Overseas work and taxes

[Red Devil]

Anyone here currently work or have worked overseas? I may have a job opportunity coming up and would like to know how the taxes work before I make that leap. I know all companies are different, would just like different opinions.

Thanks

[waistdeep]

I've only done business trips, not termed assignments. Been to Italy, South Africa, Russia and Canada. I did try for a 2 year assignment, but since I had no diploma / degree that all fell through. All countries are different, some you can only come back into the US, for X number of days a year or face tax penalties. If you are working for a company that is going to have an oppoptunity to go overseas and work, they most likely have some HR type folks that you need to sit down and talk with. If they don't have people that can explain it to you, well Sir I think that is an answer in itself.

[Tonka337]

It has a lot to do with how long you go for, and how many total days out of country for the year. I got suckered by a local firm for a few years then I got hooked up with the right CPA that knew the laws. You should talk to ckinchen on here. He could possibly fill you in on the in and outs of it all. I spent 10 years workin overseas and just hung it up to work here in the gulf. PM me later and I can send you the contact info to my CPA. There's great money to be made across the pond. But, you have to make the right deal with your employer BEFORE you agree to a contract. Best of luck to you sir!

[huggybro]

Been doing it for 8 years. Work for a major in Angola. US residents are taxed on our citizenship not our residency. Work with lots of foreign expats and they all are tax free. Money is good but you earn it with all the BS you put up with. PM me if you want more info. Don't want to post too much about my work on here.

[Cletus3173]

I worked in Brazil a few years back. I was told that you could only be in the US for 29 days in a year. Brazil was tax free for me, but you could only be in country for a total of 182 days or the tax would kick in. Being expat would run the tax around 68%.

[papap]

I work 28&28 in a different country each hitch. I work for a major and get taken care of. LOL

[I make oil]

Pm me. I have worked overseas since 2004. I can give you pointers.

[Crawl79]

Originally Posted by Cletus3173

I worked in Brazil a few years back. I was told that you could only be in the US for 29 days in a year. Brazil was tax free for me, but you could only be in country for a total of 182 days or the tax would kick in. Being expat would run the tax around 68%.

I lived in Brazil for almost 7 years and paid taxes there. I also paid taxes in the US. I think the number of days you can be in the US is actually 35. I normally only spent 25-30 to visit my family and home office.
At the end of the year I received almost all of the taxes I paid in the US back. Which was more than enough to cover my Brazil taxes and have a huge bonus left over. It was worth it for me to stay out of the US but most can't be away from the US 330 days a year.

[Crawl79]

Originally Posted by Cletus3173

I worked in Brazil a few years back. I was told that you could only be in the US for 29 days in a year. Brazil was tax free for me, but you could only be in country for a total of 182 days or the tax would kick in. Being expat would run the tax around 68%.

The 182 is exactly correct and it doesn't have to be in a calendar year either, it is revolving. Unless you will stay in Brazil all year like I did it is very much worth not becoming taxable. The cost of accountants in Brazil are expensive and the amount of info Brazil wants to know about your US finances is crazy. Luckily my company paid for my accountants and the taxes throughout the year. Once I would get my US taxes back I would pay my company back for the taxes they paid for me in Brazil. Some companies don't make you do this but for me it wasn't so bad because I got almost 100% of my US income taxes back. It felt good not giving my money to Obama. This was the first year I did and I wanted to cry.... but at least I can go fishing and hunting whenever I want in LA!

[I make oil]

There are many other tax situations. It depends on the company you work for. Myself, I work for a foreign company (Swiss/Chinese in Nigeria) they pay all my foreign tax and give me a receipt. My foreign taxes wipes my US tax. Then since I work in a foreign country for a foreign company I'm not required to pay social security. NObama gets nothing from me. (I do have to pay state taxes in LA because they do not allow a foreign tax credit)

All of my money is wired to a Swiss account by my company which I then wire to my US accounts. There are no US tax documents filed by my company as they are not required to. I submit all documents for my taxes via my accountant (who I'd be willing to share) who submits a created W2 for knonk Sam. I show all my income and everything is entirely legal. I do pay taxes on my income from the US(investments, rentals etc). I've worked this same way all I've the world. So there are ways around things