Should I renounce my US citizenship to avoid taxes?

There is always an option to renounce your US citizenship if you want to avoid US taxes.

After renouncing you wouldn’t be required to file your us taxes anymore. However, renouncing your citizenship will cost you $2,350*, and you could also be subject to an “exit tax”.

Additionally, tax obligations before renouncing will remain until you fulfill them, regardless of whether or not you renounce your US citizenship.

You can be subject to exit tax if you haven’t filed properly for the last five years, if your net worth is more than $2,000,000 on the day of renouncing, or if your us income tax liability amounts to more than $165,000

Additionally, you could lose your right to enter US among other privileges. Something not to take for granted.

*This sum is subject to change