Here are the questions addressed in today’s episode:
– Taxes in Belize
“We are planning a move out of the United States, possibly to Belize. Our retirement will come from pension plans in the United States. If we receive our checks in Belize, we understand that we still will have to pay federal taxes. However, there is no domicile state that can collect taxes. So doesn’t that amount to a tax break? Or am I missing something?” – Mike B.
– Social Security penalties…
“Isn’t there a Social Security penalty for retiring overseas? Many in my wife’s family believe so. They say they would get only two-thirds or three-fourths of their checks if the Social Security Administration knew they retired to Mexico.” – Jeff F.
– Overseas taxes
“Kathleen, thank you for all of your information. I love reading your dispatches and also am enjoying your podcasts.
I know that some income earned overseas can be excluded from my U.S. tax return, but what about an Internet business where income is derived from many different countries?
In other words, if we move to Panama to run our business, is the income excluded regardless where it comes from, even if it comes from the United States.” – Gary C.
– And quite simply…
“If I move overseas, could I ever return to the United States?” – Mark T.
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