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Any EXPATS on here? Quick Question
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Date: October 23rd, 2017 10:18 AM Author: Boyish honey-headed mad-dog skullcap parlor Boss offered me a promotion, but I'll have to move to Europe. I'd be the head EMEA atty for this particular product -- so there would be monthly travel to various Euro cities. It'd be with an EU member country, and in a city like Frankfrut.
Do you regret leaving the US?
How much of a tax hit will I get? [I currently make about $170k USD, but will make about $190-200k USD (whatever that is in Euros) in Europe. I still need to figure out how much I'll have to pay in the US, I think first $100 is tax free.]
What did you do about insurance if you're in an EU country? |
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Date: October 23rd, 2017 10:20 AM Author: Multi-colored Swollen Native Half-breed yeah im an expat. i dont really regret leaving the us, but im looking to come back. ive been abroad for a while.
you wont necessarily take a tax hit, it could be beneficial. you get to exclude a large portion of your income from us taxes, then you get credit for rent paid abroad, and you can offset any taxes paid abroad. i come out WAY ahead, but im in a low tax jurisdiction. no idea how it works in EU |
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Date: October 23rd, 2017 10:25 AM Author: Boyish honey-headed mad-dog skullcap parlor Yea, this EU country is fucking brutal. So, that's the downside. What is the rent credit? I read a bit about it. (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508475) |
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Date: October 23rd, 2017 10:30 AM Author: Multi-colored Swollen Native Half-breed you can exclude the amount you pay in rent from your us taxable income. they cap the acceptable rent in each city, but the cap is very generous. i pay like $3300 in rent per month and im well within the cap for my city (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508497) |
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Date: October 23rd, 2017 10:35 AM Author: Boyish honey-headed mad-dog skullcap parlor I see. So the money you pay for rent is excluded from being taxable income in the US?
I guess, I'm just trying to figure out when I'm going to get gangbanged by the US and Euro country. And for how much. |
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Date: October 23rd, 2017 10:36 AM Author: Multi-colored Swollen Native Half-breed yeah.
if you end up paying more in taxes then you can offset in the us, you can also carry that credit forward for when you move back to the states, so that helps too |
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Date: October 23rd, 2017 12:10 PM Author: Copper concupiscible corn cake Expat here. Depends on your deal. I get health insurance paid for and a local pension contribution from my employer. Wife's a EU citizen that helped getting a job for her. Between exclusions and FTCs taxes a fine but was in MFH prior to where I am now. Make sure you get housing covered for at least theee months. moving over is a bitch and no one will rent to you at the start because you don't have a local bank account or credit and you are on a visa. Also Check the type of visa you're on. Some can be renewed more easily then others do if you want to stay that matters (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508980) |
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Date: October 23rd, 2017 12:27 PM Author: Boyish honey-headed mad-dog skullcap parlor Thanks for the info. Yea, wife still has her Polish citizenship, so I imagine it'd be easy for her to get a job. I'll get them to cover as much of my housing as possible. (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509099) |
Date: October 23rd, 2017 10:20 AM Author: vigorous misanthropic skinny woman digit ratio Whats your all in like? Bennies/driver/house? (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508458) |
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Date: October 23rd, 2017 10:28 AM Author: Boyish honey-headed mad-dog skullcap parlor About $190 to 200k USD income. I have no idea how healthcare will work. I currently have a high deductible plan with HSA.
I wouldn't get a driver or house paid for. This is a permanent move. If it were temporary, I would get a stipend for housing.
We currently have about $400k USD saved. |
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Date: October 23rd, 2017 10:39 AM Author: talented market lol dont leave the us for 20k. does your wife work? kids? (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508524) |
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Date: October 23rd, 2017 10:54 AM Author: Boyish honey-headed mad-dog skullcap parlor Yes; she'd have to find another gig. She doesn't like what she's doing now. And, she's open to moving since she'll be near her family in Poland.
No kids yet, but we do want them. The company has a nice paternity leave (about 6 mos) with pay for its Euro employees.
Given that they've been searching for a year and a half, I'm going to ask for more money. Not sure if they can up my salary, but maybe give me some rental stipend. |
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Date: October 23rd, 2017 10:56 AM Author: talented market i guess it makes more sense if she has family in poland. is she american or what? (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508583) |
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Date: October 23rd, 2017 10:57 AM Author: Boyish honey-headed mad-dog skullcap parlor She was born in Poland, but is an American citizen. Your point is valid, $20-30k isn't much of a boost. (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508591) |
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Date: October 23rd, 2017 12:15 PM Author: trip doobsian business firm $20K to $30K to move abroad with more travel is complete bullshit. Even if you net more after tax gains. Unless your career will be so much better for it. (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509012) |
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Date: October 23rd, 2017 12:25 PM Author: Boyish honey-headed mad-dog skullcap parlor That's the thing. It's a leadership position, so I'd be on some alternative track within my mega company. I'd have a team to manage and an outside counsel budget to oversee. Not sure what value that has right now.
