Jingthing

I would like to get my understanding of "First In, First Out" confirmed in the context of a U.S. account where accessible and non-accessible to Thai tax is MIXED. The account is used to transfer funds into Thailand. I will do this by example. Deposit of 10K non accessible into the U.S. mixed account. Deposit of 15K accessible into the U.S. mixed account. Deposit of 20K non accessible into the U.S. mixed account. Transfer of 12K into Thailand. Only 2K of that 12K accessible as the "first in" 10K was non accessible. Transfer of 15K into Thailand. The remaining 13K of the 15K accessible plus 2K non accessible. Does this example reflect a correct understanding of "First In First Out" or not? If not, what am I getting wrong?

That late is very rare. As far as cold food, sure that happens sometimes. Much more common is lukewarm which is worth the bother to heat up a bit in the microwave. You learn quickly what types of food travel well or not For example, fried foods are obviously not ideal. Other foods can be an hour old and heat up very well. Also I can tell you're not seriously into food if you're satisfied by only nearby restaurants. As I don't have any vehicle the variety of restaurants that I really would never bother actually going to (too far, too much bother, etc.) is incredible for me. On top of that Grab and Panda have loyalty programs that for a nominal monthly fee you get some really great discounts, including free or discounted delivery fees. I recall one month Grab sent me a report saying I had saved 3000 baht on promotions. Also consider we are so spoiled here compared to countries (like the US) where delivery food has become a luxury item (overpriced food, delivery fees, and more or less required large tips).

From Russia, with "love":

Good satire.

Why ask for trouble?

Yes it could. Easiest path is to continue to use the same Agent.

Don't confuse them with facts.

Perhaos you should mind yer own bidnes and stop trolling.

1.5 percent.

The irony of criminally corrupt felon / adjudicated rapist Trump proclaiming law and order is endlessly delicious. But it wasn't a fluke this time. Americans actually voted for this fascist.

Putin the genocidal war criminal dictator is also trying to punish Ukraine for celebrating Christmas on the 25th rather than the eastern date.

How are the people not protected by life in prison sentences? Trump apparently is drunk with power including the power of the state to murder.

Global warming up there opening up much easier shipping routes.

There are many American expats living in Panama. I wonder if they're freaking out now. Trump Organization Accused of Tax Evasion in Panama: What We Know

No only against Canada, Mexico and Panama.

Yes of course there are outside the house influences. Even the democrats in the house have some power because the republican majority is so slim.

The house does budgets. Republicans control the house. Duh.

Interesting. But that is an opinion and if you're not a Thai tax lawyer how much power does that have with Thai Revenue? The opinion from expat tax Thailand which has a foreign spokesman but is Thai owned with Thai tax expert staff has a very different opinion. Who are Joe Sixpack expat Americans supposed to listen to?

Makes sense. But at least that would prove there was no intention of evasion. At this point I would almost prefer that it be treated as fully accessible pension income even if costs me some tax because at least I wouldn't be worried about maybe having to fight with TR over a complex matter I have little confidence about. I wonder how many months or years it will take to reach clarity about this

I have a traditional IRA which was a rollover from a 401k which did include employer match contributions. Obviously more complex than Roth. So practically speaking I'm more confused than ever how to deal with this. You know dealing with tax clerks that don't speak English and don't know diddly squat about all the complexities of the different types of US retirement accounts. But they will know they are not social security which happily is explicitly exempt. I was planning on doing an IRA withdrawal this year but now I won't. Rather I will wait until this shakes out with reports about people's actual experiences it almost seems like the US embassy should get involved but of course they won't. I have another question. If I go to a THAI tax lawyer and follow his advice about my IRA If audited and the lawyer was wrong, is that protection from consequences above paying what TR says I should have paid? I think tax planning at this point is nearly impossible.

They want a strong man oligarchy /autocracy led by a dictator God.

That was one irrelevant error. How was it error filled?

That is about money in the bank. IRAs and 401ks are very specialized, very rules based retirement accounts. They are in no way bank accounts. Until someone has some evidence from Thai tax experts that says differently, I don't see any evidence that the balance of retirement accounts classed as accessible PENSIONS in Thailand on December 31, 2023 is exempt at all. The taxable event happens when you make a withdrawal. It should be noted here that non-retirement account investments (stocks, bonds, real estate) etc. are definitely not looked at as far their book value of December 31, 2023. If you had a stock for 50 years and sold it now for a profit, the cost basis would be from 50 years ago. Not the price on December 31 2023 I encourage people who are engaging with Thai tax experts to ask this specific question and share. We are all still learning.

Indeed indeed. but for now , I'm pretty sure that IRAs and 401Ks will be classed as accessible pension income and the FULL AMOUNT of withdrawals will be the relevant number as far as the portion of that FULL AMOUNT remitted to Thailand. This video gets into this fairly well. If anyone has any evidence that IRAs and 401Ks can be accounted for in a cost basis profit/loss manner as non retirement account investments are, please post it. I'm not pretending to be any kind of expert. I'm just trying to figure all this stuff out so I can tax plan better. On the IRA/401K thing, I'm sure these answers will be of interest to the majority of retired American expats in Thailand. Some good news in the video. It implies because of the DTA that IF you must pay tax in Thailand on any of these vehicles you can get a credit back from the U.S. Apparently under the DTA ONLY THAILAND has a claim to tax these vehicles. It implies for example that if you must pay Thai tax on your Roth IRA withdrawal which is tax free in the U.S. that you can file for that money to be refunded to you by the IRS.

Honestly I don't know of even one retired expat who filed Thai taxes referring to international transfers up till now. WHY? Because of the famous loophole wide as the Holland Tunnel about money from previous years always being exempt. So transfers of things like pensions was really OFF THE RADAR of both expats and I think TR as well. But that rule has changed. So while I get what you're saying, I don't think it's really relevant to the CURRENT situation.