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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?! -- Ignore unavailable to you. Want to Upgrade?

To: Mark[ox5] who wrote (62)1/17/1999 1:24:00 PM
From: speedbird  Respond to of 611
 
American Friend

My US friend here pays tax in Holland AND tax at the same time to your IRS. He has to have a higher salary than his work pals so that he can pay the dual tax. Does not seem right does it.




To: Mark[ox5] who wrote (62)1/19/1999 10:47:00 AM
From: R. Bond  Respond to of 611
 
Markox 5,

The IRS taxes all Americans on 100% of thier international capital gains. I don't know of any benefits to Americans trading abroad unless they don't claim thier capital gains when they file or set up an offshore company.

You don't have to leave the U.S. to do that.

Cheers,
Bond



To: Mark[ox5] who wrote (62)1/19/1999 10:54:00 AM
From: The Street  Read Replies (1) | Respond to of 611
 
The USA is only one of three countries in the world that tax based on citizenship.

IOW, a Brit can move to Panama and trade and only pay Panama taxes while an American has to pay Uncle Sam and Panama....


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