What happens tax wise if I trade the US market while not being a resident anywhere and not being from the US or any country with domicile rules - being a so-called perpetual traveler. Assume the address my broker has is in a country with a bilateral tax treaty with US. Could I somehow be liable for any taxation anywhere?
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Having no resident status anywhere
- Thread starter d08
- Start date
LOL
Really, though, I like people like you brother, D.
Now, walk over to your faucet and splash some fresh water in your face.
And for a dose of what really could be:
www.fairtax.org
Really, though, I like people like you brother, D.
Now, walk over to your faucet and splash some fresh water in your face.
And for a dose of what really could be:
www.fairtax.org
You're thinking purely in terms of not being classified as a resident for tax purposes, and on that basis it certainly looks attractive.
You would however need to know the laws and tax codes of every country you trade from, because many tax non-residents earning income at a flat withholding rate. So you'd need to know what each particular country defines as work, and what they tax. Best bet would be sticking to countries which don't classify trading profits as income and have no capital gains tax.
You would however need to know the laws and tax codes of every country you trade from, because many tax non-residents earning income at a flat withholding rate. So you'd need to know what each particular country defines as work, and what they tax. Best bet would be sticking to countries which don't classify trading profits as income and have no capital gains tax.
Here is one fellow (a freeman) who actually settled down. He ended up in jail.
http://www.ctvnews.ca/canada/freeman-on-the-land-tenant-arrested-by-calgary-police-1.1473184
http://www.ctvnews.ca/canada/freeman-on-the-land-tenant-arrested-by-calgary-police-1.1473184
You don't get it. If you're a US citizen, you have to pay the same federal taxes to the IRS no matter where you live on the planet.
The only 'discount' you get is if you are a resident of puerto rico, but even then, short-term capital gains are still 33%, vs otherwise 43%, which is nowhere near enough of a discount to justify living in such a shithole in the first place. If Puerto Rico really wanted traders to move there, they would slash the short-term rate, put it in parity with the long-term rate, and place it somewhere around ~13% even.
Hell, Canadians pay 22% for both long and short-term rates, enough said. The only way for you to not pay taxes is by renouncing your citizenship. Crypto-Currencies in theory provide a way to evade taxes as well, but the infrastructure is nowhere near developed.
The only 'discount' you get is if you are a resident of puerto rico, but even then, short-term capital gains are still 33%, vs otherwise 43%, which is nowhere near enough of a discount to justify living in such a shithole in the first place. If Puerto Rico really wanted traders to move there, they would slash the short-term rate, put it in parity with the long-term rate, and place it somewhere around ~13% even.
Hell, Canadians pay 22% for both long and short-term rates, enough said. The only way for you to not pay taxes is by renouncing your citizenship. Crypto-Currencies in theory provide a way to evade taxes as well, but the infrastructure is nowhere near developed.
not everyone is a US citizen.
there are ways to do it, but its harder. the UK was a tax haven for non doms but now you have to pay them to leave you alone.
You need to move, you need to show no real ties to a country - no houses unless they are rented, less than 6 months per year, no kids in school -some countries dont tax non residents. Its certainly possible.
there are ways to do it, but its harder. the UK was a tax haven for non doms but now you have to pay them to leave you alone.
You need to move, you need to show no real ties to a country - no houses unless they are rented, less than 6 months per year, no kids in school -some countries dont tax non residents. Its certainly possible.
The only 'discount' you get is if you are a resident of puerto rico, but even then, short-term capital gains are still 33%, vs otherwise 43%, which is nowhere near enough of a discount to justify living in such a shithole in the first place. If Puerto Rico really wanted traders to move there, they would slash the short-term rate, put it in parity with the long-term rate, and place it somewhere around ~13% even.
I thought the new Puerto Rico law includes short term capital gains.... really the best option for US citizens if you are willing to have a home base in Puerto Rico.
http://www.caribbeanbusinesspr.com/...illionaire-investors-to-puerto-rico-8300.html