Site Search:
 
Speak Korean Now!
Teach English Abroad and Get Paid to see the World!
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 

Tax Law Skewed for Americans?

 
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> General Discussion Forum
View previous topic :: View next topic  
Author Message
red_devil



Joined: 30 Jun 2008
Location: Korea

PostPosted: Tue Dec 29, 2009 5:20 am    Post subject: Tax Law Skewed for Americans? Reply with quote

I heard from a guy that while it's true that we don't have to pay US taxes on anything under $80K, if we end up double taxed since we have to pay US taxes. Other country foreigners do not have to or their limits are much much higher like $200,000+
Back to top
View user's profile Send private message Visit poster's website
caniff



Joined: 03 Feb 2004
Location: All over the map

PostPosted: Tue Dec 29, 2009 7:23 am    Post subject: Reply with quote

Skewed against Americans?

Maybe I'm not reading your post correctly.
Back to top
View user's profile Send private message
reactionary



Joined: 22 Oct 2006
Location: korreia

PostPosted: Tue Dec 29, 2009 7:27 am    Post subject: Reply with quote

I think he means it's skewed against us americans earning over 80,000 USD a year.
Back to top
View user's profile Send private message
runthegauntlet



Joined: 02 Dec 2007
Location: the southlands.

PostPosted: Tue Dec 29, 2009 7:31 am    Post subject: Reply with quote

That made absolutely no sense, OP.

Try again.
Back to top
View user's profile Send private message
Konglishman



Joined: 14 Sep 2007
Location: Nanjing

PostPosted: Tue Dec 29, 2009 7:37 am    Post subject: Reply with quote

reactionary wrote:
I think he means it's skewed against us americans earning over 80,000 USD a year.


Actually, the foreign income exclusion limit is now 91,000 USD. On the other hand, if you get a certificate of residency from the IRS, then you can avoid paying extra taxes in Korea.
Back to top
View user's profile Send private message
mc_jc



Joined: 13 Aug 2009
Location: C4B- Cp Red Cloud, Area-I

PostPosted: Tue Dec 29, 2009 8:14 am    Post subject: Reply with quote

I think he meant screwed.
But there are very few Americans (even fewer American ESL teachers) who earn over the taxable limit.

Luckily Obama is not Kerry. I read in the Financial Times before the elections in '04 that Kerry wanted to tax all Americans living overseas, regardless of their income.

I have to pay income tax anyway because I get W2s for my work onbase.
Back to top
View user's profile Send private message
Konglishman



Joined: 14 Sep 2007
Location: Nanjing

PostPosted: Tue Dec 29, 2009 8:23 am    Post subject: Reply with quote

mc_jc wrote:
I think he meant screwed.
But there are very few Americans (even fewer American ESL teachers) who earn over the taxable limit.

Luckily Obama is not Kerry. I read in the Financial Times before the elections in '04 that Kerry wanted to tax all Americans living overseas, regardless of their income.

I have to pay income tax anyway because I get W2s for my work onbase.


I thought that all military personnel working overseas are granted the foreign income exclusion.
Back to top
View user's profile Send private message
Hyeon Een



Joined: 24 Jun 2005

PostPosted: Tue Dec 29, 2009 8:30 am    Post subject: Reply with quote

If you earn more than 91k a year I suggest you get a non-residency deal (talk to your accountant, I'll assume you have one if you're making this kind of money). In this case you'll be A-OK.

If you're worried about being 'discriminated against' it's the US government, that's desparate for your tax dollars, not the Korean one. The Korean government doesn't care whether you're from the US, Canada, the UK, Belgium, France or South Africa.

The US government is the most discriminatory in the world... against its own citizens Wink
Back to top
View user's profile Send private message
big_fella1



Joined: 08 Dec 2005

PostPosted: Tue Dec 29, 2009 12:57 pm    Post subject: Reply with quote

Hyeon Een wrote:
The US government is the most discriminatory in the world... against its own citizens Wink


Sorry to hijack but I think a lot of children who were born in Guam by Korean parents are going to be upset with mum and dad when they start working and paying taxes.
Back to top
View user's profile Send private message
mc_jc



Joined: 13 Aug 2009
Location: C4B- Cp Red Cloud, Area-I

PostPosted: Tue Dec 29, 2009 3:24 pm    Post subject: Reply with quote

Quote:
I thought that all military personnel working overseas are granted the foreign income exclusion.


Thats a common misconception.
Servicemembers, civilian employees and contractors are only exempt when they are serving in an active combat zone like Afghanistan or Iraq. Korea was taken off the list in the 1990's. I remember when I first arrived here my salary was tax exampt because Korea shouldered a large burden of funding the operations here at the time. Now its more or less 50/50.
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 -> General Discussion Forum All times are GMT - 8 Hours
Page 1 of 1

 
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 © 2018 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