dr Seuss, big bird, oh my.

Not gonna happen, but please, live on fear and anger, if that rattles your chain.

originally posted by: AugustusMasonicus
a reply to: musicismagic

Don't live overseas, problem solved.

Wow. Really? Are you sure about that? Suppose you want or need to move to another country some day ? Freedom & such , such a nice basic thing.

originally posted by: ancientlight

originally posted by: AugustusMasonicus
a reply to: musicismagic

Don't live overseas, problem solved.

Wow. Really? Are you sure about that? Suppose you want or need to move to another country some day ? Freedom & such , such a nice basic thing.

If you marry a foreign spouse, then what?

originally posted by: ancientlight
Wow. Really? Are you sure about that?

Yeah, really. If you feel you need to move to another country to avoid paying taxes you should put on your big boy pants and renounce your citizenship.

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originally posted by: MiddleInsite
The old FEMA camp fear. Death panels. Plastic coffins. They are coming to take all our guns. Mr Potato head. Dr Seuss, big bird, oh my.

Not gonna happen, but please, live on fear and anger, if that rattles your chain.

There are literally quarantine camps right now in Australia. Yes, most of us , our fear is that this will spread to the rest of the world. The aussies already lost their guns