Ask a breh traveling thru Colombia 🇨🇴 & Panama 🇵🇦 anything

[Belize King]

If you live outside of the United States for at least 10 months out of the year you are Eligible for tax credits to lower your federal liability to 0.
Then they have companies where you use the company address for your mail which are located in a no income tax state like florida or Texas where you don’t pay state taxes so you’re effectively living tax free

I met software engineers and other IT professionals making well over 6 figures tax free in a country where the dollar is already worth 4-5x more.


Another thing is their rent is in pesos so as the dollar increases in value in respect to the local currency, their rent actually decreases
They were already paying less than $600 for high rise luxury apartments and it gets cheaper depending on the month

I haven’t paid Fed taxes in six years.

Had an accountant for a while then I got audited.

Had a ninja nervous I was going to have to pay them back. Accountant wanted $600 to respond. Bih you the one that got me audited.

I responded myself and was cleared. Filed myself ever since.

Now I have to move out the country. Wifey is scary though. We thought out Merida, Mexico City, Belize, and Ghana. We’re supposed to pull the trigger last year but decided to wait another one. Then I got this job in Japan and now this is where we may move to.

Sad we have to escape America to live a better life but it is what it is.

 

[aXiom]

That’s crazy..

It's not crazy.. it's doable.. however, keep in mind there's a cap of 180 days in the country per calendar year unless you have a nomad visa or some type of residency.. the whole process gonna run you around $800-$1000 if you go through an attorney.. if you're traveling on just your passport there's also a 90 day limit where you have to leave and re-enter the country for a new stamp or apply for a tourist visa to extend, but you're still limited by the 180 day cap.

Another option is flying in at the middle of the year like July 1st.. that way your180 days resets on Jan 1st and you can do a straight year out here.

 

[that guy]

It's not crazy.. it's doable.. however, keep in mind there's a cap of 180 days in the country per calendar year unless you have a nomad visa or some type of residency.. the whole process gonna run you around $800-$1000 if you go through an attorney.. if you're traveling on just your passport there's also a 90 day limit where you have to leave and re-enter the country for a new stamp or apply for a tourist visa to extend, but you're still limited by the 180 day cap.

Another option is flying in at the middle of the year like July 1st.. that way your180 days resets on Jan 1st and you can do a straight year out here.

I didn’t know you can do this

 

[null]

subs

 

[skyrunner1]

If you live outside of the United States for at least 10 months out of the year you are Eligible for tax credits to lower your federal liability to 0.
Then they have companies where you use the company address for your mail which are located in a no income tax state like florida or Texas where you don’t pay state taxes so you’re effectively living tax free

I met software engineers and other IT professionals making well over 6 figures tax free in a country where the dollar is already worth 4-5x more.


Another thing is their rent is in pesos so as the dollar increases in value in respect to the local currency, their rent actually decreases
They were already paying less than $600 for high rise luxury apartments and it gets cheaper depending on the month

I haven’t paid Fed taxes in six years.

Had an accountant for a while then I got audited.

Had a ninja nervous I was going to have to pay them back. Accountant wanted $600 to respond. Bih you the one that got me audited.

I responded myself and was cleared. Filed myself ever since.

Now I have to move out the country. Wifey is scary though. We thought out Merida, Mexico City, Belize, and Ghana. We’re supposed to pull the trigger last year but decided to wait another one. Then I got this job in Japan and now this is where we may move to.

Sad we have to escape America to live a better life but it is what it is.

See this the shyt we need threads on, straight strategy to keep money in our pockets.. shyt is amazing

 

[Apollo Creed]

I haven’t paid Fed taxes in six years.

Had an accountant for a while then I got audited.

Had a ninja nervous I was going to have to pay them back. Accountant wanted $600 to respond. Bih you the one that got me audited.

I responded myself and was cleared. Filed myself ever since.

Now I have to move out the country. Wifey is scary though. We thought out Merida, Mexico City, Belize, and Ghana. We’re supposed to pull the trigger last year but decided to wait another one. Then I got this job in Japan and now this is where we may move to.

