Re: Transfer of Residence (USA to Pakistan)
Let me get this straight: You have pay taxes in the US even if you don’t live in the US? How messed up is that? 
Re: Transfer of Residence (USA to Pakistan)
firenze: Glad to read about your successful move back. And best of luck with your business there.
Your first 80k (or more now) are tax free, beyond that you pay the difference between that nations taxes and us taxes, if there is a difference. For many it's not an issue because either they are under that amount or the tax rate on the amount over that 80k is higher in the other nation anyways. If you pay more than you would have paid in US, you have credits that you can apply to US income if there is any. It gets a little complicated.
The logic as I understand is that it pays for things like your Medicare and social security etc when you retire, otherwise you get something from a system you have not paid into.
Re: Transfer of Residence (USA to Pakistan)
But you have to file your Taxes every year no matter how much you earn. Now that's a real pain....
Re: Transfer of Residence (USA to Pakistan)
How do you deal with the issues regarding Utilities, if you dont mind me skiing?
Re: Transfer of Residence (USA to Pakistan)
What kinda issues are you talking about?
Re: Transfer of Residence (USA to Pakistan)
The logic as I understand is that it pays for things like your Medicare and social security etc when you retire, otherwise you get something from a system you have not paid into.
The fair thing to do would then be:
You will get your retirement benefits even if you don't live in the US, since you paid taxes while you were not living in the US. I doubt that this is the case though.
Re: Transfer of Residence (USA to Pakistan)
How do you deal with the issues regarding Utilities, if you dont mind me skiing?
I don't mind. Can I tag along ? Where do you go for skiing ? Vermont or Colorado ? :D
Re: Transfer of Residence (USA to Pakistan)
The fair thing to do would then be:
You will get your retirement benefits even if you don't live in the US, since you paid taxes while you were not living in the US. I doubt that this is the case though.
I think if you pay into social security, you get to claim it.
Yes, even if you are not living in US, you get social security benefits. Some conditions and exceptions exist e.g. Living in countries with embargoes etc.
Re: Transfer of Residence (USA to Pakistan)
Yes, even if you are not living in US, you get social security benefits. Some conditions and exceptions exist e.g. Living in countries with embargoes etc.
In that case it makes sense. In European countries you hardly get any benefits if you don't really live there. But then you don't have to pay tax if you don't live there either.
Re: Transfer of Residence (USA to Pakistan)
firenze... nice to hear about your successful move back to Pakistan. Good luck with your plans!
Re: Transfer of Residence (USA to Pakistan)
You can get the great furniture movers in the market. There are many such movers available and offers their services at the affordable rates. They will be responsible for your goods and transports safely.
Re: Transfer of Residence (USA to Pakistan)
Plz Firenze tell me about your wife experience with kids to Pakistan as we are in the same boat thinking to move and as a mother I m worried more about the kids health , education and safety in Karachi
your feed back will be greatly appreciated
thanks
Re: Transfer of Residence (USA to Pakistan)
Plz Firenze tell me about your wife experience with kids to Pakistan as we are in the same boat thinking to move and as a mother I m worried more about the kids health , education and safety in Karachi your feed back will be greatly appreciated thanks
Karachi is relatively unsafe compare to rest of the country. We don't have kids, so can't help you about it.
Re: Transfer of Residence (USA to Pakistan)
Firenze did you finish everything from usa? what about utilities e.g bills etc?