The Nomad Trap: How to Legally Avoid Tax as a Digital Nomad

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Nomad Capitalist

Nomad Capitalist

7 жыл бұрын

nomadcapitalist.com/tax-reduct...
If you want to legally avoid tax as a nomad, more often than not, it will take more than just leaving your country.
If you don't take the proper steps and fill out proper forms to become tax non-resident, there is a good chance that it will cost you down the road in back-tax.
This is the trap nomads fall into all the time.
You should stay informed about tax laws of your country and then do what's necessary to have a base in a foreign country of your choice.
Andrew explains how to stay away "The Nomad Trap" and make sure you legally avoid paying tax to a country you don't live in.
Understanding this is exceptionally relevant right now since so many countries are changing their tax laws, and to avoid this nomad trap, you need to be in the loop.
Keep watching the video to get all the details and remember to subscribe for fresh information on how to reduce taxes, have more freedom and keep more of your money.
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ABOUT NOMAD CAPITALIST
Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".
Work with Andrew: bit.ly/Nomad-Capitalist-Applic...
Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.
He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.
About Andrew: nomadcapitalist.com/about/andr...
Our website: www.nomadcapitalist.com
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Buy Andrew's book: amzn.to/2QKQqR0
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

Пікірлер: 124
@passivesolar6194
@passivesolar6194 3 жыл бұрын
Phenomenal information and absolutely correct. Friends moved to Puerto Rico based on the 183 day rule, Article 20 and 22, rented out their house hear etc....thinking they dont have to pay taxes here. Huge mistakes. Everything is still here even though they rented a home in Puerto Rico and moved their business there. The business they moved there does not qualify for the Articles. If there is one thing Andrew teaches al, of us is to do our homework. Trust but verify.
@splint3048
@splint3048 6 жыл бұрын
Good advise there. I recall an Australian man who sold up all of his assets in Australia, removed himself from electoral rolls, public health system and everything else which may deem him to be an Australian tax resident. After living abroad for some time he was legally challenged by the ATO and in the court ruling one thing tipped the scales, he maintained a lease on a pier for his yacht. That lease was enough for the Judge to conclude that he intended to return to to live in Australia at some point and that his premise of departing Australia to live permanently in another country was simply for tax avoidance purposes.
@mobileandroid5299
@mobileandroid5299 4 жыл бұрын
Listen, ISIS uses the same techniques and they don't obscure it with wordsmith BS on paper. The judge makes money from taxes, so it is logical he will render opinions to the cause that will continue to enrich him
@thomassorheimdanielsen
@thomassorheimdanielsen 5 жыл бұрын
Just a tiny specification on Norway. It takes 3 FULL calendar years until you are out of the claws of Norway taxman, not 3 years only. So if you 'move out' 2 January, you technically have 4 years until you are out!
@andreasrnning2339
@andreasrnning2339 4 жыл бұрын
Its actually in February somewhere i've read, but yeah, I have 3 calendar years left. Wooohoo
@mobileandroid5299
@mobileandroid5299 4 жыл бұрын
Except the Muslims who live on welfare :)
@kamil-6561
@kamil-6561 2 жыл бұрын
How its working with other dualtax agreement beacouse they will tax twice people then ?
@thomassorheimdanielsen
@thomassorheimdanielsen 2 жыл бұрын
@@kamil-6561 Yes, kind of... In my case, I am Norwegian and I was paying around 40% tax. Then I moved to Lithuania, where the tax is/was around 20% (I do not remember the exact tax numbers now, its 15 years ago :) ). So I would be a tax resident in Norway for 3 and a bit years (I moved out in August). Lithuania and Norway have a tax agreement. So I paid 20% to Lithuania and 20% to Norway (Norway deducted 20% from their 40%) for 3+ years.
@kamil-6561
@kamil-6561 2 жыл бұрын
@@thomassorheimdanielsen that is what i could name robbery. We as sociecty are really in bad position because I see those laws only expand from now not deescalate. To put those laws in place I see that most high net worth individual wanted leave after tax hike probably. I just wonder if any high income person will ever consider resident in Norway/Sweden. In Poland there inroduced law that when you leave country you will pay 20% tax on unrealised capital gains over 1m Euro... Just wonder if that will goes to Sweden.
