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Everything posted by timendres
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I question if the transaction would count as "bringing money into Thailand". The transaction you are describing is a loan, not an income, which is what Thailand is taxing. In reality, money was handing to the Thai merchant by your bank. not by you. And when you pay off that credit card with your home currency, that transaction does not get involved with Thailand. Maybe someone knows better than me, and can clarify this point. I did not read the details of the recent excellent post I saw, which may have answered this, so you might wish to consult that:
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The only money I bring into Thailand will be my social security. So it is simple for me. If you are bringing in other money, you will likely have to do the double tax agreement stuff to offset any potential Thailand tax with the taxes you paid to the US Treasury. I suspect I will still be required to file a return to show the social security and claim that I owe nothing. PITA, but what can you do?
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Honestly, I cannot answer that question. Since the income is not subject to tax, that would suggest you do not need to file. However, since it is over the minimum income required to file, and it will register money transfers to Thailand (mine is deposited directly), then it might require the filing stating "no tax due". The only benefit to having to file, is if you are parking 800K like I do, it gives you the opportunity to reclaim the interest withheld by the bank. Not a lot of money, but if the filing is mandatory, then I will collect to offset the "expense" of producing the filing.
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Thai Exchanges Lost Their Edge
timendres replied to MangoKorat's topic in Jobs, Economy, Banking, Business, Investments
Pointless. -
What is wrong with Thai women (on dating websites) in 2024
timendres replied to StayinThailand2much's topic in General Topics
Those sites are the best venue for gold diggers, and, thus, they are full of them. The girls you actually want to meet are not hanging out there in any real quantity. Have met a couple of good ones over the years, but they are quite rare. -
This is why I love townhouses. As well as taking delivery. So much easier.
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Do you still keep up with news in your home country?
timendres replied to georgegeorgia's topic in ASEAN NOW Community Pub
Exactly. The US Government is the "manager" of my retirement fund. I need to stay aware of how badly they are handling that responsibility. -
They are sold in virtually every 7/11. In Thai - Yaa Dome
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Foreign man arrested for sexually harassing teenage Thai girl
timendres replied to webfact's topic in Bangkok News
I have actually heard two stories, first hand, of girls who were lured to locations for "job interviews" that turned out to be nothing more than an attempt to get sex. -
US citizen, better to marry Thai in US or in Thailand (registered)?
timendres replied to JTXR's topic in Marriage and Divorce
Actually, my wife went from a full time job and independence in Thailand to being a housewife in the US. What she hated was the colder weather, the food, the cultural differences, and missing friends and family. She did love a few things, like the fall colors and the natural beauty of my location. -
Thai baht predicted to appreciate amid expected US interest rate cuts
timendres replied to webfact's topic in Thailand News
Emphasis on "newly created jobs". If we see a serious recession, companies will cut jobs. However, I believe you are correct that, outside of recessions, unemployment should remain quite low for many years. Unless AI and robotics change the landscape dramatically. -
Thai baht predicted to appreciate amid expected US interest rate cuts
timendres replied to webfact's topic in Thailand News
I did not state that I "know what the Fed will do". I talked about their likely actions within a given context. The Fed has two mandates from Congress - price stability and full employment. They have a third "mandate" that is not from Congress - stability of the financial system. They are achieving their price stability after the recent inflation spike. This does not require them to reduce rates, and they will be inclined to keep them high for fear of re-inflation. However, the yield curve inversion, and slowing economies in Europe and Asia, suggest unemployment is the more likely force on the horizon. If unemployment remains low, interest rates will remain (relatively speaking) high, unless the third mandate comes into play. If unemployment marches higher, rates will come down. So, if you say that I cannot predict unemployment or inflation or bank stability, then you are absolutely correct. But I can predict what the Fed will do once those forces are determined. Anyone can. -
Thai baht predicted to appreciate amid expected US interest rate cuts
timendres replied to webfact's topic in Thailand News
The Fed will begin cutting rates as soon as unemployment begins to show consistently rising numbers, or the financial systems (banks) begin to show trouble that cannot be contained by reasonable measures. Both are possible in 2024. However, this scenario, especially rising unemployment, will be the result of recessionary forces, which we already see in virtually every other major economy. That will, in turn, affect Thailand negatively both in exports and tourism, which will likewise make the THB weaker. -
U.S Social Security Payments Late?
timendres replied to Mitkof Island's topic in US & Canada Topics and Events
I have found that email support from Manilla is typically good. Rarely took more one or two days to get a proper reply. And... I also got my deposit on the 3rd. -
Cambodia e-visa
timendres replied to brianthainess's topic in Visas and migration to other countries
It was silly of me. I had not left Thailand for 11 years, and I had some older 100's from the US. I was hoping to move them in Cambodia, as no exchange will accept then here. I was ultimately able to spend them in a couple of restaurants. -
Cambodia e-visa
timendres replied to brianthainess's topic in Visas and migration to other countries
And the hassle of needing acceptable $100 bills. I showed them 2 different 100's and both were refused. Fortunately I had a $50 bill that they would accept. -
It is my understanding that the matter is not a question of "number of border runs", but more a question of time spent in the country. Three months, or roughly 90 days, should not cause a problem, if managed properly. It could easily be seen as an extended "South East Asia tour". The two week stay in the Phills will make it appear more so. Even better if you have another long stay on the second border hop. Say in VT or KH. I think entering via air will be best, and be certain to be able to show your exit flights. It would be even better if on the final entry, your return flight is back to your home country. If you had all flights booked ahead, then if there were any real questions, you could show your intent to "tour" SEA and return home. The real problems start when you spend more than 120 days in Thailand within a 12 month stretch. A friend recently spent 6 months in Thailand doing border hops every 30 days, but began to get interrogated on the last two entries.
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Bitazza Exchange: A Foreigner-Friendly Alternative to Bitkub
timendres replied to racket's topic in Cryptocurrency News
NOTE: As usual, US passport holders are not accepted. -
MBK will have tons of used iPads for sale. Also, Fortune across from Central Rama 9 has many vendors selling used iPads. I prefer Fortune, but MBK is likely to have more choices. As noted above, the battery is the biggest concern, although it is easily replaced when it the time comes.