income tax between Thailand & USA question

[VIPinthailand]

if a US person travels around the world and stay 5 months a year in Thailand and 5 months in Spain and 2 months in Vietnam (no residence) and make money from some investments in Europe(or the guy is a digital nomad) , must this person pay tax to the USA?

I understand you don't have to pay the first 90000$ if you pay income tax to another country like Thailand, but what happen if you don't pay tax at all because you travel constantly.?

what happen if you live in a country with no income tax? (Saudia?)

[JLCrab]

No sweat -- it's all in here:

http://www.irs.gov/Individuals/International-Taxpayers/Taxpayers-Living-Abroad

[VIPinthailand]

jeez, you redirected me to a private company called IRS, is that a scam? ... they say tax on citizenship.... who the hell in this world tax on citizenship and use a private company.... ?

must be crazy countries.

you live far away from you country and you must pay money to your home country? ... that s totally nut. only a fool would tell them how much money he makes, not their business anyway...

Edited July 18, 2015 by VIPinthailand

[chiang mai]

If you're an American citizen you pay tax on your world wide income, regardless of where you live.

If you are a UK citizen and resident for tax purposes, you pay tax on your world wide income, regardless of where you live.

If you are a citizen of Israel, you pay tax on your world wide income, regardless of where you live.

[FritsSikkink]

jeez, you redirected me to a private company called IRS, is that a scam? ... they say tax on citizenship.... who the hell in this world tax on citizenship and use a private company.... ?

must be crazy countries.

you live far away from you country and you must pay money to your home country? ... that s totally nut. only a fool would tell them how much money he makes, not their business anyway...

troll alert

[AyG]

If you are a citizen of Israel, you pay tax on your world wide income, regardless of where you live.

Not true. You only pay tax on your worldwide income if you're resident. Non-residents only pay tax on income arising in Israel.

There are only two countries in the world which tax your worldwide income when you are non-resident: the United States and Eritrea.

[VIPinthailand]

If you are a citizen of Israel, you pay tax on your world wide income, regardless of where you live.

Not true. You only pay tax on your worldwide income if you're resident. Non-residents only pay tax on income arising in Israel.

There are only two countries in the world which tax your worldwide income when you are non-resident: the United States and Eritrea.

and what about the money from outside Israel? must you pay tax to the IRS if you work and live in Israel (non resident) and you are an American?

[chiang mai]

I'm now backing the troll alert, first raised in post #5, over and out.

[VIPinthailand]

no troll here, all in your head. just answer to my question and you will be OK. don't worry. situation is under control.

Edited July 19, 2015 by VIPinthailand

[JLCrab]

Hard to answer the question of a citizen of the world who is not a citizen of any country or at least has never said so if so.

Personally, I have no income or investments outside the USA so, as the Texans say, I got no dog in this hunt.

Edited July 19, 2015 by JLCrab

[Gumballl]

no troll here, all in your head. just answer to my question and you will be OK. don't worry. situation is under control.

As a US citizen, you are require to report all earned income, regardless of whether it is earned in the US or abroad. Whether you owe any taxes on this amount is determined after computing your adjusted gross income.

The adjusted gross income is computed by taking what you have earned, and then subtracting certain deductions. As you mentioned earlier, you have the $90K write-off. You also get to write-off your standard deduction, amongst perhaps others items (e.g. business expenses). Any remaining amount of income, after your write-offs, is taxable. It's not rocket science.

You will get much better advice consulting a tax professional (or a CPA) than you will on this forum.

Note, another alternative you can do is renounce your US citizenship. There's a minor fee for this, but surely only pocket change for a VIP.

Edited July 19, 2015 by Gumballl

[JLCrab]

Per the above ,that is information for a US citizen and only fools are citizens of the US.

[Pib]

Per the above ,that is information for a US citizen and only fools are citizens of the US.

Do you start every morning being a U.S. hater?

[JLCrab]

Per the above ,that is information for a US citizen and only fools are citizens of the US.

Do you start every morning being a U.S. hater?

I just read in Post #3 above that "only a fool would tell them how much money he makes, not their business anyway..." so I guess the OP isn't a US citizen because he I take it is nobody's fool.

[VIPinthailand]

and how the IRS is checking that you are really paying your tax in Thailand.? you can just say you pay tax in Thailand, and in fact you don't. keep the money for yourself.

Edited July 20, 2015 by VIPinthailand

[JLCrab]

and how the IRS is checking that you are really paying your tax in Thailand.? you can just say you pay tax in Thailand, and in fact you don't. keep the money for yourself.

If you just say you pay your tax in Thailand then they at the IRS might maybe ask to see the receipt from Thai Revenue Office?

[gk10002000]

and how the IRS is checking that you are really paying your tax in Thailand.? you can just say you pay tax in Thailand, and in fact you don't. keep the money for yourself.

yeah well, the IRS can ask just about anything they want, especially if they even think your are hiding something and they decide to audit you. I had them ask me questions once here in the USA on a routine missing form that they lost. I would hate to be audited while traveling or living overseas. I doubt that would be easy or quick.