@neilkasher
@neilkasher 7 жыл бұрын
Great information thanks Andrew
@rundmc5554
@rundmc5554 4 жыл бұрын
excelent video -- so much good free content andrew, I feel bad getting all this info for free. such value
@mysticalrose1414
@mysticalrose1414 4 жыл бұрын
Excellent advice. Spot on with the research I have been doing. God bless you.
@nomadcapitalist
@nomadcapitalist 4 жыл бұрын
Glad it was helpful, Mike.
@vansolo9794
@vansolo9794 5 жыл бұрын
Taxation = Poverty leading to early death. I travel around the World for pleasure. I trade currencies, commodities and Indices. It is a tax free income as far as the UK is concerned. I do not have to declare anything. It is regarded as 'gambling'....and that is a matter of perspective I'm afraid, but officially the case as far as revenue collection is concerned. I lose money but I make more than I lose almost every time. Fifty % of my money goes into gold and silver and very little ends up in a bank!!
@stockpumpers975
@stockpumpers975 5 жыл бұрын
Wait I'm a trader and the UK doesnt tax stock gains?
@LiverpoolxC
@LiverpoolxC 3 жыл бұрын
@@owendavies8227 do you have any examples? I thought we have to pay capital gain tax on any day trading profits over 11k?
@mochileiro21
@mochileiro21 4 жыл бұрын
I am a Portuguese citizenship and South Africa. My brother has residence in the Netherlands. I had to change my residence address. The Portuguese government send a letter to the address that I provided in Netherlands, and then I had to go to the Portuguese consulate to active my address in the system. Every letter regarded to Portuguese government it's send it to my brother house in the Netherlands. I don't have to pay taxes. But on reality I am living in Australia.
@himpoet
@himpoet 2 жыл бұрын
Hi Fernando. I am in the process of changing my tax residency from Portugal to another country and appointing a legal representative as well, but there are taxation matters I may have to resolve until that is sorted out. Would you happen to know a good accountant in Portugal that is knowledgeable about digital nomad concerns? Many thanks!
@mochileiro21
@mochileiro21 2 жыл бұрын
Sorry. I have no idea.
@wavemastery1786
@wavemastery1786 6 жыл бұрын
This guy deserves respect !!
@Misanti888
@Misanti888 3 жыл бұрын
Great topic, Andrew. Definitely needs in depth research...
@tsuchan
@tsuchan 4 жыл бұрын
Thanks for your advice... really useful video!
@nomadcapitalist
@nomadcapitalist 4 жыл бұрын
Thank you!
@luiso.6819
@luiso.6819 6 жыл бұрын
Thank you!
@ianoliver6828
@ianoliver6828 4 жыл бұрын
Can someone please explain to me why I should pay taxes when I don't use the facilities taxes pay for? I've loved outside the US for 3 years. Why the hell would I pay any taxes to the US? I don't use the roads, my kids don't use the schools, and the US embassies and consulates are notoriously difficult to deal with. It's hard for me to even get inside one. So why the hell would I pay taxes or even report my earnings?
@bataraza2
@bataraza2 2 жыл бұрын
Thank you very much.
@TakashiNippon
@TakashiNippon 6 жыл бұрын
Excellent point. In Canada we need to keep no primary ties such as Home , Family living here, and hold very little secondary ties such as Bank Account, Licence, Passport, Health Insurance, etc. We also need to live away for "a while" i am guessing about 2-3 years to establish residence in another country to avoid legally paying taxes here in Canada.
@SACREDFlRE
@SACREDFlRE 5 жыл бұрын
You need to renounce your passport and close your bank accounts ?
@genstian
@genstian 7 жыл бұрын
Norway does void your 3 year tax if you get a residency, tax residency and have your center of live in a different country (at least in the eyes of the law). Which is pretty impossible in countries like Thailand for a person that just have a pension income. It is also a paperwork nightmare for some folks.
