10 minutes ago, Diehardfan said:

Bigfoot has them

he has them right next to all of the tens of thousands of dead birds that were piled up under all of the windmills?

diehard training for his lifelong fight against logic & facts.

$10 this song is on every playlist that diehard has.

45 minutes ago, DrPhilly said:

Got it. PM me if you want to discuss expat life, taxes, citizenship, etc.

Did you ever renounce citizenship?

I know the US is one of the only (maybe the only?) country that taxes its citizens even when they reside abroad - which is crazy to me considering we fought a revolution over taxes. but if I did that I'd also be surrendering social security, which I shouldn't need but I also don't necessarily want to just give up some walking around money.

4 hours ago, JohnSnowsHair said:

I like Porto on paper, but I'd really want to visit the expat communities and dig in to the realities of living as an expat. This would likely be something we consider closer to retirement age, which is 20ish years away, and would be a huge change. Tax implications and all that I have zero clue about, and I'd want to weigh surrendering my US citizenship.

At this stage it's mostly just talk and early information gathering, but I don't want to be flat-footed if this deekhead succeeds in turning us into a failed state like Russia.

#1 - you're a reactionary kook if you're leaving because of that

#2 - there are some great spots in Portugal and I know some people over there - if you're seriously interested, PM me and I'll see if I can get you in touch with them

4 minutes ago, JohnSnowsHair said:

Did you ever renounce citizenship?

I know the US is one of the only (maybe the only?) country that taxes its citizens even when they reside abroad - which is crazy to me considering we fought a revolution over taxes. but if I did that I'd also be surrendering social security, which I shouldn't need but I also don't necessarily want to just give up some walking around money.

No, I am still a US citizen. However, I know a few people that did renounce and in particular one of my close friends. He did that due to tax reporting issues for companies he owned. Owning companies and also owning mutual funds are a big issue in the reporting administration requirements for expats. Normal stock ownership is fine as is basic income from employment or dividends/interest.

While you still have to declare every year most western countries have a reciprocal agreement with the US so you won't be double taxed on anything. Portugal has just such a treaty with the US. Also, you get around $120k of foreign earned income tax free before the US taxes even kick in. You'd have to look closer at the Portuguese tax rates to see how those would compare to US rates. As for Sweden where I am, the rates are higher than the US plus I get the $120k start tax free in the US so I never owe anything in the US outside of things like inheritance tax.

As for Soc Security, you are still eligible as long as you qualify under the normal rules. You won't lost any of it according to the current rules. Hopefully Trump doesn't try to change that. Kind of hard to force expats to declare every year and also strip their Soc Security rights but who knows what they'll come up with.

There are a few things to consider like trusts, US property, etc. that can be an issue depending on where you would move. For example, the concept of a Trust doesn't exist in Sweden so distributions count as normal income there. You'd need to check with Portugal tax law on specific things should you have things like rental income on US property, US trust distribution, etc. If you are just getting dividends/interest, retirement payouts, etc. then there wouldn't be much to worry about though you might pay more in Portugal than in the US.

40 minutes ago, Alpha_TATEr said:

$10 this song is on every playlist that diehard has.

I actually love that song.

lol stupid is as stupid does

35 minutes ago, Procus said:

#1 - you're a reactionary kook if you're leaving because of that

Didn't you just post a page ago about a 3rd term for Trump? If Trump goes for a third term and turns armed military on anyone who protests about it... yeah I'm out too.

1 hour ago, Procus said:

#1 - you're a reactionary kook if you're leaving because of that

#2 - there are some great spots in Portugal and I know some people over there - if you're seriously interested, PM me and I'll see if I can get you in touch with them

i doubt he wants to talk to any european pedos.

TheWrap

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President Trump revealed himself as host of this year's Kennedy Center honors, but complained about not being among the honorees.

1 hour ago, The_Omega said:

lol stupid is as stupid does

Yep, the argument should be on the side of the overreach of the federal govt and the use of troops for basic law enforcement work. That's where the optics are positive for the Dems. But they are usually pretty stupid when it comes to those sorts of things and this one looks no different, so far.

1 hour ago, Procus said:

#1 - you're a reactionary kook if you're leaving because of that

#2 - there are some great spots in Portugal and I know some people over there - if you're seriously interested, PM me and I'll see if I can get you in touch with them

nah, I'm good.

1 hour ago, DrPhilly said:

No, I am still a US citizen. However, I know a few people that did renounce and in particular one of my close friends. He did that due to tax reporting issues for companies he owned. Owning companies and also owning mutual funds are a big issue in the reporting administration requirements for expats. Normal stock ownership is fine as is basic income from employment or dividends/interest.

