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Tax questions.....

 
Freeflyva
(@Freeflyva)
Active Member

Hi......just wondering if any of you could answer some tax questions regarding the VI.

1) Is it possible to own a house in the Continental US....and still claim VI residence?

2) Can you still claim VI residence....if you make you money on the internet...specifically.....trading futures? (US markets)

3) Is the internet service fast enough to support daytrading?

It's a long shot.....but I thought I'd try. Thanks for any info you have.

Quote
Topic starter Posted : August 10, 2009 1:10 am
East Ender
(@east-ender)
Expert

I don't know the answer to the other questions, but I know people who day trade. They also have other jobs though!

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Posted : August 10, 2009 1:18 am
dntw8up
(@dntw8up)
Trusted Member

You can own houses all over the world and it doesn't affect your residency status. You place of residence is the location where you can PROVE you spend most of your time.

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Posted : August 10, 2009 1:38 am
Jules
(@Jules)
Trusted Member

From prior posts and topics I'd say that some people have faster/better/more reliable internet (and electricity) services than me, but I'd still be very nervous about day trading. My internet connection slows or goes down with much more frequency than I had with any stateside provider. Power has been more reliable this summer (oh no-- hope I didn't jinx it) but for the last few summers it went out almost daily or even several times a day (again-- that was location-specific). It could be devastating to have that happen while trying to make a timely trade.

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Posted : August 10, 2009 9:52 am
stxfoodie
(@stxfoodie)
Advanced Member

The answers are as follows:

1) yes
2) yes
3) yes but you'll need some redundency (sp?). Think Fatpipe with backup provider.

Regards -

STXfoodie

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Posted : August 10, 2009 12:07 pm
lc98
 lc98
(@lc98)
Trusted Member

Good morning freeflyva,

I echo STXFoodie about redundancy. If I were going to try daytrading here, I would want satellite Internet service and at least one form of backup service-- an AT&T aircard, and /or DSL broadband. This would also require living in an area where both satellite and the aircard work well.

Good luck to you!

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Posted : August 10, 2009 3:53 pm
Freeflyva
(@Freeflyva)
Active Member

Hey thanks for the replies..... I really appreciate it.

ReplyQuote
Topic starter Posted : August 10, 2009 5:21 pm
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