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Thanks to Twinzor for his attempt to introduce some sanity here. remainder of post removed so as to avoid any risk of offending forum members.
Maravilla: We have already reported our foreign corporation via the form that was helpfully discussed this month on this forum. We report our income from all sources now and will do so in the future. So if, in fact, we are complying with the laws as we always have…how exactly do you see us as “going to the slammer”?
The U.S. didn’t drive up to this financial meltdown because of people like us…..we are in the toilet because so many of our large financial institutions acted with reckless greed in an almost completed deregulated market.
Most of the wealth in the United States now resides in the top 1.5% of the population. I think that some legislative attention is finally being directed at these issues.
The US gov has no right to be in my personal business in CR. Has anyone heard of taxation without representation. Why should i pay them greedy bastards 30% of the peanuts that i will make after i sell a house that i kicked my ass in the dirt to build. What happened to days of reporting any income in a foreign land over $75K. ” I getting tired of all this crying of our loss of freedom “… Its sheeple like you that let it happen. I hope you are doing good with your pension that was started a long time ago when times were good. Some of us are not going to get anything when were old so we have to protect what we got and what we will get.
sue — on that form that gets filed with the US Treasury there is a section in little tiny print that says the penalties for NOT filing that form are up to $500,000 in fines and/or 5 years imprisonment. so it doesn’t apply to you if you’ve been compliant, but for all the others who want to scoff at the law, well, we all know how they love to make examples out of the little guy. watch the movie “Capitalism” and you get a pretty goood idea how the deregs of the 80’s set in motion all the chaos we are experiencing now. we decided we might sell our house in Colorado this year. 4 years ago the appraisal was $265,000; this morning the RE agent said maybe we could get half of that. it’s hard not to think they they deliberately wiped out the little guy; oh, well, i am still better off than most people but the US is going to hell in a handbasket, and i don’t want to go along for the ride.
the US is the only country that taxes you no matter where you live in the world. just that is a scary thought.
Kimball:
I have been building/remodeling real estate over the years in the U.S. and have always been happy to pay my taxes on these transactions. As my accountant once wisely stated “You wouldn’t be paying taxes if you weren’t turning a profit”. I always considered the taxes, even when I was paying short-term rates as a simple cost of doing business. If I build a house in Costa Rica and sell it later AND pay taxes, I will have made a profit and yay for me.
Further, the exemption on income made in foreign countries is still in place….but that is on wage income, not on capitol gains. I am not sure if the tax exemption for the sale of a primary residence after two years holds for a residence out of the country, but I am guessing it does.
We are not moving to Costa Rica to avoid being a U.S. citizen and will continue to support our country with our voting and our tax contributions.
I am not moving to Costa Rica to “get away” from the U.S.
Thanks JDOCOP,
You are the only expat that makes any sense.
What are the rest of you going to do about it? Write to your Congressman? That really works! You want to blame the present government, but this problem has been going on since you were were born. All of you knew this and that is why you moved to Costa Rica or are planning on moving there. Everyone who lives in the USA is in the same boat or worst. You should all feel blessed that you are able to live in Costa Rica or have the finances to be able to move there. Make the best of it!
DRT[quote=”sueandchris”]Kimball:
I have been building/remodeling real estate over the years in the U.S. and have always been happy to pay my taxes on these transactions. As my accountant once wisely stated “You wouldn’t be paying taxes if you weren’t turning a profit”. I always considered the taxes, even when I was paying short-term rates as a simple cost of doing business. If I build a house in Costa Rica and sell it later AND pay taxes, I will have made a profit and yay for me.
Further, the exemption on income made in foreign countries is still in place….but that is on wage income, not on capitol gains. I am not sure if the tax exemption for the sale of a primary residence after two years holds for a residence out of the country, but I am guessing it does.
We are not moving to Costa Rica to avoid being a U.S. citizen and will continue to support our country with our voting and our tax contributions.
I am not moving to Costa Rica to “get away” from the U.S.[/quote]
Dont tell me about your taxes. I paid 70K in fed taxes alone last year. But at least i can somewhat reap the rewards of those taxes in good roads, schools etc.. What is the US gov doing for me in CR ? Nothing.
Im not running from anything…. I just want them off my back. If i turn a profit in CR then the CR gov should get my bread. Period.
