Hurry, everyone can be a millionaire by buying houses!

[briansd1]

meadandale, I never suggested that her uncle wanted to move there because of the heart attack.

Having a heart attack is very dangerous to one’s health. So I do suggest that the uncle might have very strong incentives to remain in USA to avail himself of the best health care in the world.

[briansd1]

Acetia, if he sold his business in USA, he already paid US taxes, or will be if it was an installment sale. Moving won’t make a difference.

If his future income won’t be USA derived, and he plans to renounce his citizenship, then it’s a little different. If he then acquires Australian citizenship and residency, he’ll be subject to Australian taxes that might be higher.

U.S. Citizens and Resident Aliens Abroad

If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.

http://www.irs.gov/businesses/small/international/article/0,,id=97324,00.html

[briansd1]

Acetia, if he sold his business in USA, he already paid US taxes, or will be if it was an installment sale. Moving won’t make a difference.

If his future income won’t be USA derived, and he plans to renounce his citizenship, then it’s a little different. If he then acquires Australian citizenship and residency, he’ll be subject to Australian taxes that might be higher.

U.S. Citizens and Resident Aliens Abroad

If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.

http://www.irs.gov/businesses/small/international/article/0,,id=97324,00.html

[briansd1]

Acetia, if he sold his business in USA, he already paid US taxes, or will be if it was an installment sale. Moving won’t make a difference.

If his future income won’t be USA derived, and he plans to renounce his citizenship, then it’s a little different. If he then acquires Australian citizenship and residency, he’ll be subject to Australian taxes that might be higher.

U.S. Citizens and Resident Aliens Abroad

If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.

http://www.irs.gov/businesses/small/international/article/0,,id=97324,00.html

[briansd1]

Acetia, if he sold his business in USA, he already paid US taxes, or will be if it was an installment sale. Moving won’t make a difference.

If his future income won’t be USA derived, and he plans to renounce his citizenship, then it’s a little different. If he then acquires Australian citizenship and residency, he’ll be subject to Australian taxes that might be higher.

U.S. Citizens and Resident Aliens Abroad

If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.

http://www.irs.gov/businesses/small/international/article/0,,id=97324,00.html

[briansd1]

Acetia, if he sold his business in USA, he already paid US taxes, or will be if it was an installment sale. Moving won’t make a difference.

If his future income won’t be USA derived, and he plans to renounce his citizenship, then it’s a little different. If he then acquires Australian citizenship and residency, he’ll be subject to Australian taxes that might be higher.

U.S. Citizens and Resident Aliens Abroad

If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.

http://www.irs.gov/businesses/small/international/article/0,,id=97324,00.html

[Aecetia]

He is staying in the U.S. and he is not my uncle. He is a friend. I only wish he was my uncle. Thanks for all the tax advice. I am staying here, too. Now back to the Olympics, although I did cheat and see who won.

[Aecetia]

He is staying in the U.S. and he is not my uncle. He is a friend. I only wish he was my uncle. Thanks for all the tax advice. I am staying here, too. Now back to the Olympics, although I did cheat and see who won.

[Aecetia]

He is staying in the U.S. and he is not my uncle. He is a friend. I only wish he was my uncle. Thanks for all the tax advice. I am staying here, too. Now back to the Olympics, although I did cheat and see who won.

[Aecetia]

He is staying in the U.S. and he is not my uncle. He is a friend. I only wish he was my uncle. Thanks for all the tax advice. I am staying here, too. Now back to the Olympics, although I did cheat and see who won.

[Aecetia]

He is staying in the U.S. and he is not my uncle. He is a friend. I only wish he was my uncle. Thanks for all the tax advice. I am staying here, too. Now back to the Olympics, although I did cheat and see who won.

[Author]

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