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Entrance to expressway..Bangkok
Thanks for the extra info, Eddie..Much appreciated.... -
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I'm in such a good mood today.
BB (bar boy) just put out a BS (bob smith) EP (elvis presley) for everyone on AN (aseannow) to listen to and enjoy. Get your tramadol and valium supply ready because it's going to be another 3 long months of this EP, denying that he's totally BS, until he finally disappears again on another drunken BB stooper and is reborn again as a LB from Soi 6/1. -
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Should income for visa 800K (retired) or 400K (married) not be taxable?
Don't know how taxes are filed in the UK or EU but in America you get a credit when you file in 2025 for "TaxYear2024" for the Thai taxes paid. Death. Taxes* *Does not apply to the Rich who can offshore income in tax evasion "Tax shelter" countries like North Dakota. Yes, in the United States, unused foreign tax credits (FTC) can be carried forward to future years if they are not fully used in the current tax year. Here’s how it works: Foreign Tax Credit Carryover Rules: 1. Carryforward Period: Unused foreign tax credits can be carried forward for up to 10 years. 2. Carryback Period: Additionally, they can be carried back to the immediately preceding tax year if eligible. How It Works: If the foreign taxes you paid exceed the Foreign Tax Credit limit for the current year, the excess amount becomes unused. You can apply this unused credit to a prior year (if eligible) or future years within the 10-year period to reduce your U.S. tax liability. Key Considerations: Limitation on Credit: The FTC is limited to the lesser of the foreign taxes paid or the proportionate U.S. tax liability on foreign-sourced income. Recordkeeping: Keep thorough documentation, as you will need to calculate and report the carryover amounts each year using IRS Form 1116. This provision ensures that taxpayers who pay foreign taxes don’t lose the benefit if they can't use the credit in a single year. -
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Thai tax tangle: Expats warned of new rules on overseas income
I have more than one bank account in Thailand, as I suspect most expats do as well. Do you think the other banks will be following Kasikorn requiring their foreign account holders to submit similar forms? -
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