It could be beneficial to if working abroad because the United States is one of the only countries on the planet that taxes earned wages abroad while offering absolutely zero tangible benefits to those who do, perhaps besides the passport itself.
Given much of the free world depends on the US for defense, maybe it's not "zero tangible benefits"?
Yea, it's annoying, though. Under $130k a year you don't pay. So this is a 1%-er problem. And, you still deduct your foreign taxes and just pay the difference. I'm not saying that makes it ok, but you aren't double taxed, you're just taxes as tho you were back in the USA.
I don't know why you got downvoted for just asking a question. I'd be curious too. In some countries it's much easy to become a citizen (give up your previous citizenship) than it is to get permanent residency permission (in which you're still technically a citizen of your previous country)
SlightlyLeftPad|5 days ago
socalgal2|5 days ago
Yea, it's annoying, though. Under $130k a year you don't pay. So this is a 1%-er problem. And, you still deduct your foreign taxes and just pay the difference. I'm not saying that makes it ok, but you aren't double taxed, you're just taxes as tho you were back in the USA.
timbit42|4 days ago
socalgal2|5 days ago
anonnon|5 days ago
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