Questions when leaving US

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newperson09
Posts: 17
Joined: Thu May 04, 2017 11:09 am

Questions when leaving US

Post by newperson09 »

1. After working for few years in the US, if I decide to leave US will there any exit tax?
Status: TN visa (no greed card).

2. Is there any number of years that will cause exit tax?
3. In order to enjoy social security benefit, one has to work for 10 years in the US. Does it have to be continuous?

thanks
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Questions when leaving US

Post by nelsona »

Under rules since 2008, one who is not a citizen nor has had a Green card is not subject to expatriation tax.
One tip to recognize is that if you do not sell any investments that have grown until after you leave, you will not be taxed on the growth in US, nor in Canada.

Social security eligibility is based on Credits, not years of work, and the credits, earned maximum 4 per year do not have to be continuous. To be eligible for SS you need to earn 40 credits, or you need to earn 6 credits and have work in Canada for 8.5 years at some point. To be eligible for Medicare, you need 40 actual US credits.

The more US credits you earn, the more SS you will get.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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