If I live in Mexico, do I still have to pay US income tax on money coming from the US?

I have to point out that I am not a CPA or an American, but I have certainly heard enough about this from what I have read and from Americans who I have met and who have experienced this first-hand.  The bottom line is that, unlike Canadians, Americans are taxed on global income no matter what their residency status.

 

As understand it, if you are a US citizen, no matter where you live and no matter where the money comes, you are required to file a US...

I have to point out that I am not a CPA or an American, but I have certainly heard enough about this from what I have read and from Americans who I have met and who have experienced this first-hand.  The bottom line is that, unlike Canadians, Americans are taxed on global income no matter what their residency status.

 

As understand it, if you are a US citizen, no matter where you live and no matter where the money comes, you are required to file a US income tax return. There is a foreign-earned income tax exclusion that allows you to exclude a certain amount but other than that, the only way around it is to renounce your American citizenship.

 

(Alfredo Harp Helu former owner of the largest Latin American and Mexican bank Banamex, pictured.)

Yes. You must file US tax returns and perhaps owe US taxes no matter where you live in world.

 

So long as your income exceeds the minimum amount required to file a US tax return, you must file each year no matter where you live in the world. You will not be double taxed since if you do pay any foreign income taxes in Mexico, you can claim them as a credit against your US income taxes and if you earn income you can also claim the foreign earned income...

Yes. You must file US tax returns and perhaps owe US taxes no matter where you live in world.

 

So long as your income exceeds the minimum amount required to file a US tax return, you must file each year no matter where you live in the world. You will not be double taxed since if you do pay any foreign income taxes in Mexico, you can claim them as a credit against your US income taxes and if you earn income you can also claim the foreign earned income exclusion, which is over $100,000 per year.