NoDisplayName

Simple, muh man...............landslide election. The people have spoken. Trump will be your President in  14  DAYS  15  HOURS    49  MINUTES  02 SECONDS https://www.tickcounter.com/countdown/6076010/countdown-to-inauguration-day-2025

Dude, don't keep us in suspenders! Where is this paradise? Maybe you could start another thread to discuss it.......would be of interest when planning for possible worldwide taxation.

Sure, many scooters can't reach highway speeds, or aren't safe/comfortable to do so. You'll still get the previously mentioned family of five on a superbike driving the wrong way on the freeway at night without lights. The only way is to ban 2-wheelers completely, seeing as there is no enforcement.

I had read somewhere, long ago, that western road engineers will occasionally ADD unnecessary curves to extremely long sections of straight highway to relieve boredom and improve safety.

I don't want to be the first to find out! I wouldn't expect any problem WISE'ing the wife a thousand bucks every now and then, but if a million-baht transfer shows up in an account linked to a return claiming (joint filing) no salary or income, TRD might take notice. I'd really rather avoid any necessity of arguing with a local tax officer when he/she likely has the law on his/her side that a remittance sent from my account into Thailand into a differently named account is MY remittance, regardless of eventual intended purpose, and I will have to document source of funds. TRD officer can argue, and likely be backed up by actual law, that a remittance of assessable income into my account is taxable, regardless of purpose, and therefore MY remitting to another person is no different, still taxable because I remitted the funds. That might lead to a charge of tax avoidance.

Many scooters can. It's just that's not the way locals (Asians in general it seems) drive them. A family of five on a scooter without helmets traveling at bicycle speed, riding on the white line on the edge of a major highway in the wrong direction at night without lights? Not a great plan.

No money laundering. It's a gift. Not for my benefit. She is to hold the funds in that account until I'm under ground. They are to 'take care her' when I'm gone. I don't intend to potentially pay 35% tax when I don't need to.

That's not what I'm suggesting. If I remit funds to her account or to mine, the remittance is mine. If the funds are assessable income, they may be taxable for me if I exceed TEDA. If I remit NON-assessable funds, they are not taxable.

Yes, but the right construct would be to gift only non-assessable funds to her Thai account. Otherwise, you could logically claim that the 2 million of current year income remitted directly to a car dealership account to purchase a vehicle is not taxable as remitted income as it technically never went into your account.

That would technically still be potentially taxable for you, depending on whether remitted funds are identified as assessable. Regardless of what account the funds are deposited into, they are still under your control when they cross the border, so the remittance is yours. You remit, you pay tax if due. Wife does not pay under 20 million, 5% over that. Some advisors recommend gifting to an offshore account in the wife's name. Would be non-taxable for you (depending on your home country gifting rules) as giver, and non-taxable for your wife until she remits to Thailand, and then would still fall under gift receiving rules for her. I'm currently researching setting up a Schwabb US-based account in wifey's name to receive annual gifts, with appropriate documentation. I stay within US lifetime gifting limits, she invests her money in a US brokerage earning (file W8-BEN) tax-free capital gains, but paying 15% on interest and dividends per US-Thai DTA.

You do not. You may need to show a long term visa, you may need to have a reason for filing. I got mine on an O'visa extension in Bangkapi. I don't recall if they asked why. If so, I responded file for refund of interest taxes withheld.

I keep digital copies of all tax returns along with 1099's and other relevant documents on my laptop for all tax years since ex-patronizing the USA. Also save a year end copy of my investment, foreign bank balance, credit card, and FBAR spreadsheets. That would take us back to nought-five. I think I could do that. Might not be able to prove beyond a shadow of a doubt that the remittance I made on Feb 17th of this year was specifically income from direct deposit of salary earned in China Oct 12th of 2011, but I can sure drown the auditors in paperwork.

I guess he found out for himself that everyone was right.

Yet I know know not where to seek the canine.

Yes, I had a TIN from 2017 and pink ID from last year. Online system did not recognize either. Went to local/district TRD, they told us to use pink ID number to file tax returns. TIN was cancelled, and they called the provincial office to have pinkie activated for online use.

