HOW TO PAY ZERO TAXES WHILE TRAVELING THE WORLD FOR US CITIZENS

There are only a few strategies for avoiding taxation, and in this email, I will talk about the easiest one that doesn't involve moving to a tax haven and renouncing your US citizenship. If you are a US citizen or resident who works remotely or has a business that can earn money remotely, then you may qualify to exclude your foreign earnings from income up to an amount that is adjusted annually for inflation ($107,600 for 2020, $108,700 for 2021, $112,000 for 2022, and $120,000 for 2023). In addition, you can exclude or deduct certain foreign housing amounts.

The only requirement is that you stay out of the US for at least 330 days of the year and pay no taxes to the US government. You cannot stay in any location long term to avoid becoming a tax resident of a foreign nation and paying their taxes. It is important to note that the US taxes you regardless of where you live, so if you’re constantly moving around without staying in a foreign country long enough to become a tax resident, you won’t have to pay taxes to either the US or the country you're living in. This means you are limited to only a month in the United States.

It is essential to understand that the 330 qualifying days do not have to be consecutive. For more information, you can read the blog post from the IRS: IRS - Foreign Earned Income Exclusion (Physical Presence Test) IRS - Foreign Earned Income Exclusion

This process may seem complicated for some, but it is a small price to pay or not pay for the freedom it provides.