I started working remotely and then left America. Now I live in a very low cost of living city and haven’t owed more than 1-2% taxes in years… It blows my mind that more people don’t do this.
Qualifying for the FEIE (stay out of America for 330 days per year) means you don’t pay taxes on the first $120k you earn. Maxing out the 401k ($22,500) will reduce taxable income as well so it’s really like the first $142,500 is tax free.
I started working remotely and then left America. Now I live in a very low cost of living city and haven’t owed more than 1-2% taxes in years… It blows my mind that more people don’t do this.
Where did you go? And how do you not pay fed taxes working for an American company? Or is it a foreign company?
Georgia (the country) and Turkey mostly.
Qualifying for the FEIE (stay out of America for 330 days per year) means you don’t pay taxes on the first $120k you earn. Maxing out the 401k ($22,500) will reduce taxable income as well so it’s really like the first $142,500 is tax free.
I work for an American company as a W2 employee.