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JimandNok

Expat taxes for US citizens working in Thailand ?

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Expat taxes for US citizens working in Thailand? Does anyone know about this from experience? I am talking about taxes US expats pay the US Federal Government for 2016.

I have worked in Thailand this last year and plan to live in Thailand long term. Any free advice from people who know about this first-hand would be appreciated. Thank you!

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You do need to file, but any income earned in a foreign country under 90k USD is tax exempt (as long as you were a resident of the foreign country for a majority of the year), so you won't owe any federal income tax. You can do it online through H&R Block or similar.

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Yes the US enjoys screwing over it's citizens, and there are only 2 forms you need to fill out if you earn less than 90k, and 3 forms over that reduce the tax liability through tax treaties. I'll exchange a pizza for advice, or do Turbo tax and it will complete these forms for you based on a few questions.

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I was assigned with PWC and they did a good job at doing my tax from both ends.

You can take advantage of the exclusion for the first chuck then pay the rest.

Also if you are out of the states for then 50% of the time no state or city tax.

If your company offers Ira and 401k retirement I still suggest to allocate to further reduce.

You are also allow to reduce living expenses because you are on assignment.

I recall paying a lot less tax then working in the states.

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I have found a local company in Bangkok who has a enrolled CPA who understands US expat taxes does the filing for me. Send me a PM and I will be happy to pass on the contact information, The cost of the tax filing depends on how many things need to be reported such as more bank accounts, trades, insurance, investments, company ownerships etc...

 

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