Moving to Romania - Need Tax Advice

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TrailBlazerTN

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Aug 10, 2012
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I currently live and am a citizen of the USA where I grew up. However, I was born in Romania and moved to the US when I was 3. I now plan on moving back and living in Romanian where I will have duel citizenship with the USA.

For work I am a sole proprietor, affiliate marketing for CPAs. I get paid direct deposit into my US bank account.
Once I'm in Romania, how would I file for taxes since i'm still earning my revenue in the US but living in another country?

Would I be double taxed and also have to file for taxes to the Romanian government?

Does anyone have experience with anything similar to this or can point me to some resources where I can do more research on the subject?
 


You need to talk to a tax expert in Romania and your accountant.

Anything else has a high probability of biting you in the ass somewhere in the near future
 
We've been over this at least 100 times on this forum buddy, you could have used the search feature.

Anyhow, I'm in a good mood today, so I'll answer you: YES, the U.S. wants its share of the cake regardless of where you live or what other passport you have. The U.S. and Eritrea are the only 2 countries in the world where you can't escape income tax unless you give up citizenship. Now that said... you may be able to lower your amount owed under certain conditions. Read this:

Foreign earned income exclusion - Wikipedia, the free encyclopedia

International taxation - Wikipedia, the free encyclopedia
 
Make an LLC in Great Britain, set up a subsidiary in Georgia. Then take your Romanian passport, go over to Georgia and set up a bank account. Use a shady billing merchant to send your internet monies to your Georgian bank account and use the card to withdraw money from an ATM in Moldova (withdraw USA dollars). Probably can use a Romanian ATM for that just as well.
 
For Romania, IRS is ANAF. Depending on the amount of money you make, you can not pay taxes, you can pay some taxes or pay all the taxes.
Plus, remember that Romania is in EU. All of your traffic purchases from EU will require 24% VAT.

In your place, I would worry first about US taxes and then the ones in Romania.
 
My fault for not posting this in the right forum. Appreciate the advice avatar33, you the man.

If a mod or admin could move this to legal/accounting section that would rock.

@avatar33

If I were to close my US account, and open up a Romanian bank account, since i'll be a citizen of the country, and have all my payments sent there, will the US still want a cut based solely that i'm still a US citizen earning money from the US?
 
jorarulit said:
Make an LLC in Great Britain, set up a subsidiary in Georgia. Then take your Romanian passport, go over to Georgia and set up a bank account. Use a shady billing merchant to send your internet monies to your Georgian bank account and use the card to withdraw money from an ATM in Moldova (withdraw USA dollars). Probably can use a Romanian ATM for that just as well.
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I'm not looking for ways to tax evade or do anything risky. I want to know the legal ways of living in Romania with duel citizenship and paying the least amount of taxes I can legally get away with paying.
 
TrailBlazerTN said:
Because i'd rather not spend time in federal prison.
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PWCiuwA.jpg
 
TrailBlazerTN said:
My fault for not posting this in the right forum. Appreciate the advice avatar33, you the man.

If a mod or admin could move this to legal/accounting section that would rock.

@avatar33

If I were to close my US account, and open up a Romanian bank account, since i'll be a citizen of the country, and have all my payments sent there, will the US still want a cut based solely that i'm still a US citizen earning money from the US?
Click to expand...

Have you even read the 2 links I posted earlier? Of course the U.S. would want its share, especially since it's considered domestic income, so you wouldn't even qualify for the foreign income exclusin of 97k.
 
avatar33 said:
Have you even read the 2 links I posted earlier? Of course the U.S. would want its share, especially since it's considered domestic income, so you wouldn't even qualify for the foreign income exclusin of 97k.
Click to expand...

I read them after I made the post. Appreciate you sharing those with me bro.
 
avatar33 said:
Have you even read the 2 links I posted earlier? Of course the U.S. would want its share, especially since it's considered domestic income, so you wouldn't even qualify for the foreign income exclusin of 97k.
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It doesn't matter if the income comes from the US as long as you spend at least 330 days outside of the US:

Source of Earned Income
The source of your earned income is the place where you perform the services for which you received the income. Foreign earned income is income you receive for performing personal services in a foreign country. Where or how you are paid has no effect on the source of the income. For example, income you receive for work done in France is income from a foreign source even if the income is paid directly to your bank account in the United States and your employer is located in New York City.
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Foreign Earned Income Exclusion - What is Foreign Earned Income

If you have a wife, I believe you can double that income exclusion.
 
Also, consider getting a dollars account in a Romanian bank - that way you don't have to deal with bullshit exchange fees. Instead of paying fees twice (when the money comes in and when it's reinvested), you only pay on the spending cash you take out.
 
Mises said:
Beautiful women, but their voices are very similar to Count Chocula's.
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Pretty funny, but on the real though, Romanian women are some of the most feminine sounding pitched women I've ever encountered.

Source? Visiting Romanian for months on end and dating them.

Now if you wana hear a Count Chocula voice, visit any restaurant in the US and be greeted by one of the female cigarette voice box masculine bishes that are so rampant in them.
 
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