@mobileandroid5299
@mobileandroid5299 4 жыл бұрын
But this is for Norwegians, right? Imagine a Swiss working and living in Norway and then after 10 years, he leaves. How is Norway going to claim him?
@frantzl
@frantzl 3 жыл бұрын
@@mobileandroid5299 It is only for Norwegian citizens
@andoniluisaduriz
@andoniluisaduriz 4 жыл бұрын
Pretty useful information ... thanks
@nomadcapitalist
@nomadcapitalist 4 жыл бұрын
Glad it was helpful!
@ruairioconnor8136
@ruairioconnor8136 5 жыл бұрын
Hey, I was born in Ireland, pretty pumped. Just wondering if you could do a video on advantages of same! Great job.
@ImageofTanen
@ImageofTanen 6 жыл бұрын
Needed this 😁
@ramoneh7123
@ramoneh7123 7 жыл бұрын
Great video
@munnybunny
@munnybunny 4 жыл бұрын
As a US citizen would you know if it's advantageous to incorporate yourself as a S corp if you earn over the FEIE limit? Say you earn 155k/yr and the FEIE covers 105k of the salary you pay yourself. The remaining 50k you then "distribute" to yourself from the corporation and would also be tax exempt? If I understand it correctly.
@A11mighty
@A11mighty 5 жыл бұрын
Taxation is theft, Bless your soul!
@priestesslucy3299
@priestesslucy3299 2 жыл бұрын
Depends on the country. Some countries have fair and balanced tax policies that don't abuse success, and aren't filled with corruption and bloat and properly utilize the funds rather than waste most of the tax revenue. But yeah, many if not most western nations are thieves.
@JohnLaPaglia
@JohnLaPaglia 7 жыл бұрын
Great video.
@nomadcapitalist
@nomadcapitalist 7 жыл бұрын
Thanks John!
@MrGeor1983
@MrGeor1983 6 жыл бұрын
In Greece, when you leave the country, you have to transfer your rights from the local/town taxation authority to a special authority for Greek citizen leaving abroad (by providing an official proof from a foreign taxation authority or Greek consular office abroad, or any other local agency). In that authority, they need to know the address you ll be leaving abroad and they want you declare a representative for them (if you do not have a relative, you have to hire an attorney). If you forget to transfer your rights, you are liable to a taxation of your worldwide income and you might be double taxed if your new home country already taxes you for your worldwide income and there is no tax treaty
@usurum4898
@usurum4898 2 жыл бұрын
πως ακριβώς ορίζεις την διπλή φορολογηση, μπορεις να δωσεις ενα παραδειγμα?
@MrGeor1983
@MrGeor1983 2 жыл бұрын
@@usurum4898 Example of double taxation: You have income from two countries (US and Greece). USA treats you as US taxation resident as you have overstayed the 183 days (in US). Greece treats you as Greek taxation resident as well according to their rules (you have NOT transferred your rights from the local/town taxation authority to a special authority for Greek citizen leaving abroad, or you neglected to do that so). You prepare the US tax returns (early March) and you are taxed for the global income (Greek and US). US thankfully considers a tax credit for the Greek income that has already been partially taxed at the source (according to the tax treaty between Greece and US) in Greece. You are taxed for the global income in the Greek tax returns (by end of June). Greece considers a tax credit for the US income tax that has already been paid. However they consider only the federal part of taxes paid. Thus, because they do no take credit for the state (e.g. Colorado, etc.) taxation, you end up to being double taxed. Additionally , Greece considers that tax credit up to a percentage of the US income (they do not allow that percentage (federal taxes / US income) to surpass the Greece income taxation percentage, or else they adjust that credit). Thus, Greece does not allow other countries to tax more than what they do. This is their internal rule. The above example is from my personal experience. Other (worst) examples with other countries might exist for which there are not treaties at all. Go where you are threated the best.
@StefanDevito
@StefanDevito 4 жыл бұрын
Thanks so much! Any idea about Germany?