[quote=”maravilla”]sue — on that form that gets filed with the US Treasury there is a section in little tiny print that says the penalties for NOT filing that form are up to $500,000 in fines and/or 5 years imprisonment. so it doesn’t apply to you if you’ve been compliant, but for all the others who want to scoff at the law, well, we all know how they love to make examples out of the little guy. watch the movie “Capitalism” and you get a pretty goood idea how the deregs of the 80’s set in motion all the chaos we are experiencing now. we decided we might sell our house in Colorado this year. 4 years ago the appraisal was $265,000; this morning the RE agent said maybe we could get half of that. it’s hard not to think they they deliberately wiped out the little guy; oh, well, i am still better off than most people but the US is going to hell in a handbasket, and i don’t want to go along for the ride.
the US is the only country that taxes you no matter where you live in the world. just that is a scary thought.[/quote]
You want to find fault with capitalism for some strange reason. I would be willing to bet that most people that made a decent living in the US owe it to capitalism. You should talk to someone that grew up in a communist society and see how they liked it.
[quote=”kimball”][quote=”maravilla”]sue — on that form that gets filed with the US Treasury there is a section in little tiny print that says the penalties for NOT filing that form are up to $500,000 in fines and/or 5 years imprisonment. so it doesn’t apply to you if you’ve been compliant, but for all the others who want to scoff at the law, well, we all know how they love to make examples out of the little guy. watch the movie “Capitalism” and you get a pretty goood idea how the deregs of the 80’s set in motion all the chaos we are experiencing now. we decided we might sell our house in Colorado this year. 4 years ago the appraisal was $265,000; this morning the RE agent said maybe we could get half of that. it’s hard not to think they they deliberately wiped out the little guy; oh, well, i am still better off than most people but the US is going to hell in a handbasket, and i don’t want to go along for the ride.
the US is the only country that taxes you no matter where you live in the world. just that is a scary thought.[/quote]
You want to find fault with capitalism for some strange reason. I would be willing to bet that most people that made a decent living in the US owe it to capitalism. [b]You should talk to someone that grew up in a communist society and see how they liked it.[/b][/quote]
Wait a few years and you’ll be able to ask an Amerikan Comrade about this….May I see your PAPERS, please.
[quote=”maravilla”]hahahaha — that’s funny. will we have to goosestep too?[/quote]
GAWD, I HOPE not, but I’ve seen this kind of thing before…I’m sure Scott has too.
And anyone who is a student of History will tell you that we are SCREAMING down the path toward just that kind of thing.
…And ANYONE with their eyes open and doesn’t have Communist/Socialist leanings will NOT act as an apologist for what is going on in the US. There is NOTHING about this that is OK, and as for the assertion that we HAD the opportunity to have a say-so in this….WAKE TF up.
…We had the Health Care Obamanation shoved down our throats IN SPITE OF a massive rejection by the public.
It is CLEAR that “We the People” no longer matter and are just in the way of the “NWO” agenda being enacted upon us every day.This is just going to get worse folks, trust me on this.
Even Daddy Bush said we were marching toward a NWO. said it right there on TV — was it before or after he puked on the emperor of japan???? hahahah alot of it started in the Cowboy era of RR, when he let Merrill Lynch stick their greedy little fingers in the business of polcymaking. oh, yes, we’ve been getting a screwing for a long time, only this time they’ve put sand in the vaseline.
[quote=”kimball”][quote=”sueandchris”]Kimball:
Dont tell me about your taxes. I paid 70K in fed taxes alone last year. But at least i can somewhat reap the rewards of those taxes in good roads, schools etc.. What is the US gov doing for me in CR ? Nothing.
Im not running from anything…. I just want them off my back. If i turn a profit in CR then the CR gov should get my bread. Period.[/quote]
Well Said!
If you already paid your taxes, why should the US government get another 30% because you chose to move it out of the country? Well lets do the math, for those of you in the high tax bracket….(of course these are rough estimates)Federal 36%, State and local 10%, Sales tax, capital gains tax, impact tax, they even tax our dogs here (its called a pet tax). Add it up and your paying over 50% tax and now they want another 30%. Yeah, I be in line to pay that one. Many times there are legal loop holes with laws like this, of course we will try to find one. My motto is: Let the other guy pay for that new Navy Nuclear sub.
Of course as with any discussion there are those that will swim with the flow, and those that will swim against the flow. Independent thinkers might find they are swimming more often against the flow. I guess the goal at the end of the day is not to drown in the flow or you may actually see that Navy Sub you just bought.
[quote=”maravilla”]Even Daddy Bush said we were marching toward a NWO. said it right there on TV — was it before or after he puked on the emperor of japan???? hahahah alot of it started in the Cowboy era of RR, when he let Merrill Lynch stick their greedy little fingers in the business of polcymaking. oh, yes, we’ve been getting a screwing for a long time, [b]only this time they’ve put sand in the vaseline.[/b][/quote]
Ooooooooh, THAT was the analogy I was looking for.
Very Astute!
Pura Vida Maravilla!
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