While you still have to declare every year most western countries have a reciprocal agreement with the US so you won't be double taxed on anything. Portugal has just such a treaty with the US. Also, you get around $120k of foreign earned income tax free before the US taxes even kick in. You'd have to look closer at the Portuguese tax rates to see how those would compare to US rates. As for Sweden where I am, the rates are higher than the US plus I get the $120k start tax free in the US so I never owe anything in the US outside of things like inheritance tax.

As for Soc Security, you are still eligible as long as you qualify under the normal rules. You won't lost any of it according to the current rules. Hopefully Trump doesn't try to change that. Kind of hard to force expats to declare every year and also strip their Soc Security rights but who knows what they'll come up with.

There are a few things to consider like trusts, US property, etc. that can be an issue depending on where you would move. For example, the concept of a Trust doesn't exist in Sweden so distributions count as normal income there. You'd need to check with Portugal tax law on specific things should you have things like rental income on US property, US trust distribution, etc. If you are just getting dividends/interest, retirement payouts, etc. then there wouldn't be much to worry about though you might pay more in Portugal than in the US.

I'd prefer to retain my rentals but I figure we'd sell my primary residence if we did this.

So up to $120k earned outside the US is tax free? At that point we'd be living off our retirement and whatever remote consulting I'd care to do. I'd suspect, assuming our costs of living are not too extravagant, that we would be minimally impacted. The passive income from rentals would be the concern.

Just now, JohnSnowsHair said:

I'd prefer to retain my rentals but I figure we'd sell my primary residence if we did this.

So up to $120k earned outside the US is tax free? At that point we'd be living off our retirement and whatever remote consulting I'd care to do. I'd suspect, assuming our costs of living are not too extravagant, that we would be minimally impacted. The passive income from rentals would be the concern.

Yeah, you can earn about 120k per year under the foreign earned income exemption rule. Note: the actual amount moves with inflation for each year so it will be slightly more now as the 120 was for the 2023 tax year.

You can keep the rentals but Portugal may tax that income and it may be at a rate higher than what you'd be taxed if you lived in the US and just paid the US tax on the income. You need to check that out as you'd pay the higher amount whichever it is between the two (not more, so not doubled but it will be the higher rate of the two). You should also check out the tax situation for selling a property as that may be different as well. Might be worth it to sell it before you would change residency. Those are the types of details you'd want to look into.

37 minutes ago, DrPhilly said:

Yep, the argument should be on the side of the overreach of the federal govt and the use of troops for basic law enforcement work. That's where the optics are positive for the Dems. But they are usually pretty stupid when it comes to those sorts of things and this one looks no different, so far.

What do you think about your (loosely speaking) PM admitting ChatGPT is one of his top advisors?

4 minutes ago, The_Omega said:

What do you think about your (loosely speaking) PM admitting ChatGPT is one of his top advisors?

Does ChatGPT know which country Alaska belongs to?

6 minutes ago, The_Omega said:

What do you think about your (loosely speaking) PM admitting ChatGPT is one of his top advisors?

I think it is positive to use ChatGPT as a source of info but I don't like the idea of it being a "top advisor". However, I'm far more comfortable with my PM using ChatGPT than I am with my President using the likes of Laura Loomer to provide key input in his decision making.

1 minute ago, DrPhilly said:

I think it is positive to use ChatGPT as a source of info but I don't like the idea of it being a "top advisor". However, I'm far more comfortable with my PM using ChatGPT than I am with my President using the likes of Laura Loomer to provide key input in his decision making.

oooooh, you just insulted meg & procus' top advisor!!!!!!

4 hours ago, Alpha_TATEr said:

he has them right next to all of the tens of thousands of dead birds that were piled up under all of the windmills?

Went by those again yesterday and didn't see either. Judging by all the shirts I saw he lives in Estes Park, CO. Probably kept at the Stanley Hotel in room 217.

@Gannan How are the Boolean searches going on the made up crap you thought I said?

1 hour ago, DrPhilly said:

I think it is positive to use ChatGPT as a source of info but I don't like the idea of it being a "top advisor". However, I'm far more comfortable with my PM using ChatGPT than I am with my President using the likes of Laura Loomer to provide key input in his decision making.

I'm not comfortable with either.

Im waiting to see the tweet storm about how/why the extradition of the 26 high ranking cartel members is a terrible horrible thing.