@Isaac-fit
@Isaac-fit 4 жыл бұрын
Im from Spain and I ve been living abroad for the last 4 years, I havent been ask for any tax in spain, I havent work there or done any movements for the last 4 years , I m affraid to have further problems at the time im back
@fonzyfonzy7325
@fonzyfonzy7325 5 жыл бұрын
Can you add more vids and where do u recommend, I run a retail shades shop , and don’t want to live here in Texas anywhere?
@PaolaEnergya
@PaolaEnergya 7 жыл бұрын
I have just subscribed so forgive me if this question has been asked before. You made the example of closing Australian bank accounts to prove you have changed residence permanently. But say that, for circumstances beyond your control, you need to leave the country and go back to Australia. Opening new bank accounts without any credit history nor other essential documentation would be incredibly difficult. Is there absolutely no way you could still keep your original bank accounts as a back up? Many thanks
@os2841
@os2841 6 жыл бұрын
Great videos but do you not have a tripod?
@jasonstemley1232
@jasonstemley1232 7 жыл бұрын
Have you heard of or would you any information about this "World Tax" I keep hearing about. What is it and is there a way to get around this? Also retirees do not pay taxes in the US but once they go nomadic what does that mean for them? What taxes would they have to pay into? If any? Also is there a country that does not participate in this so called "World Tax" Is there a such a place for tax shelters anymore? Thanks.
@AWidgetIHaveNot
@AWidgetIHaveNot 5 жыл бұрын
Always eat vegetarian in Egypt. It's a wonderful country with great people but it is known for food poisoning, in the same way, Spain was decades ago.
@cecile4648
@cecile4648 4 жыл бұрын
Thanks for this video! I'm currently thinking about registering as self-employed in Georgia (the country) and have so many questions I'm struggling to find the answers to. Does anyone know what kind of proof is required to show that you spend 183+ days per year in a given country? I mean, would it be enough to get a 6-month or even a 1-year lease on an apartment even if I don't actually spend half the year there? (I guess I would also cancel my French cell phone plan, close my French bank account etc). To be honest the biggest thing for me at this point is not even tax (I'm in the lowest tax bracket, I don't mind paying that and I'm definitely not trying to do anything illegal; even though I don't think it's fair for me to be paying tax in France when I haven't lived there for 5 years, being a nomad), it's more about the social contributions (22.2% of my revenue). Not paying those would make a huge difference. Which leads me to another big question: when you're self-employed in Georgia, do you pay social contributions and what's the healthcare system like? Huge thanks to anyone who's got some answers or can help me find the info!
@himpoet
@himpoet 2 жыл бұрын
Hi Cécile. Have tou since found the answers to those questions? I am struggling with similar issues and the case of Georgia is also of interest to me.
@VeinsDeLAlfaz
@VeinsDeLAlfaz 28 күн бұрын
Good warning indeed. Question: I am planning to go from Spain to Cyprus: is article 4.1 of the tax treaty not enough? I.e. to not have a residency at your permanent disposal in Spain and to have one permanently in Cyprus? Why are so many talking about “where your economic world is”…. That’s I think only becoming relevant if the first tie-breaker doesn’t give a clear answer…. What’s your view pls
@Mindsetolympics
@Mindsetolympics 4 жыл бұрын
Where can we read more about this??
@shiva_689
@shiva_689 5 жыл бұрын
I have a question: can I be a tax resident in a low- or no-tax country without spending 183 days of the year there? Based on what you said it sounded like you can because you said you should definitely spend more than one day a year there but what does that mean exactly? How much time are we talking about? Now, I realize that the more important aspect is how many ties you have to that country but I'm wondering about what you mean by "more than one day a year" nonetheless
@nomadcapitalist
@nomadcapitalist 5 жыл бұрын
Yes, it is possible, but we wouldn't recommend getting your tax advice from a KZfaq comment. If you'd like help from us, you can learn more here: www.nomadcapitalist.com/apply
@frantzl
@frantzl 3 жыл бұрын
Norway is pretty accurate if you`re a Nomad without a fixed place to live. If you have a job, a tax number and a lease in another country, Norway has a tax agreement with all or most developed countries. You have to report tax paid for 3 years though
@garycostello1492
@garycostello1492 6 жыл бұрын
ON THE MONEY
@DianaLuckysova
@DianaLuckysova 6 жыл бұрын
Great video. Quick question: If you live in Mexico, but cross the border to San Diego to work for an American company, can you actually be exempt from employer withholding taxes? The person has a lease in Mexico, but not a legal resident yet. There is no income in Mexico. I have heard there are ways to be exempt in US but if you could please confirm it would be greatly appreciated. Thank you for your time.
