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Hey, thanks for that. I see he's got 2024 tax spreadsheet, and a 2025 forecast spreadsheet available. Nice, considering we're over halfway through tax filing season, and TRD still hasn't published the much-anticipated 2024 Engilsh forms. Sad, considering all they need to do is put "2024" on the top line of last year's form!

Thanks so much for the response. This crap is insane! I want to keep it as simple as possible. Filing married separate in the US, as don't want a US ITIN for the wife. I keep my cap gains to a couple dollars below where I would owe tax. So no US tax, or foreign tax paid by ETF's, to claim a credit against. No need for a foreign tax credit....but useful in cases like this year where an unexpected distribution put me over the top. $300 should cover it. I file a Thai return (too easy!) to get a refund of interest/dividend withholding. No assessable remittances = null return = no tax credits. I declare Thai interest and dividends on my 1040, with the Thai tax return as documentary evidence if audited. That's factored into the spreadsheet income calculations when doing the year end cost basis increase sales taking capital gains to make $60K including dividends. Uncle Sam is happy, yet no tax paid. Uncle Somchai is happy, also no tax paid.

Correct. There is no field on the form to claim a DTA exemption, thus no way to deduct NON-assessable income from you PIT calculations. Thailand permits taxpayers to self-determine which income is assessable, and only enter taxable income on the forms. Non-assessable income is invisible to the system. There are two posters here that claimed TRD officials showed them they could deduct it, but they entered that into a field to deduct income already reported on Thai half-year tax returns. This would be done manually by the TRD officer, and would require a copy of the half-year return if you tried this at home. Not possible online. Note neither of those posters filed yet, so this is still unverified.

Hi Jim! I have an unrelated but related question, and this seems to be the only active tax thread now. Got my 1099's and was figuring US taxes last night, and something came up that is dear to all our hearts. Foreign tax credit. In other threads we talk about DTA's letting us take 1:1 tax credit if Thailand taxes our already taxed income, or home countries having to eat the tax if we pay Thailand tax. But nobody knows. As to the US, it doesn't seem to work that way. I've got $1500 foreign tax paid via ETF's, and a tax due of $250 due to an unexpected late-Dec special distribution. I try to manage investments to avoid paying tax, and was at $63K total income. Putting the foreign tax on a 1116 has me calculate the percentage of foreign income in my total income, and using that % to calculate the amount of credit. In my anecdote, I can only take $75, but can carry forward to next year. Alternatively, I can skip the 1116, and take up to $300 of 1:1 tax reduction, bringing this year's tax due to zero, but losing the carry forward and potential use of 1116 in the future. Do I have that about right? Any word yet on how Thailand manages foreign tax credits.

Thanks for agreeing it's rayciss, yo.

If you have ancestors who came from ITALY, regardless of melanin content, no, that would not be rayciss. Were there BLack italians? Sure, just ask Netflix 'bout Cleopatra. As for Wakandans, they can claim kinship to Septimius Severus. If you have no ancestors from the country in question, but are granted DEI points for skin color, well, dass rayciss, dawg.

Why, that's rayciss!!!!!

And Zelensky will move non-existent panzer battalions on his little war-room diorama in his Fuehrerbunker. And Steiner will assault Stalingrad any day now, with air cover provided by the Ghost of Keeeeve. And the suitcases full of benjamins and coke will be loaded aboard the helicopters ready for take-off............

Either inheritance or gift, she won't owe tax on the principal. Capital gains (not taxed in US for non-resident alien), if ever remitted, will be taxable as ordinary income, but she'll keep that portion below her TEDA, so still no tax. And as long as she keeps it offshore, she can earn 10% or higher on her investment, as opposed to 1% here in Thailand.

Why make myself expendable? Planning to start off with a million a year until we figure everything out. Can make larger transfers as I approach my "use-by" date.

A few notes on that: Easy online account setup, takes 10-15 minutes at most. Need scan of passport ID page, and something proving residence, like a utility bill. We used her ID card, they had it translated. I used my Navy Federal statement with Thai address for my account. No beneficiaries permitted on this account. Your domestic Schwab account will require the IRS tax clearance (may take a year!) unless you have a stateside law firm handle your will. No minimum balance. Can open with zero deposit. Wife must fill out W8-BEN form and list her Thai ID number to qualify for DTA benefits. DTA provides for 15% tax withholding on dividends and interest, instead of the standard 30%. No tax on capital gains!!!!! Schwab sends withholding direct to IRS and reports. No need for wife to fill out a US tax form. I will sell funds in my Fidelity brokerage, pay any US tax on capital gains there, send cash to Schwab. Well under the gift caps, even for foreign spouses, so no US reporting required for me. We will print off an annual "gift transfer certificate" each year with all relevant info to declare her annual xmas present I am setting up a Standing Order to allow online transfers from my Schwab account to hers. One way only, cash only, so no questions about this being a shared account, and no problems with transferring shares with a different cost basis than NAV. She will buy capital appreciation funds with minimal dividends to reduce any tax withholding.

