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PRagic
Joined: 24 Feb 2006
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 Posted: Thu Jul 16, 2015 6:28 pm Post subject: |
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Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
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Poker
Joined: 16 Jan 2010
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| Posted: Sun Jul 19, 2015 5:27 pm Post subject: |
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It is all legal guys.
From the Korean stock market. Will get documents from the securities company before sending it out. |
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drcrazy
Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan
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| Posted: Tue Aug 04, 2015 3:52 am Post subject: |
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| PRagic wrote: |
Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
Right about Fbars. They only take a few minutes to do once a year. But if you have not been doing them, they can take all of your money and also huge fines and possible prision terms. They are 100,000,000 times more unforgiving than IRS. Also hope you have taken a few minutes a year to do your 1040 with the 2555EZ and Schedule B. Only takes me about 10 minutes. But if you have not, you can also be in huge trouble, and with no excuse since it says in our passports we must declare all world made income on our yearly tax return.
Last edited by drcrazy on Tue Aug 04, 2015 4:00 am; edited 3 times in total |
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drcrazy
Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan
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| Posted: Tue Aug 04, 2015 3:58 am Post subject: |
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| northway wrote: |
| Chaparrastique wrote: |
Can't you just withdraw it in dribs and drabs once you are home in the US?
I mean make sure your bankcard/ credit card is enabled for international use, then just use it when you get home. |
$50,000 is a hell of a lot of dribs and drabs. What are you doing with the money when you take it out? Using it as spending money? That will take awhile. Depositing it? Then you need to tell the IRS where it came from, which sounds like a headache. Or buying gold like the rest of the people here? |
The IRS should arlready know if he has been keeping up with his 1040's, and the 2555EZ lets us make now over 90,000 dollars a year that we do not have to pay US tax on. (IF we do out yearly forms). If not, they can tax what you made in Korea (every won of it) at US tax rates, and then fine the crap out of you also for late fees, breaking the law, etc. |
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Tue Aug 04, 2015 8:55 pm Post subject: |
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| drcrazy wrote: |
| PRagic wrote: |
Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
Right about Fbars. They only take a few minutes to do once a year. But if you have not been doing them, they can take all of your money and also huge fines and possible prision terms. They are 100,000,000 times more unforgiving than IRS. Also hope you have taken a few minutes a year to do your 1040 with the 2555EZ and Schedule B. Only takes me about 10 minutes. But if you have not, you can also be in huge trouble, and with no excuse since it says in our passports we must declare all world made income on our yearly tax return. |
Where did you get the 100,000,000 times more unforgiving data from? You are making things up. |
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drcrazy
Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan
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| Posted: Tue Aug 04, 2015 10:25 pm Post subject: |
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| tophatcat wrote: |
| drcrazy wrote: |
| PRagic wrote: |
Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
Right about Fbars. They only take a few minutes to do once a year. But if you have not been doing them, they can take all of your money and also huge fines and possible prision terms. They are 100,000,000 times more unforgiving than IRS. Also hope you have taken a few minutes a year to do your 1040 with the 2555EZ and Schedule B. Only takes me about 10 minutes. But if you have not, you can also be in huge trouble, and with no excuse since it says in our passports we must declare all world made income on our yearly tax return. |
Where did you get the 100,000,000 times more unforgiving data from? You are making things up. |
Search the internet and you will see how serious they are.
Read their penalties, etc. EDUCATE yourself. |
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drcrazy
Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan
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| Posted: Tue Aug 04, 2015 10:39 pm Post subject: |
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| tophatcat wrote: |
| drcrazy wrote: |
| PRagic wrote: |
Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
Right about Fbars. They only take a few minutes to do once a year. But if you have not been doing them, they can take all of your money and also huge fines and possible prision terms. They are 100,000,000 times more unforgiving than IRS. Also hope you have taken a few minutes a year to do your 1040 with the 2555EZ and Schedule B. Only takes me about 10 minutes. But if you have not, you can also be in huge trouble, and with no excuse since it says in our passports we must declare all world made income on our yearly tax return. |
Where did you get the 100,000,000 times more unforgiving data from? You are making things up. |
You might want to take a peak at this. http://www.irs.gov/irm/part8/irm_08-011-006.html
Oh, and do not think that just because you only had just a little over the 10,000 dollars in your korean bank(s) they don't care about such small fish. They do!!!!!
