Google Zurich US tax hit for US citizens
What's a ballpark figure for US taxes being owed for US citizens working in Zurich, for a TC in the $300k region?
If you're taxes In a foreign country are less than the us. You owe the us the difference
You'll be fine, since taxes in Switzerland are higher than in the US.
Lol. There are many different taxes in Switzerland but all of them combined won’t exceed 22-25%. How much you gotta pay in Cali? 45%?
Double check this but I think Switzerland and US have a tax treaty. So you pay your taxes in Switzerland, file taxes in US but deduct all the taxes you paid in Switzerland so you should owe $0 to US govt.
Taxes in Switzerland are probably lower than Us taxes and there are deductions that are not the same. I want to hear from someone who's actually in this situation.
I would be very surprised if that were the case. But if it is, it’s still the same process. When you file American taxes you deduct whatever you paid in Switzerland and then pay the difference. I just ran through a Zurich tax calculator and for googlesque salaries your tax rate would be 40-50%.
credits. so your total will be same as US.
But compared to nonUS citizens who pay income tax based on residency, not citizenship, total will be more. I want to get a ballpark figure of cost of US citizenship for someone with a ~300k TC working in Zurich. Also, some deductions are not accepted when filing Us taxes so slight double taxation can still occur.