[gk10002000]

jeez, you redirected me to a private company called IRS, is that a scam? ... they say tax on citizenship.... who the hell in this world tax on citizenship and use a private company.... ?

must be crazy countries.

you live far away from you country and you must pay money to your home country? ... that s totally nut. only a fool would tell them how much money he makes, not their business anyway...

The link was NOT to a private company. The IRS is a US government agency, hence the .gov domain. It doesn't sound like you are a US citizen at all so run along and do some research. All US citizens are subject to IRS federal rules and regulations regarding taxation no matter where they live. Whether they owe taxes or not depends on what and how they file, income exclusion, tax free income, income reporting limits, etc.

[VIPinthailand]

IRS is a private company based in Puerto Rico.

irs . gov is just a website controlled by the government

as income tax is unconstitutional (because labour is not an income) , when time will come for pay back. all guys that have paid tax to them will not get a refund.

the IRS' big managers will simply disappear with your generous "donation"

http://mystrangemind.com/2006/08/irs-exposed-irs-is-privately-owned.html

Edited July 21, 2015 by VIPinthailand

[Gumballl]

IRS is a private company based in Puerto Rico.

irs . gov is just a website controlled by the government

as income tax is unconstitutional (because labour is not an income) , when time will come for pay back. all guys that have paid tax to them will not get a refund.

the IRS' big managers will simply disappear with your generous "donation"

http://mystrangemind.com/2006/08/irs-exposed-irs-is-privately-owned.html

Very Idiotic Person (in Thailand) -

The IRS is not in PR; in fact, residents of the PR are not even required to pay US federal taxes.

The IRS is headquartered in Washington, DC and is a federal agency. US citizens, regardless of their IQ level, are required to report their world-wide income.

Lastly... labour... which by the way, is spelled "labor" in the US, should not be construed as being income. However the money that one earns performing labor is. Go figure.

Edited July 22, 2015 by Gumballl

[VIPinthailand]

http://www.wakingtimes.com/2015/01/27/know-irs-fed-private-corporations/

[Pib]

Could you send me some recommended weblinks regarding Ancient Aliens Theorists and also maybe some weblinks for end-of-the-world preppers. I hear those types of webpages are interesting reading also. Thanks.

[gk10002000]

IRS is a private company based in Puerto Rico.

irs . gov is just a website controlled by the government

as income tax is unconstitutional (because labour is not an income) , when time will come for pay back. all guys that have paid tax to them will not get a refund.

the IRS' big managers will simply disappear with your generous "donation"

http://mystrangemind.com/2006/08/irs-exposed-irs-is-privately-owned.html

I don't know what this guy is trying to accomplish here, but it is pure nonsense if he is at all serious about what the IRS is. Pure troll or drugs.

[jjczap]

If you're an American citizen you pay tax on your world wide income, regardless of where you live.

If you are a UK citizen and resident for tax purposes, you pay tax on your world wide income, regardless of where you live.

If you are a citizen of Israel, you pay tax on your world wide income, regardless of where you live.

Plus never mind the IRS and taxes - if you are a US citizen and had at over 10000$ at any given point in a calendar year in financial institutions out side the US you must report this fact to the US Treasury Department on a yearly basis - the reporting requires you to report the financial institutions name , account #, amount etc. and this is for all accts - the penalties for not filling are substantial - I'm sure if the OP is traveling 5 months here 6 months there he would be required to file unless he is traveling with a bag of cash -- question to the OP - have you been filing your FBAR with the US Treasury??

[jjczap]

Plus I forgot to mention if you are a US citizen because of FATCA law you cannot open a new financial acct in Thailand or Spain without providing your SS# on IRS form w-9 - in fact there are over 80 countries that have signed a Inter Government Agreement covering this area - the foreign financial company will send all your info the IRS just like an American co does --- a list of the countries can be found here

http://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA-Archive.aspx

I'm sure if the OP is a VIP traveling the world he is well aware of this fact - so is this whole thing about taxes one big troll?

[VIPinthailand]

no trolling . India just signed fatca a few days ago.

this is why so many business are closing...

http://www.forbes.com/sites/robertwood/2015/07/13/india-signs-pact-to-give-irs-account-data-could-end-blackwhite-money-too/

[jjczap]

no trolling . India just signed fatca a few days ago.

this is why so many business are closing...

http://www.forbes.com/sites/robertwood/2015/07/13/india-signs-pact-to-give-irs-account-data-could-end-blackwhite-money-too/

my view is that your are either from outer space or a troll for the US gov trying to see who's head pops up with some comments how to avoid - gee why didn't you answer my questions about your FBAR and FATCA obligations - I guess it more than appears you understand - you know about FATCA but you play the game of soooo stupid on taxes -- just plain BS with your ? on taxes - you are just plain BS BS BS - good luck in your underbelly trolling life

[arunsakda]

The constant inane posts regarding FATCA, IRS policy and the Thailand Elite visa are nothing new. If one is not a US person and not a member, why stress out on it? For example I was shocked to hear the UK will be hitting expats with NHS charges if they visit home, and happen to fall ill. It really should be none of my business by now however, so I don't really read topics about it.

Edited July 27, 2015 by arunsakda