DrPhibes

5 minutes ago, maesariang said:

Mosquitoes?

Nit noy, very pleasant!

14 minutes ago, newnative said:

      Thanks for your interesting post.  I'm curious regarding the $61,750 tax-free figure you mentioned, which I am not familiar with.  Is that for higher income levels?  (Which I am also not familiar with, more's the pity!)

      In 2023, I had Social Security, Virginia state pension, and dividend income for a total of around $50,000 in income for the year.  I ran my taxes with both Turbo Tax and Tax Act on-line tax preparers and they both came up with around $1,500 in federal tax still owed, on top of what I had already paid.  To add insult to injury, I had to also pay a small penalty as I didn't have enough tax taken out during the year, which I have, hopefully, remedied for 2024.

He is focusing on Capital Gains income which have different rules on when tax obligation starts to be generated.  If you don't have much ordinary income but a good chunk of capital gains, you can hit a fairly high amount of income before tax starts to show up. 

Copy of a post I did in another group:

So, a lot of this has to do with reporting and ability to enforce this potential new Thai tax situation for us as tax residents.  I am an American citizen.  Thailand participates in FATCA Model 1 where Thailand reports my accounts in Thailand to the US but the US does not report accounts to Thailand.  The US does not participate in CRS so no information to Thailand through that system.  If Thailand wants a Tax Clearance letter from the IRS, it only says I have filed my returns and they are paid up.  It offers no information about income, so nothing there.  So, Thailand trying to find out what I have in the US is impossible at this point so it makes enforcement due to discovery of my US accounts pretty much impossible.   A good chunk going forward being brought into Thailand will be my Social Security which is not taxable to Thailand according to the DTA. However, If they ask for my US income tax returns, I'm leaving.

So, a lot of this has to do with reporting and ability to enforce this potential new Thai tax situation for us as tax residents.  I am an American citizen.  Thailand participates in FATCA Model 1 where Thailand reports my accounts in Thailand to the US but the US does not report accounts to Thailand.  The US does not participate in CRS so no information to Thailand through that system.  If Thailand wants a Tax Clearance letter from the IRS, it only says I have filed my returns and they are paid up.  It offers no information about income, so nothing there.  So, Thailand trying to find out what I have in the US is impossible at this point so it makes enforcement due to discovery of my US accounts pretty much impossible.   A good chunk going forward being brought into Thailand will be my Social Security which is not taxable to Thailand according to the DTA. However, If they ask for my US income tax returns, I'm leaving.

Crazy career life.  Medical Technologist, Aerospace Engineer, and now Enrolled Agent with the US IRS self-employed owning a tax prep business. Degrees in Chemistry, Medical Technology, and Chemical Engineering putting myself through university 2x with almost no loans, worked while in school. Now enjoying the good life here in Thailand!

2 hours ago, Pouatchee said:

 

this is for canada, but i guess same all over

 

 

this is from us

 

 

this is for uk

 

 

this is into thailand

 

 

cant find any mention if you bring more... taxed or not.

but you can get in serious trouble if you dont declare having more than 20k

But leaving the US, you have to declare $10,000 or more to US customs.

I know this is an old post but FYI, I am finding it more and more difficult to get into State and local gov websites to take care of business.  Have to use a VPN (Nord).  Now, Citibank has always let me in while using NORD set to CA, but now will no longer let me send a wire while using it.  Took an hr talking to 3 different Citi "experts" for me to realize the problem before they did.

Banks want more security but want us to use less, go figure...

What is going on with the $ to baht exchange rate?   Thai economy on a down slope while US economy strong, almost too strong 

Hi guys, slipped off the runner of my truck Halloween morning 2023.  Was recovering over time but that recovery has slowed to a stop.  MRI now reveals torn right knee meniscus.  Need a recommendation for surgeon if any of you have had it repaired.  

As always, thanks in advance!

As a former aerospace engineer....  Bwahahahahaha!

