On Jan 6, 6:39=A0pm, Viking wrote:
> We pay 60% of our income in taxes in the US, and another 15% to our
> agent, which leaves us 25%.
>
> Now for a back-of-the-envelope calculation. If we moved to France,
> we'd have to convert that $ into EU, which cuts it down by about 25%
> in purchasing power, meaning we'd only have 18.75% of our income left,
> effectively.
>
> And according to a book I've been reading ("Living, Studying, and
> Working in France"), any income from the US is taxable without
> deductions. And French taxes can go as high as 50% or so. And another
> 20% is added to that for social security.
>
> So that would theoretically leave us with 5.625% of our US-earned
> income to live on in France.
>
> That can't be right. Any help from people who've faced this problem?
> Thanks in advance.
As a US citizen working abroad, you have up to $70,000 of income
exempt from US taxes. But how do you live in France and earned income
from the US? |