American Expat How Much Tax Did You Pay Irs

[livinthailandos]

I ask this question because every year I pay my taxes solely based on how much income I have coming in. As my income has slightly gone up. I have found paying more taxes but unsure how to if I qualify for anything else. I have always filled out the 1040, 1040ES, 2555. then Sent home. I have also not be home since january 2008. This year based on my income I paid the IRS over 4,000 USD In taxes. Since I am based here in thailand do any of you have any ideas on taxes working here in thailand. Also note I also paid thailand taxes for working here as well. Not a high tax mind you.

Do any of you pay lower, similiar, or higher taxes to the IRS, and any ideas what deductions I might be able to use since I work in thailand

look forward to all your help

I have no kids, no wife, no credit card bills, no house in the US as well.

[tonititan]

My situation sounds similar to yours (no spouse/kids/house, pay Thai taxes). I've never owed US income tax since I've been working in Thailand. Using the 2555, my income was low enough that all of my foreign earned income was exempt. I don't know the exact cut-off, but I think it's something like $90,000/year. Props to you if you are over that threshold! Would you ever consider hiring an accountant?

[TerryLH]

Are you paying taxes to both Thailand and the US for income earned in Thailand?

Unless you have something more complicated than salary, pensions, interest and dividends, form 1040 and 2555EZ should be ok.

When you do the 1040, go line by line and read the instructions so you know which deductions you qualify for.

For salary earned here you can exclude up to $91,400 for 2009 from the IRS. You'd still have to file here, though.

Everyones situation is unique to them. If I didn't have any dependents, I'd have to pay the IRS. But, I do, so I don't.

[StickySh1t]

Sounds like you have not been taking the 90k exemption (which still applies if you make mor, just only on the first 90k) - might as well be lighting money on fire. Speak with a tax pro, you may be able to claim it retroactively and not owe anything for awhile. Requirement is 300+ days a year (I believe) out of USA. Might be 330.

As for me I'm self-employed and conveniently make a couple % less than the threshhold each year. Still owe self-employment taxes unfortunately though - Medicare etc. As for any income I may earn over the threshhold, what the IRS does not know will not hurt them. Or is it, the IRS can kiss my ass? Yes, something like that.

[thaihome]

In addition to the foreign income exclusion, you can also take a tax credit for any Thai tax you have paid on the amount over the exclusion. You can also use foreign tax credits to offset any alternate minimum tax you may owe.

Working in a high tax country like Thailand, there is no reason you should be paying US tax, except if you have US income such as rental, interest, capital gains, etc.

TH