You Should Know
YSK - for all the things that can make your life easier!
The rules for posting and commenting, besides the rules defined here for lemmy.world, are as follows:
Rules (interactive)
Rule 1- All posts must begin with YSK.
All posts must begin with YSK. If you're a Mastodon user, then include YSK after @youshouldknow. This is a community to share tips and tricks that will help you improve your life.
Rule 2- Your post body text must include the reason "Why" YSK:
**In your post's text body, you must include the reason "Why" YSK: It’s helpful for readability, and informs readers about the importance of the content. **
Rule 3- Do not seek mental, medical and professional help here.
Do not seek mental, medical and professional help here. Breaking this rule will not get you or your post removed, but it will put you at risk, and possibly in danger.
Rule 4- No self promotion or upvote-farming of any kind.
That's it.
Rule 5- No baiting or sealioning or promoting an agenda.
Posts and comments which, instead of being of an innocuous nature, are specifically intended (based on reports and in the opinion of our crack moderation team) to bait users into ideological wars on charged political topics will be removed and the authors warned - or banned - depending on severity.
Rule 6- Regarding non-YSK posts.
Provided it is about the community itself, you may post non-YSK posts using the [META] tag on your post title.
Rule 7- You can't harass or disturb other members.
If you harass or discriminate against any individual member, you will be removed.
If you are a member, sympathizer or a resemblant of a movement that is known to largely hate, mock, discriminate against, and/or want to take lives of a group of people and you were provably vocal about your hate, then you will be banned on sight.
For further explanation, clarification and feedback about this rule, you may follow this link.
Rule 8- All comments should try to stay relevant to their parent content.
Rule 9- Reposts from other platforms are not allowed.
Let everyone have their own content.
Rule 10- The majority of bots aren't allowed to participate here.
Unless included in our Whitelist for Bots, your bot will not be allowed to participate in this community. To have your bot whitelisted, please contact the moderators for a short review.
Partnered Communities:
You can view our partnered communities list by following this link. To partner with our community and be included, you are free to message the moderators or comment on a pinned post.
Community Moderation
For inquiry on becoming a moderator of this community, you may comment on the pinned post of the time, or simply shoot a message to the current moderators.
Credits
Our icon(masterpiece) was made by @clen15!
view the rest of the comments
But if you earn over the threshold, you're expected to pay taxes to the US government, no matter where you're actually living or working, no matter if you're also paying taxes wherever you currently are. The US is the only country in the world to assert that it has the right to tax its citizens remotely in this manner. It's not normal.
The US has double taxation treaties with over 60 countries. When you pay taxes somewhere else, you deduct all of that tax from your US taxes above the $125k.
Though I definitely agree the IRS shouldn't need these treaties, because if you're not living there, why should you even need to file?
Because US law says so lol
Y'all just now learning that laws are written for the benefit of the ruling regime, not the peasants.
It’s Navy SEAL protection money.
They also charge you a crazy exit tax if you want to give up citizenship in order to save on taxes. They always get their pound of flesh.
Which is absolutely wild to me, considering that all natively born citizens received their citizenship involuntarily at birth.
poli scie 101... they have the monopoly on violence
That's actually libertarian idiot 101, different class, held in the garage of a disheveled rancher flying a gadsden flag.
the state has monopoly on violence...
It does not
go do some against a "nazi", plz report back the results 🤡
WTF are you even talking about?
You suggested that state doesn't have a monopoly on violence.
What are you basing that position on?
Ever heard of the castle doctrine?
That's just one example. Maybe next time you attend libertarian idiot 101 you should do it with a bit of skepticism instead of immediately accepting everything they say without evidence.
https://en.m.wikipedia.org/wiki/Breonna_Taylor
In no way does that link prove that the state has a monopoly on violence. Are we just pasting random Wikipedia articles and pretending that's an argument now?
Anyone who throws out clown emojis is a clown themselves.
It’s the internet rule 42069.
Living in a clown world!
Life's fantastic when everything has micro plastic
I’m sorry I’m too dumb to understand this.
Can you explain it a bit better?
Modern life is a circus and we are all just clowns in it!
No, not all of us.
Just the trump voters and anyone who sat the election out.
Because they’re as bad.
Good.
"over the threshold, you're expected to pay taxes"
sort of, that's the "up to 125k" limit part of the FEIE(readjusted for inflation every year).
you still don't pay taxes on the first 125k.
earning more than 125k is not a problem most people have.
The problem most people have is not knowing that the feie exists in the first place and there are legal, straightforward ways to avoid paying income tax while saving money traveling.
"no matter if you're also paying taxes wherever you currently are..."
this is very iffy and depends on a lot of factors.
again, for most regular people, foreign income tax credits will erase most financial duties to the US.
"The US is the only country in the world..."
nearly.
"It's not normal."
nope, it's definitely weird and it sucks.
but at least there's the FEIE.
Double taxation treaties are very common. What I've been told by US coworkers makes the US stand out is that you still need to file your taxes with the IRS, even when living abroad. No idea if that's actually the case.
I have lived outside my native country for a while and only had to file taxes in my country of residence (neither of which is the US), because there's a DTAA in place between the two.
Add that to the list
It’s not the only country. I’ve lived in another country that was just like that. I bet other countries have the same rule to avoid some tax loophole. Or just because they can.
That said, if you’re making over 100k trumps tax cuts will probably be pretty nice for you.
Not if you live in a state with state and local income tax. They capped SALT deductions, so you’re basically paying tax on taxed income.
But if you live overseas you in fact do not live in a state.
Some states still require you to file even if you don’t live there, but have ties, and may tax your income.
Further, not doing so could impact things like voter registration depending upon the state. The whole system of US voting is a mess since it's all at the state level.
can you define ties? Because I don't see how if I move from state A to state B that they will take income I earn while living in state B.
You own property in the state, or consider it your primary residence, you have income from business or investments in the state.
It really varies state by state.
Well, it is on them to find me and this income.