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Jingthing

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Everything posted by Jingthing

  1. That is very true but as I'm in Jomtien (Pattaya) there must be thousands of U.S. expats remitting non-exempt retirement account money. So here and at other expat havens details about how the local TR offices are dealing with these very common vehicles have a better chance of being revealed before too long. Another fun thing which is being emphasized by the Integrity Legal guy. TR is NOT in the business of helping people to pay less tax. So in this example if you file traditonal IRAs in full (ignoring treating them as capital gains situations or subject to 2023 valuable exemption) they're not going to complain especially if it results in you paying tax. Which is a reason to seek expert advice on such matters, but of course, at this point it's wise to consider that "experts" don't really know enough about many details yet to be worth their fees.
  2. Lots to digest. If I decide to treat my IRA end of 2023 valuation as exempt, I would simply not file at all as that and Social Security (exempt) are my only remitting income. But of course they're seeing remittances from the banks, and if audited, unlike you, I would have very little confidence in asserting that 2023 valuation theory. I wouldn't really expect an audit at my modest levels of remittance. However, at some time in future I may need to remit a very large one time amount, and then I would see an audit as veering towards probable. I also find it very hard to believe that IRA withdrawals can validly be treated as profit/loss situations as are non retirement account investments. So I'm afraid my current still held understanding (basically from an online tax info source) is that: Withdrawals from Traditional IRAs are about the FULL amount (remitted), not capital gains. The 2023 exemption rule probably does NOT apply to retirement accounts That the income is viewed by TR as non-exempt PENSION income. My action now is that I won't do an IRA withdrawal until end of next year and before then I have a Thai tax lawyer in mind who I will consult with before remitting any of that . And/or this issue will become more clear over time with some kind of consensus info gleaned from the experience of others.
  3. That's a theory but as it's closed it's understandable that people that previously ignored Thai taxation are feeling that it may be unwise to continue to do so. As I said before, we can't predict the enforcement going forward but now if you ignore when you actually are liable for tax, the audit letter might actually come, when before this you knew it wasn't coming.
  4. I would never pay 500. My range is 100 to 180 usually with volume discount. I think there is more to it than just THC percentages. With better stuff, when they are marketed as having an identifiable flavor, you can actually taste the flavor, which is pretty cool. Plus of course the differences in strain effects. For very infrequent indulgers, that's even more reason to go for better stuff.
  5. True. But a loophole so big that TR hadn't ever bothered typical retired expats living on remittances before and I have never heard of even one even filing except if they had a presence in the THAI economy.
  6. BTW, at the shop that I found that I like, I asked about their customer base. They told me all the tourist nationalities and Thais as well.
  7. It's kind of like wine. Many people don't appreciate better wine. In fact, their palate doesn't register the difference. But many people do. The different strains REALLY do have different effects.
  8. Coincidentally I found one that I think is better than the online options. Why? Fair price. Excellent and FRESH product which you can see and smell how FRESH. I'm not into the 10 baht a gram stuff. I like higher end. I can get higher end online for maybe 30 baht less, but sometimes they ship STALE product and popcorn buds when you paid for more. At the shop I used, there was another customer who appeared to be a regular coming in as I left. So yes they're there to sell products. Obviously, there is an oversupply of shops. I guess it's an easy business to start is the reason there are so many.
  9. My understanding is that IF the worldwide income thing comes into play it would take multiple years to actually roll it out. But there is something real that we know is real for tax year 2024 about remittances. The old wonderful loophole is now gone. So far, that's all that has changed but it's potentially a very big change.
  10. I get your point. HOWEVER. in the Thai tax system you file without the need to document. Documentation demands only come IF you're audited. So having a DEFENSIBLE plan for how you are SELF determining your tax situation is required either from the taxpayer himself or a preparer. I got the First In First Out guideline from a Thai owned tax specialist company. Would it be accepted by TR on audit? I can't predict the future but following that is better than having no logical structure for your self determination.
  11. "They" already did something which you would know if you had been paying attention. If you're talking about details of enforcement, etc. regarding typical retired expats, then you're correct, we don't know the details about that yet. As far as I can tell, they haven't been auditing typical retired expats living on remittances up till now. Maybe that golden age will continue. But they have solid grounds now to look at that demographic more closely now as they did close the wide as the Grand Canyon loophole about timing of remittances.
  12. We already know that according to TR things are different starting Jan 1, 2024. Everyone for example should know the balance of their savings on Dec. 31, 2023.
  13. Because I think it's highly likely that having a record of my "mixed" source account is going to be a useful thing to have.
  14. Genocide: www.rferl.org/a/russia-genocide-ukraine-scholar-war-crimes-prosecution-hague/32888386.html
  15. Thanks. Ideally I'm looking for a tool that would highlight the assessable portion in some distinctive visual way so in the context of my original example I could always see when the withdraws were heading from exempt into assessable territory. I assume any tool could be used to print reports.
  16. I'll look into those tools but this task is a simple one by accounting standards and I'm wondering if there's a super easy tool for "idiots" that would work for someone that has never done spreadsheets or bookkeeping of any kind.
  17. Trump the greatest con man who ever lived.
  18. There's a current technical glitch with links on the forum. So paste this address in: www.foreignaffairs.com/ukraine/why-russias-war-ukraine-genocide
  19. Why would I agree with anyone's praise of Putin?
  20. Sorry for any confusion. You seemed to be adding a confusing element by suggesting part of the original 20K (EXEMPT) would actually not be.
  21. Thanks. I think that I probably understand you now, by which I mean according to my understanding I was basically correct at first. Perhaps using the word EXEMPT would have been better for the chunks out of TR's interest.
  22. Thanks. I was going to get into this later. Suggesting for bookkeeping tools.
  23. Confusing answer. I said EXPLICITLY that the original 20K was no accessible by TR if remitted. The newer 5k would be. Another thing. I expect that there would be mixed remittances. With proper records I would know which part of interest to TR and which not.
  24. I'm not saying it's rocket science but it's not something I've done before with no bookkeeping experience. I would also be SPENDING from the same account which would constantly move the numbers as well.
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