As for stories about small fish getting fried, you can search that. I am not going to do all of the work for you. |
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Wed Aug 05, 2015 1:18 am Post subject: |
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| drcrazy wrote: |
| tophatcat wrote: |
| drcrazy wrote: |
| PRagic wrote: |
Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
Right about Fbars. They only take a few minutes to do once a year. But if you have not been doing them, they can take all of your money and also huge fines and possible prision terms. They are 100,000,000 times more unforgiving than IRS. Also hope you have taken a few minutes a year to do your 1040 with the 2555EZ and Schedule B. Only takes me about 10 minutes. But if you have not, you can also be in huge trouble, and with no excuse since it says in our passports we must declare all world made income on our yearly tax return. |
Where did you get the 100,000,000 times more unforgiving data from? You are making things up. |
Search the internet and you will see how serious they are.
Read their penalties, etc. EDUCATE yourself. |
Where did you get the 100,000,000 times more unforgiving from from? You can't deny it. You made that number up. It's like saying the average apartment in Seoul is 100,000,000 times more expensive than the average apartment in Busan. It's a DRAMA number you pulled out of your back pocket, and then tied it to your tale. |
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drcrazy
Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan
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| Posted: Wed Aug 05, 2015 4:33 am Post subject: |
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| tophatcat wrote: |
| drcrazy wrote: |
| tophatcat wrote: |
| drcrazy wrote: |
| PRagic wrote: |
Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
Right about Fbars. They only take a few minutes to do once a year. But if you have not been doing them, they can take all of your money and also huge fines and possible prision terms. They are 100,000,000 times more unforgiving than IRS. Also hope you have taken a few minutes a year to do your 1040 with the 2555EZ and Schedule B. Only takes me about 10 minutes. But if you have not, you can also be in huge trouble, and with no excuse since it says in our passports we must declare all world made income on our yearly tax return. |
Where did you get the 100,000,000 times more unforgiving data from? You are making things up. |
Search the internet and you will see how serious they are.
Read their penalties, etc. EDUCATE yourself. |
Where did you get the 100,000,000 times more unforgiving from from? You can't deny it. You made that number up. It's like saying the average apartment in Seoul is 100,000,000 times more expensive than the average apartment in Busan. It's a DRAMA number you pulled out of your back pocket, and then tied it to your tale. |
Gee you must have 2 PhD's to have figured that one out. |
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drcrazy
Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan
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| Posted: Wed Aug 05, 2015 4:54 am Post subject: |
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| drcrazy wrote: |
| tophatcat wrote: |
| drcrazy wrote: |
| tophatcat wrote: |
| drcrazy wrote: |
| PRagic wrote: |
Always better to ask, and much better to be safe than sorry, but what is with all the paranoia? We've moved loads of coin legally back to the US over multiple years.
Declare your accounts here on the FBAR and at tax time, declare them and income from them again, plus any income generated from funds you moved to the US.
As ttompatz has already remarked, the limit you CAN send is a function of your documented, taxed income here plus a 50K extra 'open' amount. If you're paranoid, don't send the undeclared 50K. |
Right about Fbars. They only take a few minutes to do once a year. But if you have not been doing them, they can take all of your money and also huge fines and possible prision terms. They are 100,000,000 times more unforgiving than IRS. Also hope you have taken a few minutes a year to do your 1040 with the 2555EZ and Schedule B. Only takes me about 10 minutes. But if you have not, you can also be in huge trouble, and with no excuse since it says in our passports we must declare all world made income on our yearly tax return. |
Where did you get the 100,000,000 times more unforgiving data from? You are making things up. |
Search the internet and you will see how serious they are.
Read their penalties, etc. EDUCATE yourself. |
Where did you get the 100,000,000 times more unforgiving from from? You can't deny it. You made that number up. It's like saying the average apartment in Seoul is 100,000,000 times more expensive than the average apartment in Busan. It's a DRAMA number you pulled out of your back pocket, and then tied it to your tale. |
Gee you must have 2 PhD's to have figured that one out. |
I guess it would be like me saying my job is 100,000,000 times better than my best friend who teaches in a hogwan. But I only make 65,000,000 won a year for teaching 21 credit hours per year. So, that usually means 4 courses in Spring and 3 courses in Fall. So, with a 12 hour work week for one semester a year and a 9 hour work week for the other semester, I deserve my 4 month vacation, and my free apartment with a big living room a big TV, a big kitchen with a stove and a real oven (I love to bake) a huge bedroom, a nice dining room, a great bathroom with a huge tub, and a glassed in balcony that is about 20 feet long 10 feet wide 10 feet tall. All nicely furnished and I have free cable, free internet, do not have to pay for gas or electricity. With such a huge teaching load, and so little vacation, I am so glad that each year I always can find 10 free minutes to do my 1040 with schedule B attached and Form 2555EZ attached, and another 5 to ten minutes to do my FBAR. |
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