Category Archives: Working Overseas

TaxMama’s Tax Roundtable – March 18, 2010

Today’s topics included: The new HIRE Act The Homebuyers credit Truck Drivers Tax Home Ideas on how to get new clients Dealing with banks who want letters you can’t give them – or can you? Deductions for school teachers Good places to network Where to get good, inexpensive CPE e-filing tax returns with foreign addresses […]

Reporting Mexican Income

Today TaxMama hears from B in Washington State, with this question. “If I have passive rental income of $100,000 from a business in Mexico that goes into a trust in Belize, am I required to report that on my 1040 in the US? I am a US citizen and live in the US 100% of […]

Working in Kuwait

Today TaxMama hears from Sara in Louisiana who has this opportunity . “My husband has been offered a position in Kuwait with a salary of $110K US. They have told him that it will be “tax-free”. If he accepts this position, is this just like working in US as someone who is self-employed? I am […]

Paying Artists Overseas

Today TaxMama hears from Barb in Kentucky who tells us, “I have a client that is hiring artists from Japan & Italy on a subcontracting basis. Is there any special thing that I need to be aware of in this case? He will pay them with a company check and we will issue 1099-MISCs.”

Outsourcing

Today TaxMama hears from Shawn in New Jersey who tells us: “I plan to be an independent contractor working with architectural renderings. My friends in Asia will be actually doing the work. I will be getting the jobs, collecting the fees, and paying the Asian rendering team. How do I handle this for taxes, since […]

Foreign Exclusion Unfiled

Today we hear from Yusuf, in CT who just came back from working overseas. “I have been working abroad for many years (since 1990). I filled on time for the first 5 years. Then a friend informed me that as long as I was under the allowable income level there was no reason to file. […]

Physical Presence

Today TaxMama hears from Erik in Columbia who needs help. “I have a question about the physical presence test and the exemption granted by the “waiver of time requirements”. I work most of the year in Colombia, South America. When I am on break I am directed by my employer to leave the country because […]

Foreign Earned Income

Today TaxMama hears from Mike in the Tax Parlor, who tells us “I started working overseas in Kuwait for a US company in March 2007. I am a USMC contractor planning on working this contract through September 2008. Will I be able to take advantage of the foreign earned income credit exclusion? And what is […]

China Dole

Today TaxMama wants to talk about doing business in China. Andrew in the Tax Parlor told us that he had a devastating experience with shoddy products he received from China. Since you have to pre-pay, or provide a letter of credit, you generally don’t get to see the quality of your order until after you […]

When 911 is a Good Thing

Today TaxMama hears from Eric in San Jose, CA who wants to know, “Internal Revenue Code Section 911 allows you to avoid paying US taxes on money you earned while you are a resident of another country. What does it mean that you have to be a bona fide resident to qualify? Or to have […]