Bob -

Edited by Ray - 02 October 2011 at 02:55

Originally posted by spongebob   @Cearça: The country's #1 asset is the people.   The whole stateless issue is crap.

I claimed to be a native born american? When? where?

I have to admit that there have been quite a few extended periods of time during which I am not sure exactly what I said or did, but I am pretty sure that I have never PUIed (posted while under influence)

As far as being an intellectual I am afraid I do not make the cut. I am just a learner, I learn with everybody. I even managed to learn some code meanings with you.

As far as my 411 is concerned (I had to wikipedia it....), I´d prefer to limit it to exposing my CRECI number and my web site on occasion when I opine on some professional regulation and ethics covered topics.

Have a nice Sunday, Ray.

Edited by BorisG - 02 October 2011 at 03:45

Originally posted by spongebob What happened is when I took my head out of the sand late last year, I saw all new rules and regulations that basically penalize and make life difficult for American citizens abroad.

Oh, so this is all about the FBAR filing.

Originally posted by spongebob I find it completely absurd that they say that you have to declare your checking account you have at Banco do Brasil or else, you are committing fraud.

If all you have/had is a checking account (non interest bearing) then you could file your current and past FBARS no problem. If you, on the other hand, had interest bearing accounts in Brazil and didn't report the interest* (and check the appropriate boxes) on your US IRS filing, then well maybe, that's fraud. At least there are penalties for that type of misbehavior. I know a little on the subject because I straightened out my 'FBAR' status this year. (* and didn't pay any taxes due)

Originally posted by spongebob I know it's a big case of "jogando verde" (what's a good translations for that, by the way. I think it's "bluffing") and they are REALLY refering to US Residents, but the principle is what irritates me the most.

I agree that the FBAR thing was badly conceived in that it is overly burdensome on, and likely to be ignored, by overseas residents. Maybe it will get straightened out. But I think that will require people to complain and find an advocate.

Originally posted by spongebob So I will vote with my feet.

A vote unlikely to be heard and certainly no solution to your possible debts to the IRS. Have you spent any time venting on your elected representatives?

Originally posted by spongebob I guess I'm in unique situation.

This is a common misconception.

Originally posted by spongebob My intent on posting this stuff here was to see if I could get some additional opinions.

Too bad your business isn't in your wife's name.

Best Luck!!!




Edited by DUNGA - 02 October 2011 at 09:23

Dunga,

1) The business IS in the wife's name.

2) "Unique situation" was directed at Ray when he was saying that when the Brazilian bubble bursts, I'll be broke. I'm not reliant on income in Brazil, nor dollar savings. It's all good, and I'll take money any way that I get it, but there can be a downturn in either country, any stock market, my family will be OK.

3) The FBAR situation has never applied to me in the past - I never had any accounts in my name in other countries - but the way the FBAR situation has been handled up to this point is mind blowing (at least for me).
I just recently started taking money out of America. I'll file my last return, with all the declarations and then sayonara.

4) yeah, I know -- no one in America cares about expats. I don't care; it's my life. I'm already a lot freeER than they are just by not living there.

5) Thanks.

@Fortaleza - [OFF TOPIC] I watched all the Sean Goldman videos last night and thought about it this morning. I think that the Brazilians were correct to take time to resolve the situation. Quem tem pressa, come cru. My first thoughts were:

1) Is the dad married? Is the buy going to move to America and live some lonely existance in America with a single father?
2) Why did the mom never want to return to America?
3) In 4 years, why did the dad never even step foot in Brazil to see his son?

I wish that I could see how they are living now because I have a bad feeling that #1 occured. Americans have to get it through their heads that everything is NOT better in America for everyone and when people disagree, don't take it personally.

In this case, I hope the dad wasn't so "driven" to have things his way (selfish) that the son ends up losing. After all, I think the dad could have easily gotten a visa to come to Brazil to visit his son at his grandparents' house. I think it's great that my son has grandparents in Brazil, godparents, and tons of relatives. I'd never want him to have the cold lonely life I had in America.

In general, I think that the Americans follow rules too closely and the Brazilians tend to adapt rules to fit their own situations, but at the same time they take a much more humanist perspective. I know I'm probably going to get bashed for this, but that's one reason I like living in Brazil more.  Since we are dealing with people, nothing can be purely mechanical in regards to dealing with people.