Yeah this is an option. There is a fee and and exit tax audit. But I travel to the US frequently for visiting family and business and I worry renouncing would lead to border crossing troubles. Im not living outside the US because Im anti US. It’s just where my career took me and then I met my spouse, bought a house, had kids, etc. I don’t want to give up the citizenship of my birth country. So I will complain about the draconian US tax laws but I will probably just endure them for the rest of my life.
I’ve been a US expat in Canada for 21 years, and I can say the time and stress of US citizen based tax law is extreme. But every year I do it, send tons of info to the IRS, because I knew the laws, but I would love this burden being removed. I am not super wealthy, my net worth is ~$3 million which is from
decades of a high savings/investment rate into primary retirement accounts and equity in my principal residence.
On a side note, another draconian US expat tax law, the US will tax US citizens on capital gains over the US limit on the sale of your foreign principal residence. Crazy right. Don’t live the US, maybe never have, but if you have US citizenship, accidentally or not, or a green card, they can tax you on the sale of a principle residence located outside US jurisdiction.
The US/Canada tax treaty is good in the sense I rarely pay double tax, except for some special circumstances (stock options), but it is a ton of paperwork, information, and stress that I didn’t mess something up. I worked in Germany for a couple of years, and when I wasn’t a Canadian tax resident (I am also a Canadian citizen) the Canadian Revenue Agency didn’t care about my German income and I didn’t have to file any information for it. It was bliss. But of course the US IRS cared. This tax filing years were nightmares.
If there are 190k Russian troops amassed at the border of Ukraine, wouldn’t this be an opportune time to take them all out? Trade offs being ethics and retaliatory considerations. I mean what is the end game here? Back to the status quo? Russian history has proven over and over again they will never likely be an open and forthcoming ally of the “west” for very long.
If the two cups of coffee are for one person, I don’t think you want them at the same time, one might get cold.
I think you can start to heat again sometime during the drip phase. Start to enjoy your first cup while the 2nd cup is heating. Then the time between 2 cups being ready is shorter than option 1 and not at the same time as in option 2.