4 hours ago, acepredator said:

Where did you get this ridiculous idea from? You cannot marry a woman, die, and then have your widow get 50% of your Social Security system benefits for the rest of her life. That's simply not how the system works. In order for the spouse of a deceased beneficiary to receive any benefits, the spouse must himself or herself be eligible to receive benefits on their own. This means that they must be at least 65 years old (spouses cannot take early retirement at 62), and they must have a social security number and have paid into the system for at least 40 quarters. Do you really think that I could marry a thirty year old woman, die a week from now, and then have her receive half of my benefits for the next fifty years? If you think the United States government is that generous, then you don't know much about how the government works. I suggest that you do a little research first before you submit such a ludicrous post as the one you submitted.

 

 

I will be collecting my normal Social Security in Oct eventhough I am still working.  My 20yr younger wife has never worked.  We have a miracle 6yr old. When I start collecting, my wife and 6 yr old will both start collecting off my SS.  All told, adding their SS and mine hits the family max which is about 2x my SS per month.   Wife will get it until the child turns 16 and the child gets it until he turns 18.  Maybe you should be doing your homework before making such statements.   Enrolled Agent with the US Internal Revenue Service 😉

When I die or not, she will be able to get Social Security off my earnings once she hits 62.

3 hours ago, buriram39 said:

Shrimp are not prawns, not even in the same biologicaln family.

But they are both yummy crustaceans 😉

39 minutes ago, John Drake said:

 

And higher prices for Thai consumers. Just as with durians.

Yup, say goodbye to the prime large shrimp unless you can get it from the producer before the middlemen get'm.

On 8/31/2024 at 1:54 PM, CMBob said:

I don't question that somebody at the RD may have told you that (or that's what you understood they were saying). however, let's use our brains to understand how this will work per what you say you were told (and I'll use 2024 tax year as an example and presume you're a US citizen).

(1)  The Thai tax return would be due to be filed by March 31, 2025.

(2)  The US tax return for an expat isn't due to be filed until June 15th, 2025 (although one has the right to file early, let's say by April 15th, 2025).

(3)  If you're real lucky, obtaining a tax clearance certificate (a/k/a Tax Compliance Report) from the IRS would take 6-12 months after you've filed and paid taxes involving your 2024 return.

(4)  It'll be just a wee bit difficult (read: impossible) to have an IRS tax clearance certificate available when you file your Thai tax return.

 

Tax Compliance Letter 6201 is available in your IRS online account approx 7-10 business days after your return or payment is processed (not submission date).  It does not show your income but does show if you still have tax due or making payments or have outstanding payments from past years.  Does show the last 6 years of missing returns or late filed returns.

If you wish to learn more:

https://www.irs.gov/individuals/tax-compliance-report

YA,

That kind of damage Porsche vs motorbike, one or both had to be seriously speeding.

I know a young woman, very educated and world traveled, in the Thai aerospace sector.  Both of us agree, the fact that there is such low maintenance that the planes are not hardly available for training.  Bad training leads to...

Also,

Just because you renew it early, it does not change the date you get stamped, at least in Chiang Mai.  Did mine a month early, still have to come back to immigration about a month after the expiration date of the last extension to get stamped.

30 minutes ago, MalcolmB said:

I would be amazed if I didn’t have herpes.

Mathematically speaking.

Everything else is currently cured, that I know of.

 

And you?

Maybe does have, only a small percentage who have HSV-2 ever have recurring breakouts.  That does not mean they can't transmit it.

https://www.hims.com/blog/is-asymptomatic-herpes-a-thing

Also, most of the world has HSV-1, better know as fever blisters or cold sores.  There are other Herpes variants, some we get as kids, mild fever, goes away and does not recur.

There are 9 HSV variants.

Soooo, it's the end of August soon with 22 million tourists to date and the projection is 200 million total by the end of the yr?  Did I miss something?

Evolving?  Even evolution makes mistakes!