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<blockquote data-quote="paninaro" data-source="post: 1335797" data-attributes="member: 5266"><p>US does tax worldwide income, but has a tax treaty with just about every country out there, which prevents double taxation. For example, if the tax in your country is 20%, and in the US it would be 22%, then you pay 20% to your country, then get a credit for that on your US taxes, and owe 2% to the US. This only applies to US citizens.</p><p></p><p>Also, your first $90k-ish of <em>earned</em> income is exempt from US taxes anyway.</p><p></p><p>In my experience, if it's a European country, the tax rates are higher so you won't end up paying US taxes much at all. But you do need to <em>file</em> your US taxes regardless, which can be a pain.</p></blockquote><p></p>
[QUOTE="paninaro, post: 1335797, member: 5266"] US does tax worldwide income, but has a tax treaty with just about every country out there, which prevents double taxation. For example, if the tax in your country is 20%, and in the US it would be 22%, then you pay 20% to your country, then get a credit for that on your US taxes, and owe 2% to the US. This only applies to US citizens. Also, your first $90k-ish of [I]earned[/I] income is exempt from US taxes anyway. In my experience, if it's a European country, the tax rates are higher so you won't end up paying US taxes much at all. But you do need to [I]file[/I] your US taxes regardless, which can be a pain. [/QUOTE]
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