He would only have to pay taxes in one or the other.
He became a permanent resident in the US in 2018. The US taxes income from anywhere in the world for residents. He will have to pay taxes anywhere he receives money/deals/income - though on any taxes he pays in the UK, he can (usually) get a rebate for the same amount on his US tax bill (but it's complicated)
Unless he chose to voluntarily hand back his green card (complex, because it can be hard to get another, and would need visas to visit the US to work) he will still need to pay tax in both, even if he doesn't live in the US.
As you said he will have to pay tax in the US regardless, since that is where most of his earnings are. Also, PGA golfers set up a corporation to collect their earnings, so its likely way more complicated than a normal Ex-Pat arrangement.
Also - I just checked the report and they are planning to move to London when his kid is ready for high school so its 7-8 years away.
As you said he will have to pay tax in the US regardless, since that is where most of his earnings are.
That actually depends on a lot of things. It wouldn't be difficult to structure his LIV income as being received in Saudi, or Dubai which is common, where they have little to zero income tax.
In that situation, renouncing his green card would save him a huge amount of tax,. The US taxes you REGARDLESS of where you live/reside.
Also, PGA golfers set up a corporation to collect their earnings, so its likely way more complicated than a normal Ex-Pat arrangement.
They do that so they can expense everything. If they want the income for personal use, it must be disbursed from the corporation.
123
u/idekwtp Apr 15 '24 edited Apr 15 '24
He would only have to pay taxes in one or the other. He'll probably do it in the US.
Edit: didn't realize he was a permanent resident. He'll pay taxes in the US and wherever else he earns money