@nomadcapitalist
@nomadcapitalist 6 жыл бұрын
Hi Diana, thanks for commenting :) Here is how we can help: nomadcapitalist.com/shop/nomad-strategy-call/
@therevolution91
@therevolution91 6 жыл бұрын
Diana Luckysova Mostly, this is illegal. And people who think, that there are ways to avoid taxes get ripped off completely. I personally would just not recommend illegal ways....
@JacquesCouscous
@JacquesCouscous 7 жыл бұрын
Egypt, the country most known for 'food poisoning', due to lack of hygene. Good luck with that and thanks for the info.
@therevolution91
@therevolution91 6 жыл бұрын
JacquesCouscous I bet you already had a really hard infection!!! Right? Really heavy diarrhea! That is why you have that tic. 😆 🙌🏿 💩 💩 💩 "Phew... I have to act now serious again for KZfaqe with my 🤓." 😜
@YangSunWoo
@YangSunWoo 7 жыл бұрын
So how long do US citizens have to live outside of America to be exempt from tax?
@Francebound2024
@Francebound2024 5 жыл бұрын
You can file for Earned Income Exclusion Credit or Foreign Tax Credit. You never really exempt from filing a return as long as you earn above the threshold. If you are self-employed, that threshold is only $400 net income in the full year.
@guisepppe
@guisepppe 4 жыл бұрын
thx but i didnt understand all.is there a german version?
@usskelvinn
@usskelvinn 4 жыл бұрын
Hello there, thank you for your video 👍🏼 could you make video tutorial for setup the taxe residency in Indonesia ?
@nomadcapitalist
@nomadcapitalist 4 жыл бұрын
Thanks for the idea.
@usskelvinn
@usskelvinn 4 жыл бұрын
@@nomadcapitalist like proper step, the tax office to go, the forms we need and you can set up a business around that "like hiring people to do the process for the customer" Especialy for people like me who need to learn everything about tax residency transfert from europe to Thailand, Indonesia, Brunei ,Malaysia ....
@dmanakell
@dmanakell 5 жыл бұрын
I'm Colombian. I thought i didn't have to pay taxes on income coming overseas
@catchagrip1322
@catchagrip1322 3 жыл бұрын
Residents permit in a country that don't charge you income tax on money earned outside of the country. In many cases you'll have to prove the cash earned is coming from outside the country. While your country might try and do a tax inquiry, by having a cheap apartment rented, a bank account & residents card in another country you can be considered as a "Domicile" This is the correct term to use. Many countries recognize and have separate laws regarding this. Don't avoid the tax man, sooner or later they'll catch up with you.
@adisk1785
@adisk1785 5 жыл бұрын
I know i cant ask you too much cause your services are worth money bit could you shed light on a location independent online business operating from Australia, could it all be linked to a hong kong bank account & business PayPal and Hong kong merchant service then operated from anywhere without australian taxation office cracking down on me, Is it possible ?
@alexproca7442
@alexproca7442 4 жыл бұрын
Hello Can you explain how bitcoin investors can setup offshore somewhere in Europe? I live in Europe and I don’t want to pay shit loads of taxes, my government wants for starters 31% of my profits and that’s progressive up to 55%, now I can’t accept that... please please share with us how to avoid that robbery!
@nomadcapitalist
@nomadcapitalist 4 жыл бұрын
Hi Alex, feel free to email our team at help@nomadcapitalist.com.
@ZukunftBilden
@ZukunftBilden 6 жыл бұрын
Okay. Honestly. I'm just setting up a completly new online company. I'm from Germany. I am traveling for 2 years now most of the time. How do I move forward. Which country should I set up my residency. And where should I register the company?
