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NoDisplayName

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Everything posted by NoDisplayName

  1. Passbook update machines are located outside many banks, and in most major malls. Don't need to go in during business hours and take a number.
  2. WISE just shut me down! You just made the innertubes!! Uploaded 4 hours ago.
  3. How will that affect transfers into and out of Wise? Is a US address required, having a US-based Wise account, in order to use the domestic ACH interbank transfer network? If you have a non-US address can you still link your Wise account directly to US banks and credit unions?
  4. Could you ask them about filing online? Phrase it like you're doing them a favor by not having them wade through all your unnecessary bank documents. Ask if you file online, and only enter the totals for each type of assessable income, will that be correct? Insist that you will maintain the Wise and bank documents and can produce them if requested.
  5. Cool beans. I believe you're doing much more than necessary, but I can't fault you for that. You've filed successfully and appear satisfied with the result. Congratulations, good job. Have fun until next time.
  6. Multidimensional gremlins cause disease? Well, it's just a theory.
  7. Why do this, unless it's for the 800K? You'll be paying 15% tax on the interest, and will have to file a tax return for a refund. Buy one of the bond mutual funds paying 2.0-2.5%. Not a fixed term, you can sell any time. With account set up, you can buy/sell online. Even better, the funds don't pay dividends (would be taxed at 10%), the earnings are folded into the NAV. When you sell, your capital gains are tax free.
  8. I love it when flat earf'ers and reptilian Illuminati conspiratorialists and creationists use that line!
  9. Great find! Tinfoil underpants conspiracy theories posted by anonymous entities on the innertubes are super credible. At least it's not a chiropractor calling hisself a doctor.
  10. Yes, why would you? If you mosey on over to the Tesco strip mall, right next to the arcade and the baf'rooms, they have coin-operated coffee dispensers that charge either 5 or 10 baht for a cuppa joe! Then you can sit in the food court for FREE, and enjoy the lukewarm air conditioning for FREE! You can even use their napkins and utensils for FREE, followed by a trip to the john, also for FREE! Livin' life to the max!
  11. Maybe, but why take the chance? Wait until we know how this will work in the reality.
  12. You missed "he can become non-resident for a year." Sell and remit during that non-resident year.
  13. The words "fundraiser" or "funds" only appeared five times in the article.
  14. Perhaps I was unclear. If an expat currently tax resident in Thailand wants to remit large sums, including assessable capital gains, he can become non-resident for a year. Sell the asset, realize the gains, earn the income. Taxable perhaps in the home country, but not assessable when remitted to Thailand. If only partially remitted, I believe he can bring it over in later years tax free. That was what I meant by "earned non-resident + remitted non-resident = no PIT." Do the thing all in one year and you're safe.
  15. I did the math. As of January 2024, the average monthly Social Security retirement benefit is approximately $1,907. If you don't pay tax, you don't get a tax cut. Not my problem. However I'm more than willing to donate your social security check to charity.
  16. exempt = non-assessable = not taxable = not reported only US social security = all exempt = no return = no TIN You don't file a return with an attachment detailing all remittances. You only put the total ASSESSABLE remittances on the return.
  17. First - Seems sensible, until it's not. If audited (unlikely), what documentation would be required, and how far back would it need to go? Prior year? Pre-2024? Let 'em try to track capital that has been recycled continuously over the course of a few years! The concern is, they can't figure it out, and as with the IRS you're guilty until proven innocent, you pay the tax and have to appeal. Second - That's the way it's always worked. Bring in 20 million to buy a luxury condo, earned non-resident + remitted non-resident = no PIT. That won't change, even if we've lost the prior-year loophole, but some poor souls may be asked to prove it. Third - Remittance taxation is a joke. Unless your bank account is isolated from your brokerage is isolated from your beanie baby collection, and the remittance immediately follows the transaction, being sent directly from the isolated account to your Thai account without intermediaries......well, that's why self-determination is a thing! It is what I say it is because I say it.
  18. Super easy, barely an inconvenience! US sociable security is 100% non-assessable. If that is your only source of foreign income, you have no assessable remittances to declare, no need to file a return, and no need to get a TIN.
  19. Up to 85% of a taxpayer's benefits may be taxable if they are: Filing single, head of household or qualifying widow or widower with more than $34,000 income. Married filing jointly with more than $44,000 income. Married filing separately and lived apart from their spouse for all of 2021 with more than $34,000 income. Married filing separately and lived with their spouse at any time during 2021. https://www.irs.gov/newsroom/irs-reminds-taxpayers-their-social-security-benefits-may-be-taxable I shall wish.
  20. It would not. US sociable security is exempt by DTA. The US choosing not to tax doesn't change Thailand's inability to tax. Abolishing socsec tax would be maga-nificent!
  21. Sure, you can open a brokerage account as a non-resident alien, fill out the W8-BEN, and you'll have tax withheld on interest and dividends according to your DTA, with no tax return required. For Thais it's 15%, for Chinese 10%. But capital gains are not taxed. Stick with capital appreciation funds, or stocks, not paying dividends, and you pay no US tax. Sell and remit in a year not tax-resident in Thailand and your gains are not taxed here, either. Winning!
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