I may try to get the foreign schooling or other perks from the employer if it won't increase the salary. I'll have to figure out more about the Expat pkg. Solely focused on the money, but there should be more to it.
My boss would be pretty cool from my understanding. The hours would be less. In NAM, we're constantly working. In EMEA, they don't respond after office hours or while on vacation. So, QoL will improve. |
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Date: October 23rd, 2017 12:41 PM Author: racy sex offender You’re right about the QOL issue. Just don’t underestimate the downsides of living somewhere where you don’t speak the language of daily life. It can be isolating. That’s not a reason not to do it, but it is a downside. (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509190) |
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Date: October 23rd, 2017 1:53 PM Author: Adulterous indian lodge quadroon If you have kids get them to pay for the local international school (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509674) |
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Date: October 23rd, 2017 11:11 AM Author: sepia fortuitous meteor windowlicker Sounds 180, congrats (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508664) |
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Date: October 23rd, 2017 11:15 AM Author: Frozen wrinkle nibblets I have no idea where you are now but if it's chicago Dude get out of Chi-raq it's not safe to raise kids in plus if you have dotters they're gonna be fat growing up on Italian beef and deep dish (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508679) |
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Date: October 23rd, 2017 12:04 PM Author: Boyish honey-headed mad-dog skullcap parlor Yes, in Chicago now. Wife's work is here, and I work from home (but based elsewhere). Some parts here are definitely shitty. I wouldn't want to live here forever. (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34508951) |
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Date: October 23rd, 2017 12:41 PM Author: opaque location Was gonna pen a screed about how you shouldn't pack up and move sight unseen but this changes the game
Get the fuck out ASAP and aim for retiring in eastern europe or somewhere nordic that isn't sweden. |
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Date: October 23rd, 2017 12:12 PM Author: trip doobsian business firm If you have kids and they aren't covering international schooling it's BS.
Some firms cover expatriate health insurance (you'll want to be able to be insured in the US for healthcare in case you need it). Others provide local health insurance (which may be unnecessary if you're in a single payer country).
You can also ask for X flights back home per year for family.
If this is all you're getting you'll feel less than relative to most expats (not counting English teachers) frankly. |
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Date: October 23rd, 2017 12:27 PM Author: Geriatric garrison Just tell them you're a Muslim and you'll get hella welfare benefits (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509103) |
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Date: October 23rd, 2017 12:36 PM Author: racy sex offender the description of taxes in this country as “brutal” makes me suspect Brussels/Belgium, in which case literally LJL about taxes there
taxes depend a lot on the country but in most places will be higher than in the US so you will just end up more in taxes even if you can offset these against all US taxes and so don’t pay anything in the US — gg’s info on offsets is very helpful if you’re going to a low tax jurisdiction in Asia or a sensible Euro country like Switzerland or Ireland, but not so much for an absurd country like Belgium. Belgium has some “expat” provision that lowers your Belgian taxes for the first few years (7?), but in reality it only lowers them from completely absurd (marginal rate of 60-something % on all income above 30k) to laughably high; Holland and I think Germany also have similar temporary expat breaks. Inform yourself well about details before deciding.
the point about schools being paid for matters too — don’t send your kids to the local French (or whatever) language school in Brussels with all the Moroccans, you definitely want to send them to the local American or British school, which will be expensive
That said, life in Europe is nice, but in some places nicer than others. |
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Date: October 23rd, 2017 1:22 PM Author: Boyish honey-headed mad-dog skullcap parlor Do you have a throw away? (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509441) |
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Date: October 23rd, 2017 1:27 PM Author: racy sex offender (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509466) |
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Date: October 23rd, 2017 1:39 PM Author: Boyish honey-headed mad-dog skullcap parlor Got it. Will email in a few. Thanks (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34509539) |
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Date: October 23rd, 2017 3:28 PM Author: racy sex offender responded (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34510446) |
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Date: October 23rd, 2017 8:01 PM Author: Boyish honey-headed mad-dog skullcap parlor thanks, brother. Sent a few follow-up questions.
Also, mild bump for West Coast crew. |
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Date: October 23rd, 2017 8:02 PM Author: Contagious cheese-eating filthpig library Europe is in jihad right now (http://www.autoadmit.com/thread.php?thread_id=3772277&forum_id=2#34512578) |