Got an age gap marriage to an Isaan girl. She’s sexy, hard-working and appreciates a little money. First thing she did after marriage—get her high school equivalence degree. We live in her village, and a small house on the coast. No regrets
This begs the question: What should they do with the rise of looters, more and more brazen and aggressive? And does anyone think a $900. limit for free shoplifting is a good thing in California?
Good points. But I would counter that the USA and other expat countries have signed tax treaties in force. And in the USA, the Internal Revenue Service has absolute power over our tax situation, wherever we live.
That gives me an idea: how about a dedicated Social Security account at the Thai bank—but use Wise to fund it? We could prove we send the same $$ amount each month, by referencing the rate that day on the Wise site. It might be worth a try.
This is a worst case example. More likely this whole taxation BS will fall by the wayside.
Yes, bringing Social Security direct to a separate Thai bank account seems like a safe idea. The reason I don’t do it now—I get a better rate with Wise than a bank exchange rate, and I have no control on the rate when SS comes in near the beginning of the month. Right now, I have the luxury of waiting for the best rate.
That would depend on where those capital gains and dividends came from. In the US, money in a Roth IRA came from after tax investments. And money in a traditional IRA is tax deferred—Uncle Sam will assess the tax—not Thailand. The long arm of the IRS reaches American expats. If they tax us—they need to protect us from double taxation.
I took my Thai wife to CA just before the Wuhan flu. Even then, we saw homelessness in SF, brownouts in the Tahoe area, and a dry waterfall in Yosemite. But Sonoma/Napa, Carmel/Big Sur and Hollywood did not disappoint. Have a wonderful trip.
Now looks like two factors could drive out expats from LoS: An extended period of Baht inflation, and/or a taxation of our pensions, dividends, interest and cap gains brought into Thailand.
I file jointly taxes every year to the IRS. I even pay Estimated Quarterly taxes when appropriate. As a retiree, I don’t normally owe much if anything.
In return, I collect Social Security. No way I would give it up for Thai citizenship.