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Originally Posted by TED74
(Post 3941686)
Am I the only one wondering if you and your friend coordinated to do this intentionally???
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Hey guys, not a Delta guy, so pardon the intrusion. But having lived overseas for the better part of two decades, and still working for a US airline (ACMI Cargo), I do have a little bit of insight about how the taxes will work. The biggest factors will be if you establish bonafide residence in the new country, and the tax treaty, if any, between your new country and the United States. Bonafide residency is based on a few factors, such as home ownership, location of assets, family connections, etc. Tax treaties also vary, so it is not a one size fits all.
In my case, I now have dual citizenship, own a home, and maintain bank accounts in the foreign country (in the EU). I have no physical assets in the United States, and haven't since I moved, and only maintain a mail forwarding address and a single bank account in the States. So by the terms of the tax treaty, I am a bonafide resident of my new country. If I maintained a home, or owned property in the States, maintained most or all of my investments in the States, then my country of bonafide residence might be looked at differently. The tax treaty between my country of residence and the United States has a specific provision for crew members of aircraft and ships, that states if the employing company engages in international transport or commerce, then the nation of bonafide residency has total claim on income taxes from employment, regardless of the country of location of the company (this may not be negotiated in all tax treaties, so it is best to check with a professional). If my U.S. based company only engaged in domestic U.S. flying, the the U.S. would get sole claim to tax my income from that company. As a U.S. citizen, I still have to file a U.S. tax return every year, but all of my tax from my employment income is actually paid to my residence country (it is a significantly higher tax rate, so not like I am escaping paying taxes. I'd be far better off if I could just pay U.S. taxes). Other sources of income are not covered under that provision of the treaty, so if I had income from U.S. investments, or U.S. inheritances, or something else, then I would have to pay U.S. tax on that income. The ultimate point of my post is that there is no "one size fits all" rule when it comes to how expat taxes work, and that the proper way to handle it is to hire a tax professional who specializes in expat taxes. Trying to do it on your own, or accepting internet advice other than "hire a professional" can be very risky. |
Originally Posted by ObadiahDogberry
(Post 3941745)
Hey guys, not a Delta guy, so pardon the intrusion. But having lived overseas for the better part of two decades, and still working for a US airline (ACMI Cargo), I do have a little bit of insight about how the taxes will work. The biggest factors will be if you establish bonafide residence in the new country, and the tax treaty, if any, between your new country and the United States. Bonafide residency is based on a few factors, such as home ownership, location of assets, family connections, etc. Tax treaties also vary, so it is not a one size fits all.
In my case, I now have dual citizenship, own a home, and maintain bank accounts in the foreign country (in the EU). I have no physical assets in the United States, and haven't since I moved, and only maintain a mail forwarding address and a single bank account in the States. So by the terms of the tax treaty, I am a bonafide resident of my new country. If I maintained a home, or owned property in the States, maintained most or all of my investments in the States, then my country of bonafide residence might be looked at differently. The tax treaty between my country of residence and the United States has a specific provision for crew members of aircraft and ships, that states if the employing company engages in international transport or commerce, then the nation of bonafide residency has total claim on income taxes from employment, regardless of the country of location of the company (this may not be negotiated in all tax treaties, so it is best to check with a professional). If my U.S. based company only engaged in domestic U.S. flying, the the U.S. would get sole claim to tax my income from that company. As a U.S. citizen, I still have to file a U.S. tax return every year, but all of my tax from my employment income is actually paid to my residence country (it is a significantly higher tax rate, so not like I am escaping paying taxes. I'd be far better off if I could just pay U.S. taxes). Other sources of income are not covered under that provision of the treaty, so if I had income from U.S. investments, or U.S. inheritances, or something else, then I would have to pay U.S. tax on that income. The ultimate point of my post is that there is no "one size fits all" rule when it comes to how expat taxes work, and that the proper way to handle it is to hire a tax professional who specializes in expat taxes. Trying to do it on your own, or accepting internet advice other than "hire a professional" can be very risky. |
Originally Posted by ObadiahDogberry
(Post 3941745)
Hey guys, not a Delta guy, so pardon the intrusion. But having lived overseas for the better part of two decades, and still working for a US airline (ACMI Cargo), I do have a little bit of insight about how the taxes will work. The biggest factors will be if you establish bonafide residence in the new country, and the tax treaty, if any, between your new country and the United States. Bonafide residency is based on a few factors, such as home ownership, location of assets, family connections, etc. Tax treaties also vary, so it is not a one size fits all.
In my case, I now have dual citizenship, own a home, and maintain bank accounts in the foreign country (in the EU). I have no physical assets in the United States, and haven't since I moved, and only maintain a mail forwarding address and a single bank account in the States. So by the terms of the tax treaty, I am a bonafide resident of my new country. If I maintained a home, or owned property in the States, maintained most or all of my investments in the States, then my country of bonafide residence might be looked at differently. The tax treaty between my country of residence and the United States has a specific provision for crew members of aircraft and ships, that states if the employing company engages in international transport or commerce, then the nation of bonafide residency has total claim on income taxes from employment, regardless of the country of location of the company (this may not be negotiated in all tax treaties, so it is best to check with a professional). If my U.S. based company only engaged in domestic U.S. flying, the the U.S. would get sole claim to tax my income from that company. As a U.S. citizen, I still have to file a U.S. tax return every year, but all of my tax from my employment income is actually paid to my residence country (it is a significantly higher tax rate, so not like I am escaping paying taxes. I'd be far better off if I could just pay U.S. taxes). Other sources of income are not covered under that provision of the treaty, so if I had income from U.S. investments, or U.S. inheritances, or something else, then I would have to pay U.S. tax on that income. The ultimate point of my post is that there is no "one size fits all" rule when it comes to how expat taxes work, and that the proper way to handle it is to hire a tax professional who specializes in expat taxes. Trying to do it on your own, or accepting internet advice other than "hire a professional" can be very risky. |
Are you contemplating moving to a location that Delta currently serves?
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Originally Posted by Tyler Brisbon
(Post 3941329)
I commuted to BRU for one year before I got on with the airlines. It sucked, not fun at all. On the bright side, my wife got pregnant by a friend of mine, negating alimony, which made things a bit more tolerable.
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Originally Posted by bender
(Post 3942052)
Are you contemplating moving to a location that Delta currently serves?
Moving to Finland... less easy. |
Originally Posted by bender
(Post 3942052)
Are you contemplating moving to a location that Delta currently serves?
It’s Sydney, Australia. |
Originally Posted by neodd
(Post 3942169)
Yes. I didn’t say because we are just discussing the idea and feasibility currently. It’s data collection, not a serious discussion at this point. And because it’s so ridiculous I didn’t want people to poopoo on the idea before giving useful information.
It’s Sydney, Australia. |
Originally Posted by neodd
(Post 3942169)
Yes. I didn’t say because we are just discussing the idea and feasibility currently. It’s data collection, not a serious discussion at this point. And because it’s so ridiculous I didn’t want people to poopoo on the idea before giving useful information.
It’s Sydney, Australia. |
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