>
Date: Wed, 24 Oct 2001 15:42:44 +0200
Hi Frederic,
I think that your understanding is correct. I was in a similar situation 3
years ago and I can add a few comments:
- In principle, you can keep your Green Card for a few years, provided you
come once a year to the US (for business purpose) for a certain number of
days, to reactivate it.
- I personally found it very interesting to keep it at the beginning and to
fill in a US tax form the first year following my return to CH; as a matter
of fact, because of changes in my family (kid) and job situation (transfer
period between US and CH without income) and moving expenses (which you can
deduct), I was able to recover about 5000$ ( :-) ) from what I had paid as
taxes in the US the previous year.
- In your US tax form, you can either deduct a fixed amount (80'000 $) or
more, from a detailed item list, if you think that you are entitled so,
(for instance day care expenses for kids (very high in CH !!!)); the pain
is of course that you need to justify any item with "receipts" in English.
Depending on your situation this may or may not be worth doing.
- To give up definitely with you Green Card, you need to send it back to
the US Embassy in Bern, stating that and why you want to do so.
I hope this helps.
Best regards,
Thibaud.
"Frederic Dufaux" <fdufaux_at_genimedia.com>@ars.net on 23.10.2001 12:04:06
Please respond to <fdufaux_at_genimedia.com>
Sent by: owner-swiss-list_at_ars.net
To: <swiss-list_at_swiss-list.com>
cc:
Subject: swiss-list: Green card and moving back to CH
I have a green card and I recently moved back to Switzerland.
My understanding is that I have to fill a tax return in the US. I will be
taxed on my worldwide income but I will be able to deduct an amount around
$80'000. I will loose the green card after one year unless I visit the US
at
least once a year.
Is my understanding correct? It seems that as I am not considering to move
back to the US in the future I will be better off giving up my green card.
What's the procedure to give up my green card? Anybody on the list in a
similar situation has some experience to share? Thanks in advance,
--Frederic
Frederic Dufaux
Genimedia SA
PSE - EPFL
1015 Lausanne
Switzerland
Phone: +41 21 693 8595
Email: fdufaux_at_genimedia.com <mailto:fdufaux_at_genimedia.com>
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Received on Wed Oct 24 2001 - 15:48:44 PDT
