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nyc2010
Joined: 21 Feb 2011
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 Posted: Tue May 03, 2011 9:18 am Post subject: US Taxes |
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I was wondering about how US taxes work when I am earning in Korea. Will I be taxed in the US with the earnings I have made in Korea when I file my income tax report in 2012? I will be paying taxes in Korea for the money I earned there automatically, so does this mean I will be paying taxes twice. How does this whole process work? Can anyone tell me how the system works or point me in a direction to start researching?
Thanks, |
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laynamarya
Joined: 01 Jan 2010
Location: Gwangjin-gu
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| Posted: Fri May 06, 2011 9:22 am Post subject: Foreign-earned income exclusion |
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No, you only have to pay Korean taxes. You still need to file US taxes, but you won't owe anything and you won't get a refund.
However, if you happen to be from MA you need to submit a change of residency, or you are still liable for state taxes (found that out the hard way).
I think all other states have the foreign-earned income exclusion, however. |
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