Donald Trump’s New Tax Promise: Eliminating Income Taxes for Americans Abroad

[Danderman123]

22 hours ago, Guitar God said:

If  I pay taxes in Thailand I just enter the amount on line 8 of IRS form 1116 and deduct that amount from my U.S. taxes owed.
There's no double taxation.
He's making a campaign promise to fix a problem that doesn't even exist.
Expats in Thighland aren't interested in what you're peddling DonOld.

There are some US citizens living in countries where there is no DTA.

[timendres]

16 hours ago, Danderman123 said:

It's the other way around, the US gets the first grab of your money for US income.

 

In my case, I was able to "exempt" the first $100k of income in Thailand.

I was able to use the exemption because I earned the money in Thailand and paid Thai income taxes on that income.

Since my income was not even close to the exemption, I never owed US taxes.

[riclag]

On 10/11/2024 at 4:59 PM, proton said:

 

He would have finished it if not for congress dragging their feet releasing the funds. Luckily he will be able to start work on it again next year and stop illegals just walking in.

Imagine the cost savings!

no tax on senior social security!

our tax money not being used to support radical leftest & war monger causes.

150 billion that goes to illegals 

200 billion protecting Ukraine

 

 

https://www.foxnews.com/politics/us-leads-rest-of-the-world-196-billion-ukraine-war-russia

 

https://www.foxnews.com/politics/illegal-immigration-costs-us-taxpayers-151-billion-year-study-finds

 

 

 

[0ffshore360]

On 10/11/2024 at 12:09 PM, scorecard said:

 

Antarctica on a one way ticket would be good. 

Hell  no ! All his hot air will accelerate the ice melt !

[0ffshore360]

If US  zits are tax exempt in the US then the Thai Tax Dept will rejoice temporarily.

I suggest temporarily  because those with US income from whatever source will be victim to "tariffs"  instead ?