Chile Forum

Here is a pretty good guide worth reading:

http://www.lewrockwell.com/pr/american-expatriation-guide.html


StanTheMan

Andres wrote:
+ A US-based accountant is doing my US tax returns for recent years. Hopefully there is little problem as I am under thresholds.

>seems to me that there are more benefits of having U.S. citizenship and passport than there are not.

Maybe you are right. But I have not done too badly forecasting future political trends. I see little benefit now and predict greater risk in the future. (I might be wrong.)

In my experiences with international complicated taxes - did two countries for 11 years and three for a spell - I wouldn't count on US based accountants to be on top of international tax issues. If it were me, I would find an international tax accountant offshore and pay through the nose if needed.

I would do it with someone to whom I could return to years later if I ran into problems with US authorities. It would be pretty hard to get help from (or go after) a US based accountant five years later if you run into trouble based on their advice. An added benefit to staying offshore would be not having your personal information on file in a US office, especially if it is not in a law office.

As for trends forecasting, there is the trend towards retroactive rule making. You want off the US tax plantation as soon as possible.

Finally, call me paranoid, but I would give no hints of net worth anywhere in public including here.

Andres wrote:I visited my 'friendly, neighbourhood' US consulate today for my first of two interviews renouncing my US citizenship.

The consular official asked why I wanted to do so. I explained a couple of many reasons. She did not make any judgemental comments on my reasons. I think they want to make sure the person is lucid and has thought about the subject, rather than being induced by another person or persons to do so. They want you to understand the action is final and does not nullify any back taxes owing to the US govt.

And of course they want their $450.

And they will keep a record of the encounter - which can and might be used against you in the future. How? Who knows, but don't forget how enterprising and ingenious we Americans can be.

Chuck J 3.0 wrote:

seawolf180 wrote:T....... Not when they can legally "print money." ETC.
......

Lazy thinking alert, seawolf! Tangent re: the OP, but it needs to be said.


What is the problem with legally printing money? Would you have them print it illegally?

Printing money is one of the legitimate functions of a national government.

"Lazy thinking alert"???
Who the hell made you the intellect police?
I was refering to QE. Sorry I wasnt specific enough for you genius.

http://en.wikipedia.org/wiki/Quantitative_easing

What the US government is doing to it's currency should be unconstitutional... ya illegal. Hell yes.
Spent any dollars abroad lately Chuck?