@nomadcapitalist
@nomadcapitalist 6 жыл бұрын
Hi, thanks for your comment. Here is how you move forward: nomadcapitalist.com/shop/nomad-strategy-call/
@therevolution91
@therevolution91 6 жыл бұрын
Momo Maximilian Das ist übrigens nicht so einfach, wie es in der Theorie dargestellt wird. Ich hoffe, Du glaubst nicht jeden Super-Trend auf KZfaq...! Ich wohne momentan in der kostengünstigen Ukraine. Arbeitest Du bereits für jemanden online? Meistens ist es in der Praxis so, dass es eben nicht ganz so einfach ist, wie alles zuerst scheint. Wenn Du z. B. für eine Amerikanische Firma arbeiten willst, musst Du auch dort Wohnsitz haben & zwingend eine Steuerbescheinigung abgeben & logischerweise auch Steuern bezahlen. Das Gleiche mit Deutschland. Das heisst, Du arbeitest dann für diese Firma online, aber der Wohnsitz, die Nationalität & die Sprache sind meist zwingend ausschlaggebend, dass Du den Job, wenn überhaupt, bekommst. Falls Du so irre bist und wirklich auf Reisen gehst & Dir diese massiven Reiseauslagen selbst bezahlen willst, dann bist Du einer dieser Geisteskranken, die meinen, dass jeder businessman seine beruflichen Reiseauslagen selbst bezahlt, während er auf Geschäfts-Trip ist. Gleich verhält es sich mit einem Auto. Als "digital nomad" kannste natürlich gross angeben auf KZfaq. Was schliesst Du daraus?!? Genau....
@nurialco3684
@nurialco3684 5 жыл бұрын
Was für ein Unternehmen soll es denn sein? Es gibt viele Möglichkeiten. Hong Kong, Malaysia, Singapur......die Liste ist lang. Du könntest ein Unternehmen in Hong Kong gründen und in Malaysia leben zB......Was genau möchtest du machen und was ist dir wichtig?
@carefulconsumer8682
@carefulconsumer8682 3 жыл бұрын
Obama passed FATCA so now Americans have to declare assets, bank accounts, real estate, etc to the IRS no matter where they are located. So if you own a condo in New Zealand, for example, you have to declare that to the IRS if you are an American citizen on one of those forms. That's what I read but get a CPA for professional advice on what forms you need to fill out.
@tryirish
@tryirish 6 жыл бұрын
If I declare myself non resident. And just go travelling in many countries doing part time work for 2 years...will that be accepted. Irishman
@therevolution91
@therevolution91 6 жыл бұрын
Gary Phelan In Ukraine for example it is not legal to work without a residency. (I am from Switzerland) They simply will deport you.
@asterisk911
@asterisk911 5 жыл бұрын
1:00 and forward: "as long as they hold a US passport". I know you're just trying to change up your language so it's less boring, but one's US tax obligation is entirely unrelated to whether one holds a US passport. LOTS of US citizens overseas do not hold a US passport-- some used to hold one but don't any longer, and some NEVER had one (e.g., some "accidental Americans"). But US citizens' requirement to pay taxes is not in ANY way altered by whether or not they hold a US passport. (By the way, that's not just for US citizens overseas. Tens of millions of homeland American citizens do not have a US passport, and-- again-- that has no bearing on whether they owe taxes).
@ddillard143
@ddillard143 5 жыл бұрын
When he says hold a US passport or any other country's passport he means being a citizen of that country. For instance if I have a French passport that means I'm a citizen of France. I'm not a citizen of the US with a French passport. You could only get a passport if you are a citizen of that country. And if you are a citizen of the US you have to pay us taxes. I hope that clears it up for you
@asterisk911
@asterisk911 5 жыл бұрын
@@ddillard143 It would be impossible for you to "clear it up" because it was never unclear to me. I know what he means, and I know what he said, and they aren't the same thing. That's my whole point.