We just filed our taxes online, using the Thai forms. Took just under half an hour, as taking notes. All my remittances were prior 2024 savings, so not declared. Listing only Thai sourced interest and dividends, and requesting a refund of tax withheld. Logged in with pink ID number, selected file form 90. Page one opened pre-filled with my identifying information. I clicked on "2567 married" from the drop-down menu. Spouse's info loaded, and we selected "no salary." Page two scroll down to the interest/dividends section. Entered total interest earned, total tax withheld and bank's payer ID number. Then entered total dividends, total tax withheld and brokerage's payer ID number. No need to enter bank name or address. Page three showed 60K for self and 60K for wife. Did not bother with other allowances (wife's social insurance contribution and health insurance premiums) as not needed. Page four is a summary of entered information and calculated totals. This was all correct, so we checked the box "I want a refund." Page five is the final version of the return. Click the button to submit. Page six is confirmation page, can print copy of return and TRD receipt. Same as last year, there was no request to upload a bank statement or dividend receipts. Assume TRD has access to current year databases. Expect a refund letter in a couple weeks that I can take to Krung Thai to deposit. My local Bangkok Bank can/will not link my accounts to my pink ID, so no PromptPay available for me. In summary, "Super easy, barely an inconvenience!"

Very poor and illegal driving on the part of the elephant.

The taxpayer determines which of the funds remitted are income, and which portion of the income is assessable. Only that self-determined assessable income would be declared. With the current tax forms, there is no way to distinguish assessable vs. non-assessable funds. Anything declared is considered to be assessable, and taxable.

Yes, that convoy of brain surgeons and rocket scientists departed 2 weeks BEFORE the election in hopes of arriving before the new administration “That is what makes us fearful. They say this could change because they could both close the CBP One appointment and all the services that are helping migrants,” he said. But soon after Trump won the election by a landslide, the convoy from the Oct 21 report turned back. Migrants Abandon Caravan As Trump Win Kills 'Dream of Getting Out' Published Nov 07, 2024 Migrants are abandoning a caravan headed for the United States because Donald Trump's election win has dashed their "dream of getting out". The caravan, which began earlier this week in southern Mexico, included approximately 3,000 migrants seeking asylum or economic opportunities in the U.S. https://www.newsweek.com/migrant-caravans-turn-back-after-trump-election-win-1982274

That's a strange way of saying what exactly? If due a refund, doesn't matter when you file. I filed 2021, 2022, 2023 returns 'bout six months ago. All filed late. All received refunds.

Stupid?..........perhaps. Cheap?.........maybe. Clichéd..........shirley! But absopositively apt.

Sure, as if they would do "something" when they're in the pockets of "big hosiery"!

I had 3 Sinovac injections, old-fashion vaccine technology, when I was in China. Upon return to Thailand, I got an AstroZ mRna booster jab. Since then I've been losing left-handed socks in the wash almost weekly. I thought it was merely a coincidence, but then I checked with an expert to be sure. Consulted with my chiropractor, and he confidently declared it the result of the vaccine shedding inside my footwear. "Trust the pseudoscience!"

Aaaaaaaaaaaaaaaand just called Fidelity. No, they do not open accounts for non-resident foreigners. Guess we'll be going with Schwabb. Will have to ACH or SWIFT funds from my account at Fidelity. But.......the rep.....didn't know......what.....SWIFT.....means!!!! Sad. Bigly, bigly sad. Then went into the system to try setting up transfers out of Fidelity, but OTP is required. Called back to Fidelity, different rep in "Money Movement", and they ADDED MY THAILAND TRUE NUMBER AS MY CELL NUMBER, keeping my US number as the home number. Rep tells me this needs 24 hours to update, then can be used to receive OTP codes. Bigly better!

UPDATE for anyone interested. I just called Schwabb International. Schwabb will open accounts for foreigners not resident in the US. No SSN or ITIN is needed. Thai passport for identification, and utility bill to show residence. Our house insurance with wife's name/address in English will do. Can apply online, upload scans of PP and proof of residence, with 4-5 days processing. These accounts previously required a minimum $25K to open, but due to competition they can now be opened with $0, no minimum balance. Can open sub-accounts to separate funds, or to hold gains separate from original investments. These are Schwabb accounts held in the USA, so ACH transfers may be possible. Depends on if your bank/broker will send to an account not under your name. Must fill out a W8-BEN to claim US-Thai DTA benefits. Taxes withheld at source on dividends and interest at 15%. No tax on capital gains. No US tax return is required. No ITIN needed. So I can give a gift to my wife, not taxed by the US, not taxed by Thailand. She can purchase in her individual brokerage account ETF's for capital appreciation that pay minimal or no dividends, reducing any US withholding tax. When she does remit to Thailand, she will have documentation for all of her many gifts if ever questioned, which should be only if audited. I don't believe there is a requirement to declare gifts unless audited, but I won't be around to see it.