Site Search:
 
Get TEFL Certified & Start Your Adventure Today!
Teach English Abroad and Get Paid to see the World!
Job Discussion Forums Forum Index Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Students and Teachers from Around the World!"
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

FATCA - Any Americans renouncing their citizenship?

 
Post new topic   Reply to topic    Job Discussion Forums Forum Index -> Poland
View previous topic :: View next topic  
Author Message
simon_porter00



Joined: 09 Nov 2005
Posts: 505
Location: Warsaw, Poland

PostPosted: Fri Sep 27, 2013 8:19 am    Post subject: FATCA - Any Americans renouncing their citizenship? Reply with quote

http://www.bbc.co.uk/news/magazine-24135021

Anyone going to be affected by this? OK, you'll need 156,000 zl in your account (although I have no idea if fixed assets - houses, cars etc - will be included in this) but in theory I can see it affecting or at least causing some people to think.
Back to top
View user's profile Send private message Visit poster's website
Master Shake



Joined: 03 Nov 2006
Posts: 1202
Location: Colorado, USA

PostPosted: Fri Sep 27, 2013 9:11 am    Post subject: Reply with quote

The 156,000zl is annual income. If you're under this amount, you pay no tax to the US gvmt.

I think we can all agree that 156,000zl is out of the question for most teachers working in Poland so no need to surrender that US passport.

I've filed US income taxes since I've lived abroad. The tax forms are complicated, but once you've done it once it's pretty much the same every year. It takes me 1-2 hours to file a return now. It's fast because I don't bother claiming deductions like housing, food etc. because I know I will always be well under the 156,000zl limit.

You can fill out US income taxes online at: https://www.freefilefillableforms.com/fff/html/FreeFileForms.htm
Back to top
View user's profile Send private message
ecocks



Joined: 06 Nov 2007
Posts: 899
Location: Gdansk, Poland

PostPosted: Fri Sep 27, 2013 9:36 am    Post subject: Reply with quote

Things will have to get a bit worse before the numbers reach a point of eyebrow-raising concern but America is well on it's way to mediocrity so it's possible.

I have never actually met an American who has done this and it's clear emigration from the US is basically non-existent, so far.
Back to top
View user's profile Send private message Send e-mail AIM Address Yahoo Messenger
dynow



Joined: 07 Nov 2006
Posts: 1080

PostPosted: Fri Sep 27, 2013 9:31 pm    Post subject: Reply with quote

Turbotax says $95,100 which is around 300,000 zl.

https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-Tips/Filing-Taxes-While-Overseas/INF19130.html
Back to top
View user's profile Send private message
Master Shake



Joined: 03 Nov 2006
Posts: 1202
Location: Colorado, USA

PostPosted: Sun Sep 29, 2013 9:20 am    Post subject: Reply with quote

dynow wrote:
Turbotax says $95,100 which is around 300,000 zl.

https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-Tips/Filing-Taxes-While-Overseas/INF19130.html
Shucks, I'd better cut back on my teaching hours this semester. Wink
Back to top
View user's profile Send private message
Infinite



Joined: 05 Jan 2013
Posts: 235

PostPosted: Wed Oct 02, 2013 11:41 am    Post subject: Reply with quote

If you're a business owner, 300,000PLN is not that much really. I think more people are definitely thinking about the switch. As per not knowing many US citizens who made the jump... I'm sure we'll be seeing this trend soon enough. I wonder how this would affect people who hold multiple passports. Sad to see the once free country turn into a complete police state and trying to intervene in every part of its citizen's lives under the guise of security and tax avoidance. Stalin is truly laughing in his grave, there's never, in the entire history of this planet, been a more surveyed nation than the US. What really gets me is how they eagerly sell this technology to other nations world wide... ugh...
From a perspective of an EFL teacher, there's not much to worry about unless you're one of the few who landed those really sweet lucrative gov't and military contracts, but from a perspective of a school owner, this could be a game changer for many US citizens who found their new home abroad.
Back to top
View user's profile Send private message
PeterParvo



Joined: 18 Dec 2011
Posts: 103

PostPosted: Wed Oct 02, 2013 12:02 pm    Post subject: Reply with quote

Infinite wrote:
Sad to see the once free country turn into a complete police state and trying to intervene in every part of its citizen's lives under the guise of security and tax avoidance.


Am I missing something? Am I not reading the right newspapers? After being abroad for 13 years and now back in the U.S., I can't for the life of me understand this quote.
Back to top
View user's profile Send private message
ecocks



Joined: 06 Nov 2007
Posts: 899
Location: Gdansk, Poland

PostPosted: Wed Oct 02, 2013 12:56 pm    Post subject: Reply with quote

PeterParvo wrote:
Infinite wrote:
Sad to see the once free country turn into a complete police state and trying to intervene in every part of its citizen's lives under the guise of security and tax avoidance.


Am I missing something? Am I not reading the right newspapers? After being abroad for 13 years and now back in the U.S., I can't for the life of me understand this quote.


Funny, I recognized the aptness of his description instantly.

But, that's the core of the problem. The country is polarized into opposing camps.
Back to top
View user's profile Send private message Send e-mail AIM Address Yahoo Messenger
PeterParvo



Joined: 18 Dec 2011
Posts: 103

PostPosted: Wed Oct 02, 2013 1:49 pm    Post subject: Reply with quote

Yes I do sense that feeling among some people that the government is too intrusive and money-sucking in the U.S., but to say that we live in a police state is absurd. Go live in the Middle East for a while and you'll see police states.

On the issue of governments taking too much money from their citizens, don't Poland and Europe rather highly tax their citizens? I saw a high percentage of my money going to the Polish government while working there. Now in the U.S., I find my taxes rather reasonable.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Job Discussion Forums Forum Index -> Poland All times are GMT
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2018 Dave Sperling. All Rights Reserved.

Powered by phpBB © 2001, 2002 phpBB Group

Teaching Jobs in China
Teaching Jobs in China