Quote:
Originally Posted by wig
I live in Panama, but you should know that moving here does not remove your tax liability.
Unless you are willing to renounce your citizenship -- making it hard then to travel back to the US -- you still have to pay Federal taxes.
And, if you don't have another passport, you are taking a huge risk.
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Oh of course...I was talking about moving there and then opening a new company there and operating under that company. I'd still be a US citizen and pay taxes on what I pay myself...which wouldn't be much heh-heh