On 20/11/2011 11:20 AM, North Star wrote:
On Nov 20, 1:40 pm, wrote:
On 20/11/2011 4:31 AM, bpuharic wrote:





On Sat, 19 Nov 2011 23:23:17 -0700,
wrote:

On 19/11/2011 8:08 PM, bpuharic wrote:
On Sat, 19 Nov 2011 17:05:51 -0700,
wrote:

On 19/11/2011 3:34 PM, bpuharic wrote:
On Sat, 19 Nov 2011 13:30:09 -0700,
wrote:

Funny, I came from a single mother and 4 kids poor.

you live in canada. we're talking ab out the US.

canada has a social welfare system. the US has socialism for the rich

I worked both sides of the border, and in just 10 years in the USA I
more than doubled my net worth. Significantly actually.

which is why you live in canada

uh huh

You lazy fleabaggers have it better than you know.

says the guy who lives in 'socialist' canada

while complaining about socialism

Not at all, I go where the money is. I had some investments up here
that needed attention and some others that looked pretty good and turned
out fantastic, and we were tired of INS bull**** anti-white-educated
bull****. Freaking lawyer wanted $25K, that is bribery for filing a few
forms and so drunk he couldn't spell my name right.

So I balked. Actually worked out well that the INS screwed me around as
my dad was a US citizen with back taxes owing. Which is why I got
screwed around. Because I never had a green card, USA taxes end when I
left.

You should see the hell IRS is dishing out to Americans in Canada, many
are dumping their US citizenship as it is quickly becoming a liability.

I may have more tax liberty in this area than you do. If I move to some
other country, I cease any tax obligations in Canada once I can show the
new country as my home. You on the other hand are property of the US
Government no mater where you go.
--
The reason government can't fix the economic problems as government is
the problem.- Hide quoted text -

- Show quoted text -

Used to be that you had to get rid of all your Canadian sources of
income if you want to avoid Canadian federal& provincial income
taxes.
I had a supervisor who did this in the mid 90's. She ran away to a
Carribean island for a new life.
Too bad... she was one hot lady.

Not entirely correct but close. You will always pay taxes on Canadian
income no mater how you cut it.

However, if your residence and tax home is truly abroad, you are a full
time resident in another country including home, drivers license, health
care, schooling, etc..., and you declare that country as your tax home,
then you do not need to file Canadian income taxes on income from your
new home country.

However if you leave your family in Canada, or have a residence here,
you file on the world wide income, including employment taxes. But you
do get credit for foreign taxes paid, but end up with the higher rate of
taxation of the two -- which is usually Canada.

The trick is to break residential ties with Canada and pay taxes in your
home country. And if she has investments or savings in Canada, she pays
Canadian taxes on them as a foreign investor would, and then potentially
taxes in the tax home country to their rules.

For example, Costa Rica doesn't tax penionados on their foreign income
coming into Costa Rica from abroad, only local earnings are subject to
their tax. So you get a Canadian pension, you pay Canadian taxes, you
then are free to spend it in Costa Rica and Costa Rica doesn't need you
to declare it. 80,000 Canadian retirees in Costa Rica. Lost of
American do this too. $300K in investment or real estate or some
$3000/mo pension income and they let you in.

Lots do it. Sure beats shoveling snow in -35 in January. We are
considering it.
--
All successful people have one thing in common, if even for a moment
they think rationally.