Form PND90 in English: https://www.rd.go.th/fileadmin/download/english_form/2023/220367PIT90.pdf Instructions for PND90 in Englsih: https://www.rd.go.th/fileadmin/download/english_form/2023/GUIDE_90_66_Complete.pdf There are many words on those five pages, but most won't apply to you. Get the TRD office to help fill in the first time. You need your and wife's ID numbers, address and age. Confirm that you get the over 65 deduction. You need your total pension amount remitted, and claim the 100K income/pension exemption. If claiming interest tax, you need total interest received, total interest tax withheld and the bank's TIN. Enter amounts of any additional exclusions - life/health insurance, social insurance contributions, etc. If you don't want to refund the interest withholding, you don't have to request it. If your income is low enough you won't pay tax, you don't have to claim any additional deductions. Everything else is automated if filing online. Next year you and your wife can do it from home in ten minutes. Other forms available here: https://www.rd.go.th/english/65308.html If you aren't claiming an interest withholding refund, I believe you can use the shorter 3-page PND91, income ONLY 'derived' from employment.

My wife now has her very own individual Schwab International brokerage account. When I am no longer here, my assets will be deposited there. She only has to bring in what she needs, and can remain invested outside Thailand. In the meantime, I can gift her a million baht a year, so that when the time comes, she has funds available. The IRS can take up to a year to produce the tax clearance certificate needed to release your brokerage account. (I believe not needed if handled by a stateside law firm), We did confirm with TRD that gifting rules apply to gifts made into an offshore account.

Musk is a wee tad busy right now. You'll have to take a number.

Deflect, deflect, deflect. But they've already been invaded and bombed. Won't make much difference, then.

Deflect, deflect, deflect! Cancel martial law, then hold a (s)election. Surely all those conscripted autistic teens and crippled elderly will stay at their posts once the nazis aiming machine guns at their backs leave their positions covering the expendables to vote.

Nothing to be a'scairt of, Tom. Some TRD offices send out tax forms as a courtesy service to prior-year filers. If you need to file, you have a tax form. If you don't need to file, you have an unneeded tax form.

Plenty online about CIA setting up SAVAK. Not much available on MOSSAD. A few interesting tidbits in wiki...........a general Schwarzkopf, yes that very same Stormin' Norman's daddy, helped set it up. https://en.wikipedia.org/wiki/SAVAK An Iranian site has a bit of info https://irdc.ir/en/news/26/how-cia-mossad-helped-form-savak

Crimea managed. And Donbass was able to even while under constant nazi bombardment.

You as a single foreigner, non-employed, would likely only take the basic 60K, plus 190K over 65. Assume you have foreign health/life insurance policies. If you're married and file jointly, you add the wife's 60K. If wife is over 65, you might get to add another 190K. ( I DON'T know that for a fact, so better confirm.) A Thai wife likely pays life/health insurance premiums to a Thai company, up to a certain limit deductible. Wives come with relatives that may increase your deductions, depending on specific circumstances. My wife is not working, but paying monthly into the social insurance scheme until 55. Those contributions are deductible. At 55 she then begins to collect benefits. Take a gander at page 5 of the PN90 "allowances and exemptions attachment" and see if anything else might apply. Not that you need to, as you are already well under the tax threshold. https://www.rd.go.th/fileadmin/download/english_form/2023/220367PIT90.pdf

Your benefits are much greater than the sum of your contributions. That other guy over there pays much more, but his benefits are capped, so it's nothing but a cash grab. What is the basis for exempting earnings over a certain limit? That would be the limiting of benefits over a certain limit. Drop the cap on contributions should be followed by dropping the cap on benefits. You want to have that other guys' cake and you and the illegals can eat it, too.

"Go ahead and keep repeating the communist (now also progressive) propaganda talking points."

Well, you can post those isolated incidents. I did a quick googles, and it was about 1) lack of ID/proof of citizenship, and 2) voting in a state never a resident in.

Makes sense. Think of all the additional emergency crews, tow trucks and ambulances, fire fighting equipment, doctors and nurses, blood transfusion devices, etc will be needed! Then you can factor in the new insurance adjusters, road repair crews, auto repair shops, auto parts suppliers! Imagine the "hub of chaos" as half the country drives home after work hammered! Why, just the spending on additional body bags could bump the GDP a couple percentage points, assuming they aren't shipped in from China, but even then Thailand can collect 7% VAT.

I'm almost shirley foreign pensions will go in line 1, as pensions are considered "income derived from employment." Pay attention to which lines to TRD officer fills in. You can do it online next year and save the trouble of a visit to the tax office. Only takes ten minutes. Most of the form is pre-filled, you only add pension and bank interest.