Dancali Posted March 14, 2004 Share Posted March 14, 2004 I'm back to Thailand and I need some info on taxes. There must be some others out there in a similar situation. I have a sole proprietership business involved in exporting from Thailand to America. I earn all my money from customers abroad but live in Thailand for 9 months out of the year. Do I pay the full normal taxes as if I lived in America for the whole time (even though I'm not out driving on the highways, sending kids to public schools, paying for the cops to patrol my neighborhood)? I know that expats can get tax exemption in some way on the first X dollars earned. What are the requirements for this? Any advice or leads is appreciated. Link to comment Share on other sites More sharing options...
sbk Posted March 14, 2004 Share Posted March 14, 2004 Its called the foreign earned income exclusion and requires that your tax home is outside the country and that you spend no less than 330 days outside the country (doesn't have to be consecutive and has to be in a 12 month period, you pick the 12 months). Here is a link to the IRS website:foreign earned income exclusion info Good luck! Link to comment Share on other sites More sharing options...
lopburi3 Posted March 14, 2004 Share Posted March 14, 2004 I am retired in Thailand and Do I pay the full normal taxes as if I lived in America for the whole time (even though I'm not out driving on the highways, sending kids to public schools, paying for the cops to patrol my neighborhood)? I pay the full normal taxes as if I lived in America. And I am here 365 days a year, not just 9 months. If you are in Bangkok the American Citizen Service has full tax information (believe they had someone from IRS last week but you missed that). I would guess that you have to pay tax (although perhaps you can deduct what you pay here) but read SBK link well. Link to comment Share on other sites More sharing options...
taxout Posted March 14, 2004 Share Posted March 14, 2004 As you'll note from the IRS website, there are actually two ways of qualifying for the exemption, one based on physical presence overseas, the other based on bona-fide residence overseas, regardless of physical presence. Like all tax provisions, these are clouded with qualifications. Self-employed is often not the best status overseas, either for computing the exemption or for computing social security taxes. If this is a long-term arrangement, you might want to seek some professional advice about restructuring your business. Link to comment Share on other sites More sharing options...
tutsiwarrior Posted March 14, 2004 Share Posted March 14, 2004 I used a tax return preparation service last year in BKK called Taxplan, tel - 252 0177 who were reasonably priced and did a good job...you might want to check them out... Link to comment Share on other sites More sharing options...
thaihome Posted March 15, 2004 Share Posted March 15, 2004 From American Citizens Services - Bangkok: 5-Mar-04 IRS TAXPAYER SPECIALIST TO VISIT BANGKOK A tax assistor from the U.S. Internal Revenue Service (IRS) will be in Bangkok from Tuesday, March 16, through Friday, March 26, 2004. The IRS representative can answer your federal income tax questions, help with account and refund problems, and assist in the preparation of your tax returns. He will particularly try to address some of the unusual issues that taxpayers living overseas may encounter. The assistor will be conducting a FREE seminar on U.S. tax issues from 6:30 p.m. - 8:30 p.m. on Tuesday, March 16, in the Pimarnman Room of the Four Seasons Hotel (formerly the Regent Hotel) on Rajadamri Road in Bangkok. The seminar will be followed by a question and answer session. No advance registration is required. The assistor will also be available for FREE individual consultation at the American Citizen Services (ACS) unit of the U.S. Embassy's Consular Section at 95 Wireless Road in Bangkok from Tuesday, March 16, through Friday, March 26. Consultation hours will be from 8:00 a.m.-11:00 a.m. and from 1:00 p.m. - 3:30 p.m., by appointment only. Please call ACS at 02-205-4049 if you would like to schedule an appointment with the IRS representative. (If you are unable to travel to Bangkok, you may make an appointment for a telephone consultation.) Tax assistance is available to any person subject to U.S. taxes or who files a U.S. income tax return, regardless of nationality. Any taxpayer who does not speak English should bring a translator. Please note that IRS help is generally available year-round from the IRS office in Philadelphia, Pennsylvania, over the Internet at www.irs.gov/taxlaw, or by phone at (215) 516-2000. Consultations are from Monday through Friday, 6:00 a.m. - 2:00 a.m., Eastern Standard Time. * * * * * * * * * * * * * * * * * * * * * To subscribe or unsubscribe to this list, go to: http://usa.or.th/embassy/acsemaillist.htm The U.S. Embassy is located at 95 Wireless Road, Bangkok 10330, Thailand (Nearest BTS Skytrain station: Phloen Chit) American Citizen Services Unit Window Hours: Monday - Friday, 8 - 11 AM and 1 - 3 PM Tel: +66-2-205-4049 Fax: +66-2-205-4103 E-mail: [email protected] U.S. Department of State travel website: http://travel.state.gov U.S. Embassy Bangkok website: http://usa.or.th Link to comment Share on other sites More sharing options...
grim_marmazet Posted March 16, 2004 Share Posted March 16, 2004 So, if i get this right. Americans pay taxes, to America, even if you live in another country all year round? That seems just a tad crazy to me. Link to comment Share on other sites More sharing options...
sbk Posted March 16, 2004 Share Posted March 16, 2004 over $ 75,000 a year. And surprise surprise, lots of other countries require taxes as well. you better hope yours isn't one of them! Link to comment Share on other sites More sharing options...
NedKelly Posted March 16, 2004 Share Posted March 16, 2004 Aussies dont pay anything if we work outside the country for more than 90 days as far as I know. Link to comment Share on other sites More sharing options...
Boon Mee Posted March 16, 2004 Share Posted March 16, 2004 So, if i get this right. Americans pay taxes, to America, even if you live in another country all year round?That seems just a tad crazy to me. We gotta pay taxes to Uncle Sam after we're dead! Link to comment Share on other sites More sharing options...
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