Question about taxes

Over 25 million Italians have emigrated between 1861 and 1960 with a migration boom between 1871 and 1915 when over 13,5 million emigrants left the country for European and overseas destinations.
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DeFilippis78
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Question about taxes

Postby DeFilippis78 » 19 Jan 2010, 04:01

If I can acquire citizenship but stay in America for years, do I pay taxes to Italy or only if I live there. I am looking into citizenship because I plan on doing alot of traveling and spending alot of time in Europe but not for many years. So I was wondering if I had to pay them anything even if Im still in the US

Alicia

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teddi
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Re: Question about taxes

Postby teddi » 19 Jan 2010, 08:17

No, if you are living in the US and your income is from the US, and you pay US taxes on your income, you do not pay need to pay Italian taxes.

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Re: Question about taxes

Postby DeFilippis78 » 19 Jan 2010, 13:44

Thank you! Im glad I clarified that.

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corrado
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Re: Question about taxes

Postby corrado » 19 Jan 2010, 14:54

The us is the only country in the world that taxes it's nationals no matter where they live. That is why some rich people renounce their amerikan citizenship.

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DeFilippis78
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Re: Question about taxes

Postby DeFilippis78 » 19 Jan 2010, 15:11

Oh...so if I live in Italy , I still pay taxes to America? What nerve :x

Alicia

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Mulé
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Re: Question about taxes

Postby Mulé » 19 Jan 2010, 15:24

corrado wrote:The us is the only country in the world that taxes it's nationals no matter where they live. That is why some rich people renounce their amerikan citizenship.
I believe Brazil also taxes their people on world wide income, no matter where they live, or at least that is my understanding. Please correct me if I am wrong.

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johnnyonthespot
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Re: Question about taxes

Postby johnnyonthespot » 19 Jan 2010, 16:44

DeFilippis78 wrote:Oh...so if I live in Italy , I still pay taxes to America? What nerve :x

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But you get credit for any taxes paid to a foreign government on the first approximately $85,000 of income (I forget the exact number). See this IRS web page.
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DeFilippis78
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Re: Question about taxes

Postby DeFilippis78 » 19 Jan 2010, 16:55

But I dont have to worry about this unless I live there right?

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leash
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Re: Question about taxes

Postby leash » 24 Jan 2010, 08:46

Does anyone know if Australia is the same? If I live over there do I have to pay raxes here?
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johnnyonthespot
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Re: Question about taxes

Postby johnnyonthespot » 24 Jan 2010, 12:42

Certainly such an important question should be directed to the one place where an official answer can be provided - the Australian Tax Office, and, in particular, Foreign income of Australian residents - overview.
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Steverino3006
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Re: Question about taxes

Postby Steverino3006 » 24 Jan 2010, 21:28

Mulé wrote:
corrado wrote:The us is the only country in the world that taxes it's nationals no matter where they live. That is why some rich people renounce their amerikan citizenship.
I believe Brazil also taxes their people on world wide income, no matter where they live, or at least that is my understanding. Please correct me if I am wrong.


Mexico too, I think.


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