Site Search:
 
TEFL International Supports Dave's ESL Cafe
TEFL Courses, TESOL Course, English Teaching Jobs - TEFL International
Korean Job Discussion Forums Forum Index Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Do university teachers pay tax?
Goto page Previous  1, 2
 
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Job-related Discussion Forum
View previous topic :: View next topic  
Author Message
skeeter



Joined: 25 Jan 2003

PostPosted: Mon Jan 27, 2003 4:27 pm    Post subject: Reply with quote

The 2-year tax exemption for Americans is only for Korean income taxes. I haven't paid Korean income tax for three years - two years at my last university and this year at my present university. It appears that when you get a new job (new visa, new alien registration card), the two-year exemption starts again at the beginning.
Back to top
View user's profile Send private message
Derrek



Joined: 15 Jan 2003

PostPosted: Mon Jan 27, 2003 7:57 pm    Post subject: Ok... I'm stupid Reply with quote

I still am confused. Here is my situation...

Lets say I stay working at Hagwons for 3 years -- making less than 70,000 per year (of course).

At what point to I have to start paying taxes to Uncle Sam in the USA? After 3 years? Never? What's your input?

Thanks.
Back to top
View user's profile Send private message
mack the knife



Joined: 16 Jan 2003
Location: standing right behind you...

PostPosted: Mon Jan 27, 2003 8:22 pm    Post subject: earned vs. savings Reply with quote

derrek

are you asking whether or not you have to pay taxes on your savings?

you never have to pay taxes for any given year if you make less than (now, apparently 80 thou) a year....

if you have saved 80 thou, and are earning interest on it, do you have to pay taxes on the earned interest? is that what you are asking?
Back to top
View user's profile Send private message
Derrek



Joined: 15 Jan 2003

PostPosted: Mon Jan 27, 2003 8:36 pm    Post subject: Hmmm Reply with quote

Hadn't thought about taxes on money in the bank...

My concern is income tax. Wondering if I'll have to start paying income tax to the USA one day for the money I'm making in Korea.

Thanks
Back to top
View user's profile Send private message
rasta man
Guest




PostPosted: Mon Jan 27, 2003 10:38 pm    Post subject: Reply with quote

in a word "never" when you meet the requirements for the year thats it the first $80k that year is exempt and always will be, you wont have to pay taxes on it in the future unless you did something to cause an audit and they disallow it.

above all file every year you are here. If you skip a couple of years that will raise a huge flag with them when you do file
Back to top
Pilcrshr



Joined: 22 Jan 2003
Location: Seoul, Korea

PostPosted: Tue Jan 28, 2003 12:11 am    Post subject: Re: 2555EZ Reply with quote

gajackson1 wrote:
Also, the exclusion is US$ 80k -


It is indeed $80kUSD. I stand corrected. The form you need is the 2555 Foreign Earned Income. The tax exclusion was raised to $80k from $70k over a period of 5 years beginning 1997. I'm working on old material. Smile You should use the 2555 EZ Foreign Income Earned Exclusion to file with the IRS.

You must file every single year. If you earn less than $80k per year, then you will not have to pay US Taxes. As stated in the above post, it is all all earned, unearned, and variable income must fall below $80k.

Here's a link to the IRS website http://www.irs.gov/pub/irs-pdf/p54.pdf.
Back to top
View user's profile Send private message
The Hammer



Joined: 18 Jan 2003
Location: Ullungdo 37.5 N, 130.9 E, altitude : 223 m

PostPosted: Tue Feb 04, 2003 11:03 pm    Post subject: Reply with quote

Let's say...

Cool I am an American
Cool My uni pays me 2M won per month (Pretax)

Shocked Do I understand correctly that they are not supposed to take tax deductions from my pay? or Are they supposed to make deductions?

The Hammer Laughing
Back to top
View user's profile Send private message
beebee



Joined: 03 Feb 2003

PostPosted: Wed Feb 05, 2003 7:42 am    Post subject: Reply with quote

non-americans are exempt for your first year at a uni. I got all my tax back - just get a korean friend to ring the tax office give the name and no of who you spoke to to your pay office -worked for me
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Job-related Discussion Forum All times are GMT - 8 Hours
Goto page Previous  1, 2
Page 2 of 2

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2013 Dave Sperling. All Rights Reserved.

Powered by phpBB © 2001, 2002 phpBB Group

TEFL International Supports Dave's ESL Cafe
TEFL Courses, TESOL Course, English Teaching Jobs - TEFL International