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beiland · 11-03-2015, 21:48

Quote:

Originally Posted by TacomaSailor

"btw for retiree there is a 0% taxe income in portugal for a period of 10 years...just thought it might interest you tacomasailor"

I spent a couple weeks in Lisbon and loved it. I walked down to the waterfront every afternoon and was impressed with how friendly the folks were.

However, the US government will continue to grab our tax money no matter where we try to hide.

If you spend 13 months continuous out of the country, you do not need to pay US income tax for that year

downunder · 11-03-2015, 22:24

Quote:

Originally Posted by TacomaSailor

I guess I should bring this interesting thread to a graceful conclusion.

The boat of my dreams was sold to a buyer who showed up after dark, literally, on the evening prior to the donation documents being signed. He had cash in hand and the boat was sold.

I knew nothing about the new buyer and tried to make an offer on Sunday and it was rejected.

I wonder if the sudden appearance of a new buyer at the 11th hour was a result of the long discussion we had here.

I do hope they enjoy their great new boat.

Thanks to all who participated here!

Sorry to hear you missed it.

As far as I know the Barrumundi (similar vessel) is still on the market here in Aus and good value with US dollars.

TacomaSailor · 11-03-2015, 22:37

Quote:

Originally Posted by beiland

If you spend 13 months continuous out of the country, you do not need to pay US income tax for that year

Thanks for the advice - but - I've always figured tax advice gained on the internet is worth exactly what I pay for it.

It is not earned income -It is tax deferred income, earned in the US, and the IRS will want that deferred tax paid no matter where we live when we spend the money.

Mirage Gecko · 12-03-2015, 00:26

Tacoma please don't be offended but at one stage of this very circuitous thread I was seriously starting to think you were trying to generate some interest on the boat on behalf of the owner.

Chris

Heath68 · 12-03-2015, 00:52

Quote:

Originally Posted by Mirage Gecko

Tacoma please don't be offended but at one stage of this very circuitous thread I was seriously starting to think you were trying to generate some interest on the boat on behalf of the owner.

Chris

Me too at one point. Tacoma, by offering more you seem to have genuinely wanted this boat. Trying not to say I told you so but my comments #123 and #217 were perhaps missed.. but maybe despite your desires it was never meant to be.

Sent from my GT-I9305 using Cruisers Sailing Forum mobile app

Southern Star · 12-03-2015, 05:04

Tacoma, while you are disappointed at the moment, you are probably better off. Your wife's worries about resale were not going to disappear and, when it came time to sell, I can just picture your fears and frustrations if they came to fruition. The right boat will come along!

beiland · 12-03-2015, 05:48

Quote:

Originally Posted by TacomaSailor

Thanks for the advice - but - I've always figured tax advice gained on the internet is worth exactly what I pay for it.

It is not earned income -It is tax deferred income, earned in the US, and the IRS will want that deferred tax paid no matter where we live when we spend the money.

I am certainly no tax expert, but I do believe that the income becomes taxable when you declare it as income,....deferred or not.

Social Security and IRA's might be well termed 'deferred income', and they are not taxable until you start to claim them as income.

Any particular US State that I lived in during my income producing years can not tax my SS that I may have earned while I lived in their state. But now Florida can tax my SS, but Florida does not have personal income tax,...one of the reasons I moved here recently....besides the warmer weather and the ocean.

At one point I was considering living full time in Thailand, and I thought I remember being told I might avoid paying US taxes on my claimed income each year as a result of not being a resident of the USA for extended periods of time that had to include at least 12-13 months.

beiland · 12-03-2015, 06:41

Dear Tacoma Sailer,

Sent you a private message about some alternatives you might consider

Brian

colemj · 12-03-2015, 07:26

Somebody really showed up with half a million dollars in cash on them?

Mark

TacomaSailor · 12-03-2015, 08:52

Quote:

Originally Posted by colemj

Somebody really showed up with half a million dollars in cash on them?Mark

I think of a check as the same as cash.

My wife is certainly relieved. She knew how much I wanted the boat and she knew how concerned she was about future issues. I am relieved I did not have to decide if the boat was worth a big push on my part.

Now we can go back to loving our current boat.

I'd love to hear from the new owner after a couple months so they can tell me what a great boat they purchased.

Sand crab · 12-03-2015, 11:27

No sea trial, haul out or survey? In other words is it under contract?

tdominic_97 · 12-03-2015, 11:57

This is playing out like a scam, someone is getting screwed, not sure if it is the broker or the buyer, or next buyer after this price raising scam runs it course.