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US income tax on Japanese earnings?

 
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skomand



Joined: 03 Jun 2006
Posts: 29
Location: Philadelphia, PA

PostPosted: Thu Jun 22, 2006 12:49 pm    Post subject: US income tax on Japanese earnings? Reply with quote

Will I have to pay US income tax on my earnings in Japan?
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bornslippy1981



Joined: 02 Aug 2004
Posts: 271

PostPosted: Thu Jun 22, 2006 1:43 pm    Post subject: Reply with quote

If you make over $80,000 then you have to pay taxes. I doubt you're going into such a position, so there's no need to worry about it.

For the 2006 tax year, you'll still need to file a Form 1040 - Federal Tax Form - and also include a Form 2555 - Foreign Earned Income.

There are "tax pros" in Japan who will charge you 15,000 Yen to fill out the paperwork. You don't need to worry about these jokers, as you can download the forms, and send them in yourself.

By early February, 2007, you'll have your 2006 W-2 forms from your employers in the states. Have somebody you know scan these, and e-mail them to you. You can print them out, and use Form 1040 downloaded from the IRS, or use an online tax company, such as TurboTax to fill out the information.

You might want to bring your 2005 tax returns with you, as it will be easier than having people at home scramble to find them. If you use TurboTax or any other company, you'll need to enter your 2005 income for direct deposit, assuming you're getting a refund.

If you need more information, please ask.
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skomand



Joined: 03 Jun 2006
Posts: 29
Location: Philadelphia, PA

PostPosted: Fri Jun 23, 2006 5:34 pm    Post subject: Reply with quote

you've been very helpful, thank you.
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