Sad we have to escape America to live a better life but it is what it is.

School me ahki

Tax man been kicking my ass

 

[Alvin]

If you live outside of the United States for at least 10 months out of the year you are Eligible for tax credits to lower your federal liability to 0.
Then they have companies where you use the company address for your mail which are located in a no income tax state like florida or Texas where you don’t pay state taxes so you’re effectively living tax free

I met software engineers and other IT professionals making well over 6 figures tax free in a country where the dollar is already worth 4-5x more.


Another thing is their rent is in pesos so as the dollar increases in value in respect to the local currency, their rent actually decreases
They were already paying less than $600 for high rise luxury apartments and it gets cheaper depending on the month

My black ass doing this next year!!!

 

[Noriega]

If you live outside of the United States for at least 10 months out of the year you are Eligible for tax credits to lower your federal liability to 0.
Then they have companies where you use the company address for your mail which are located in a no income tax state like florida or Texas where you don’t pay state taxes so you’re effectively living tax free

I met software engineers and other IT professionals making well over 6 figures tax free in a country where the dollar is already worth 4-5x more.


Another thing is their rent is in pesos so as the dollar increases in value in respect to the local currency, their rent actually decreases
They were already paying less than $600 for high rise luxury apartments and it gets cheaper depending on the month

I dont want to speak for him but he might be talking tax exemptions/breaks. Was just on that side and met a couple brothers getting they money UP while living over there. They getting American money remotely while LIVING on that side, let these boys think brothers is goin only for women

To put things in perspective..It’s a shorty I met while down there, we still Keep in contact

Bachelors degree, bilingual , has a decent paying job in logistics/shipping by Colombian standards, she makes $900 a month

Even on $40,000-60,000 salary you could go down there and live like a king.

6 figures USD in Colombia ? Forget about it

 

[Mike Nasty]

Even on 40,000-60,000 salary you could go down there and live like a king. 6 figures? Forget about it

I just got back from Panama City and it was like two cities. One with I guess we're wealthy bankers and then a regular city. You'd go in one store and shirts would be more than the US, then in another store they had PSG shirts for $4.

 

[Noriega]

I just got back from Panama City and it was like two cities. One with I guess we're wealthy bankers and then a regular city. You'd go in one store and shirts would be more than the US, then in another store they had PSG shirts for $4.

Panama is the most expensive Latin country I’ve been to but also the one I feel the most safe

 

[Serious]

Panama is the most expensive Latin country I’ve been to but also the one I feel the most safe

And its not even really "expensive" but I can see why brehs on a budget go to colombia or DR

There are some things that are priced at US rates though.

 

[Noriega]

And its not even really "expensive" but I can see why brehs on a budget go to colombia or DR

There are some things that are priced at US rates though.

I refuse to pay anything remotely near US prices in Latin America

Colombia, Peru, Guatemala, El Salvador I was getting $10 haircuts, $5 dinners big plate of food, 45 cent beer

 

[IllNameMyselfLater]

How much Spanish do I need to be able to speak to get by in Panama? Not moving or anything, just for vacation.

 

[Belize King]

School me ahki

Tax man been kicking my ass

I got a tax lady who did over 20 of our guys taxes. She will get you money from two tax years prior as well. Cool peoples.

You have to be a bonafide resident overseas though. From what I understand, tax laws are grey so you play in it.

The law says 300 days out the country(might be 330 actually), but if you “live” overseas and “visit” the states, you are allowed to not pay taxes for those days out the country.


Very grey, but IMO worth the risk.

I am not a tax attorney nor accountant so take all of this with a grain of salt. The plug is certified though.

 

[Mike Nasty]

How much Spanish do I need to be able to speak to get by in Panama? Not moving or anything, just for vacation.

At least know how to order food at a restaurant to avoid the awkward back and forth with the waitress. Same thing with knowing what the cashier at the grocery store is going ask you when you check out.