- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Tax advice for living overseas
Posted on 10/2/17 at 5:50 pm
Posted on 10/2/17 at 5:50 pm
Friend has lived overseas for last few years and makes little money doing temporary gigs. Do they still have to file taxes in the US and claim that money even if it is taxed overseas?
4
Posted on 10/2/17 at 6:30 pm to mobbarley
If you are a U.S. citizen the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside. Now the first 100K, atleast last year was tax free.
Posted on 10/2/17 at 9:21 pm to mobbarley
quote:
Friend has lived overseas for last few years and makes little money doing temporary gigs. Do they still have to file taxes in the US and claim that money even if it is taxed overseas?
Yes they have to file a return if they are a citizen, but no they should not owe any tax. There is a foreign income tax credit, and if they are working odd jobs they shouldn't be meeting the threshold where tax will be due in the States.
Posted on 10/3/17 at 5:33 am to mobbarley
Absolutely they do, and it sucks donkey balls.
Posted on 10/3/17 at 1:43 pm to mobbarley
One of the biggest misconceptions is that money earned overseas is tax-free
There are exclusions and credits, etc, but you still have to file a return, and you have to meet certain rules to get the benefit of the exclusions and credits.
There are exclusions and credits, etc, but you still have to file a return, and you have to meet certain rules to get the benefit of the exclusions and credits.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News