Does anyone know about how you pay taxes when you have a dual

[caty]

citizenship? Do you pay 100% of your due taxes to each country or 50%?

[sui generis]

1. mostly 100 percent of the taxes on INCOME earned

or used in each country (i.e., earned in overseas investments, used in the U.S. to buy a car). Varies by country. Get a tax accountant qualified in each country.

[Whoa_Nelly]

2. Go to the IRS website and do a look up

http://www.irs.gov/

[NanceGreggs]

3. Taxes are paid in the country in which revenue is earned ...

... it has nothing to do with citizenship.

I am an American living in Canada. I only pay taxes here, because I earn no income derived from the US. If I did earn money in the US, however -- i.e. if I owned houses in the States that I was collecting rent on -- I would have to file a US return showing that income, on whcih US taxes would be due and owing.

[northzax]

5. only up to a certain amount

above what, 90 grand? us citizens have to pay US taxes, with some exceptions.

[NanceGreggs]

11. The last time I was advised (which is a few years ago) ...

... it was up to $120,000 - it may be higher now. It's a fluctuating figure, because of the fluctuation in the exchange rate between here and there.

No matter - I only WISH I was in an income bracket where I had to worry about it!

[pitohui]

6. oh boy is this terrible advice

i'm not sure if you really believe this to be true or if you're playing w. someone so idiotic as to ask about an involved tax issue on an internet message board

suffice it to say that technically speaking americans DO owe taxes on income no matter where they reside or earn the income, however, the existence of tax treaties w. different countries means that many get credit for the taxes they've paid to their country of residence

each person needs to get very specific advice based on their citizenship, country of residence, amount of income, etcetera, and really they had probably best get it from a tax specialist or at least from the irs publications and website, not from DU

those who just assume willy nilly, oh i'm living in canada now, i don't owe the usa any taxes could be in for a helluva shock one of these days, the usa to my knowledge is one of the few (maybe the only) country where you owe taxes if you are a citizen whether you live there or not

[NanceGreggs]

10. I would have to file a US return IF I was earning ...

... a VERY HIGH income in Canada (it is a specific dollar amount), and it is an income I have never even come close to attaining. And even in that case, I would be obligated to FILE; I still might not have any taxes due in the US, depending on a myriad of things.

I doubt that the OP is depending SOLELY on any advice given here. I was merely pointing out that the BASIC premise of payable taxes is the place where revenue is earned as opposed to citizenship - because the original question was: "If I have dual citizenship, do I pay 50% of my taxes to each, or 100% to both?"

I gave a very simple answer to a very simple question. And, as I say, I doubt that the OP is looking for a definitive answer here.

[northzax]

12. yes, well, there is a US$80,000 expemtion

for income earned outside the US, if you are a resident of a foreign country. this will rise, in line with US inflation, starting in 2008. above that, check with a US based tax preparer for more help.

[NanceGreggs]

15. I am nowhere NEAR $80,000US!

NOT EVEN CLOSE!!!

I don't need help from a US tax preparer - I need help from someone who will hire me and pay me more money!

Believe me, this is a problem I WISH I had to deal with ...

[sgxnk]

13. it depends also on the laws of a country

a friend of mine is canadian dr working in the US

she pays taxes in BOTH countries even though she lives entirely in the US

so, it's not as simple as you claim

but she only pays a small %age of her taxes to canada

[Finder]

4. Depends on residency not citizenship and...

we also have tax treaties with some nations for those who have income from both countries.

http://www.irs.gov/taxtopics/tc854.html

[uppityperson]

7. send me 25% of your income and I'll fix it for you.

?

[caty]

16. The check is in the mail!

:silly:

[breakaleg]

8. My understanding is

for the US anyway, you are exempt on the first 80K. And then you pay tax on any amount over that. And even if you aren't a resident, in order to maintain your citizenship, you still must pay.

[sinkingfeeling]

9. Depends on the countries involved...when I get to Ireland, I will have

to continue to pay US income taxes on my pensions/SS (if there's any), but will be created by Ireland with those paid to US. Might have more or less to pay in Irish taxes. Some countries have such agreements and I guess, others don't.

[sweetheart]

14. Well, slave, it depends on which plantation owns you

If you are 'owned' by 2 plantations, then what do you owe?