Americans doing taxes???

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Americans doing taxes???


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Old 03-04-2014, 09:56 AM
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Question Americans doing taxes???

Hi all...I got a question about taxes mainly pertaining to Americans...as I am an American citizen. Ive been here in Sydney now about 8 months working and living. My parents asked our tax accountants if i needed to report my earnings here to the USA and they said no...ive heard otherwise. anyone heard different or any americans filing even though they are working here?


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Old 03-04-2014, 10:29 AM
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Quote:
Originally Posted by rhodered View Post
Hi all...I got a question about taxes mainly pertaining to Americans...as I am an American citizen. Ive been here in Sydney now about 8 months working and living. My parents asked our tax accountants if i needed to report my earnings here to the USA and they said no...ive heard otherwise. anyone heard different or any americans filing even though they are working here?
Yes, you are supposed to file a tax return, US taxes are for worldwide income. Not just Federal but state taxes can apply too! You can get credits for taxes paid in Australia. US Taxes While Living Abroad FAQ :: American Citizens Abroad (ACA)

And for state taxes Americans Living Abroad State Income Tax Filing | US Expat Tax Help

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Old 03-04-2014, 10:32 AM
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How do I know if I qualify for the Foreign Earned Income Exclusion?

The IRS qualifies you as eligible for the Foreign Earned Income Exclusion (FEIE) if you fall into one of three categories:

1. You are citizen of the US who qualifies as a bona fide resident of another country for a period of time containing one entire tax year.
2. You are a resident alien of the US whose home country has an income tax treaty with the US. Additionally, you must be a bona fide resident of another country for a period of time containing one entire tax year.
3. You are a citizen or resident alien of the US whose physical absence from the US constitutes a minimum of 330 days out of any 365.

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Old 03-04-2014, 10:35 AM
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Foreign Earned Income Exclusion

If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude from income up to an amount of your foreign earnings that is adjusted annually for inflation ($91,500 for 2010, $92,900 for 2011, $95,100 for 2012, and $97,600 for 2013). In addition, you can exclude or deduct certain foreign housing amounts.

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Old 03-04-2014, 11:12 AM
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Great info, Kitty. I was lucky enough to already have this info (my fiance is a PR, so he's been through it), but I think having it all in one place on this thread is going to be SO useful. Rhodered, basically what it amounts to is this: You always HAVE to file when you're a US citizen living abroad earning foreign income. But as long as you don't earn over that $90k+ threshhold ktty listed, you likely won't owe any tax to the US.

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Old 03-04-2014, 11:57 AM
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Great thread thanks - I will need to refer back to this in future.

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Old 03-04-2014, 12:12 PM
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We are lucky in that my husband's dad is a CPA and he did our taxes for us - for free!

In addition to the above, we found out that for hubby to claim me and my children of previous marriage on his taxes that we all needed to obtain an ITIN. Because he did pay US taxes for US earned income during the last taxable year he could claim his step-children for the tax credits etc.

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Old 03-04-2014, 02:07 PM
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and to apply ITIN, W7 form is used.

W7 form of dependents has to be sent along-with Federal Income tax return of the main tax filer. Also the year when you need to apply for ITIN for a dependent, you can not file electronic return, it has to be on paper with dependent's W7 application form. Firstly IRS will process dependent ITIN application and then they will apply the ITIN to main tax filer's Federal tax return and then they will process return.


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Old 03-11-2014, 10:51 AM
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thanks I've been panicking about this myself and am never going to live in the us again, certainly below the taxable income, should I bother?

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