Got my TIN yesterday

[SiSePuede419]

Thai Revenue Office.

Took 30 minutes.

Now need to file taxes in America 

Get copies of Thai Bank book (deposits are income)

File Tax return online with deductions for 

Life insurance for wife

Medical insurance for son

Life insurance for me (maybe)

 

Let's say my tax due in Thailand is 10,000B.

 

But I paid 20,000B in America.

 

Then my taxes due in Thailand is 0B...?

 

More likely my Thai tax is more than tax due in America then I pay the difference.

 

That's it.

 

Easy.

 

Now I can use that money to pay optional taxes.

 

Like the Beer Tax.

 

Or the Farang Food Tax.

 

Or the dreaded Penis Tax.

 

Up to you. 💯

 

 

[JimHuaHin]

Which Thai Revenue Office, please?

[Celsius]

Have fun filing while choking on 181AQI

[SiSePuede419]

43 minutes ago, Celsius said:

Have fun filing while choking on 181AQI

What are you putting in your lungs?

[Celsius]

1 minute ago, SiSePuede419 said:

What are you putting in your lungs?

 

Thai Air

[SiSePuede419]

Went to Bangkok Bank today.

Paid 200B.

In a couple of weeks, they'll have a "statement" ready showing the total of my deposits ("income") that I will need for filing my Thai taxes.

Life is good so far. 👍

[bkk6060]

13 minutes ago, SiSePuede419 said:

Went to Bangkok Bank today.

Paid 200B.

In a couple of weeks, they'll have a "statement" ready showing the total of my deposits ("income") that I will need for filing my Thai taxes.

Life is good so far. 👍

?

Why didn't you check your account history from 2023 and do it yourself?

[JohnnyBD]

From what I understand, if you pay income taxes of 10k THB in Thailand on assessable monies remitted, you should be able to get a credit for that amount on your US tax return by filing IRS form 1116 (foreign tax credit).

 

Who told you your income taxes in Thailand would be zero if you paid income taxes in the US? That doesn't sound right.

[SiSePuede419]

Just now, JohnnyBD said:

From what I understand, if you pay income taxes of 10k THB in Thailand on assessable monies remitted, you should be able to get a credit for that amount on your US tax return by filing IRS form 1116 (foreign tax credit).

Ahh.

In that case sounds like Thailand doesn't care how much tax I paid in America.  

Pay tax in America for 2024 income.

Pay tax in Thailand for 2024 income.

In 2026, file for credit for tax paid in Thailand for 2024.

Presumably, Thailand will transfer that money to the US Treasury.

Whatever.

Thanks for the heads up. 👍

[JohnnyBD]

I would file in Thailand before Mar 31, then file in US before Apr 15, and claim the tax credit using form 1116, instead of waiting until 2026. Your choice I guess. I'm not sure of the proper way to do it.