As if it’s not enough to have Schulman, Schumer and many others telling us how we should have life-long financial servitude to the United States, now Winnipeg Free Press headline demands: U.S. Citizens Living Here: Do Your Tax Duty
The author even reminds Canadian snowbirds of their obligation to dear old Uncle Sam:
“Just to be clear, this applies to Canadian citizens who are winter vacationers in the United States, including the vast majority who have never worked in the U.S. and do not earn any money there.”
And, then he goes on to give some insightful advice to Canadians earning a living in U.S.
“Speaking of Canadians working in America, I think it will be the L.A. Kings in five or six games.”
Hockey?!? Not one word about the massive penalties Canadians and other immigrants to U.S. can face if they don’t report on their retirement or other savings in their home countries.
The author is a fee-for service financial planner. I don’t think I’ll hire him anytime soon.
*I left a comment on Mr Christianson’s blog on June 1st and still awaiting moderation.
Interesting data from the OECD regarding Income Tax and Social Security benefits as a percentage of gross wages. Not sure the graph will embed correctly, so here is the link to the OECD pages : http://www.oecd.org/dataoecd/60/63/50035546.xls
As you will note, Canada is just slightly higher than the USA. At 55%, Belgium far outweighs the other countries included in the study. It is disturbing that US persons in these high tax countries may, in addition to the taxes paid to their country of residence, be double taxed by the USA. The foreign income exclusion of $92k is on the basis of gross wages, thus excluding the mandatory social security taxes withheld by these high tax countries. This can mean that not only does the USA NOT provide social security benefits to overseas residents but may be taxing expats a second time for the “privilege” of having received such benefits in their country of residence.
Mr Christianson did not publish my comment in his blog (and I was very civilized) and killed the link to it altogether. I guess he didn’t like our concerted effort. Anyone ever get a response from him? My guess is he doesn’t like bad advertising.