Hi,
I am relocating to Shanghai next year and I am thinking about keeping my Green Card going in order to re-enter the US once my contract in China is completed. I am concerned at paying double-tax on my income although I believe that you can claim foreign tax relief. Has anyone had experience of the process and how much tax relief can be gained?
Thanks,
NG
US expats paying double tax
northernerguy
21 December 2017 23:11:07
3
VANNROX
22 December 2017 01:33:34
632
You will need to pay double tax. It is the American way. If you want your Green Card you will need to PAY DOUBLE taxes. It's the American way. You can thank DEMOCRATS for this law, by the way. In their minds you are an evil off-shore haven uber-rich scoundrel.
However, if you hire an Internal American tax attorney, they will be able to help keep the taxes you pay low. Rates are reasonable at only $300 / hour. You might only need around a month or two for their services.
...
OK. Now that you are sufficiently aware of the consequences of being American, you need to know the "work arounds".
There aren't any.
If you own a iphone, or have a Facebook account, the US government knows everything about you. You don't want to get on their bad side. Just imply plan on paying double tax when you leave the USA. You can get by without being caught for a few years. But once they catch you...OUCH!
northernerguy
22 December 2017 15:11:27
3
Thanks Vannrox. Well, my decision is made. Single tax please.
VANNROX
23 December 2017 05:13:58
632
There is a workaround.
I do not advocate this (wink. wink.) but it is doable. What you do is use your natural passport (non-American greed card) to travel and work in China with. While you are in China, do NOT do anything that is associated with the American green card. Do not use banks that have agreements with America, and NEVER use anything related to the American government. That will keep you off the NSA, CIA, IRS, DHS, and FBI radar.
Now, I do not officially recommend this. As a "green cardholder", what you make belongs to the United States. Your only privacy is what is afforded you when do not use American related reporting agencies.
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