Dear Uncle Sam

Reply #8

Thomas Covenant — Sun, 02 May 2004 16:49:24 GMT

The US has Tax Treaties with most countries, these countries are required to report any money made by US citizens. They are required to report anybody that may be a US citizen. If you get smart and give up your US citizenship and move to another country, The US can and does still tax you for up to 10 years after you move.

Reply #7

dragon — Sun, 02 May 2004 16:28:19 GMT

Quote: Originally posted by Thomas Covenant on May 02, 2004Anything under $80,000 a year is tax free, the rest is taxed. The US can and does tax any US citzen on any money made anywhere in the world.I am stunned about this fact. Really?How does the IRS know? I guess they don't, but if you don't declare it, and they catch you, jail time.I guess if it does not apply to you, you never think about it.

Reply #6

cdplayer — Sun, 02 May 2004 13:20:46 GMT

Thank you guys for responding to my question

Reply #5

Thomas Covenant — Sun, 02 May 2004 09:16:03 GMT

Anything under $80,000 a year is tax free, the rest is taxed. The US can and does tax any US citzen on any money made anywhere in the world.

Reply #4

BobP — Sun, 02 May 2004 06:59:57 GMT

Don't mistake this for tax advice, but I believe as long as the money remains in Canada it's tax free. You pay taxes on the portions you bring into the U.S.BobP

Reply #3

dragon — Sat, 01 May 2004 23:44:34 GMT

Quote: Originally posted by cdplayer on May 01, 2004Let's say I hit the lotto for a lot of money. I live in Canada but I am a U.S. citizen. Will Uncle Sam want to tax my winnings? Thanks!I think it depends on where the lottery is that you play. If you win the lottery in Canada, and you live in Canada, and you pay taxes in Canada, uncle Sam has nothing to do with it. However, if you win the NY lottery, I am sure uncle sam will take his share first.

Reply #2

keystonechas — Sat, 01 May 2004 23:38:53 GMT

Uncle Sugar will get his fair share of the money before you get yours.Chas

Reply #1

st.germain — Sat, 01 May 2004 23:28:31 GMT

If not i'm sure that your family ties and friends will. I think that the ticket being bought and played here that your not going to get anything until they take their cut just like taxes on a car ,for instance.

Dear Uncle Sam

cdplayer — Sat, 01 May 2004 21:44:50 GMT

Let's say I hit the lotto for a lot of money. I live in Canada but I am a U.S. citizen. Will Uncle Sam want to tax my winnings? Thanks