@ddillard143
@ddillard143 5 жыл бұрын
@@asterisk911 it sounded like you was taking it literal that a person had to hold a passport to pay taxes. But we know not everybody in the US has a passport. But if they have a job or business they are required to file taxes
@asterisk911
@asterisk911 5 жыл бұрын
Yeah, that was MY point: Andrew said a person has to pay taxes as long as he holds the US passport. But one’s US tax obligation does NOT depend upon whether one holds a US passport. That’s true of overseas Americans as well as homeland Americans.
@ddillard143
@ddillard143 5 жыл бұрын
@@asterisk911 see that's where the disconnect is. You are correct. And he wouldn't disagree with you either. You have to watch more his videos to understand when he says US Passport holder he only means US citizen. He doesn't technically mean you have to have a US passport. He says that about any country when he says you hold it a passport. Because his videos are about only multiple passports AKA citizenships. He's talking to people that leave the country. That's what he means by nomad
@improver1849
@improver1849 7 жыл бұрын
Under the Queen's commonwealth, you obviously have a lot of options. Changing domicile, etc. But I've never heard of this for US Citizens. I even (painfully) read the code a few years ago. Since when do factors like time out of the country count for the US? In fact, isn't that the whole problem with how broadly the US implemented CBT? It's so far reaching and vague. Or do you have legitimate strategies around it? Sometimes it seems the only service taxes pay for in the US is the collection of them. Unless you're indigent or disabled, it's not exactly a service filled country. Ironically, I actually am legitimately disabled in a way that would be meaningful if I wasn't a value producer. Haha. You really have to be someone of who goes out of their way to be no value to society to benefit from the American society. Kind of bizarre, really. Who thinks this crap up? :)
@MgtowRubicon
@MgtowRubicon 5 жыл бұрын
Marxists think it up.
@sebastianpayancristancho5027
@sebastianpayancristancho5027 Жыл бұрын
Where could we open a bank account to avoid any of those governments of putting their hands in our pockets?
@gwho
@gwho 3 жыл бұрын
Tip for more engaging videos: Cut the fluff.
@matyiii
@matyiii 6 жыл бұрын
That wink though haha
@CanadaBlue85
@CanadaBlue85 6 жыл бұрын
I can't believe people just assume they don't have to pay tax, a quick google search would've saved them world of trouble!
@mobileandroid5299
@mobileandroid5299 4 жыл бұрын
Never had that problem. Haven't pay taxes since 1991 and nobody asks. If anyone tries then it's their life is on the line. Once you start killing them, they look for a better option :)
@himpoet
@himpoet 2 жыл бұрын
It’s a reasonable misinterpretation of a law that claims you don’t have to if you spend less than 183 days in the country while you often do despite spending less than 183 days in the country.
@badgoy7875
@badgoy7875 2 жыл бұрын
@@mobileandroid5299 Can you share information how you do it. Or some resources or books? I am 19 and I think of nomad no tax lifestyle as web developer
@terencewinters2154
@terencewinters2154 3 жыл бұрын
Lol " location independent " ie no loyalties.
@amenostalgique
@amenostalgique 5 жыл бұрын
ill put all my money in crypto and try to make me pay any tax, good luck.
@atlskyline1
@atlskyline1 5 жыл бұрын
Problem is when you cash out to buy things IRS will see those transactions on your bank statement.
@bomanierasto7651
@bomanierasto7651 4 жыл бұрын
Largest holder of cryptocurrency USA government. They repo and hold but can't spend without key. However you can't spend either.
@ahmadizzatshahmieralhamdul4926
@ahmadizzatshahmieralhamdul4926 5 жыл бұрын
Alhamdulillah :)
@Hanna5859
@Hanna5859 6 жыл бұрын
don't want to pay taxes? stay poor, own nothing.
@splint3048
@splint3048 6 жыл бұрын
Either that or be filthy rich with top legal and financial advisers.
@37tara
@37tara 5 жыл бұрын
Filthy rich is best of all !!
@mobileandroid5299
@mobileandroid5299 4 жыл бұрын
Don't call attention to yourself. I haven't filed or paid taxes since 1991. As long as you keep quiet, nobody will bother you.
@Marekvanbeek
@Marekvanbeek 4 жыл бұрын
Doesn't sound very motivating. It sounds more like fear mongering
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