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Tobias
Joined: 02 Jun 2008
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 Posted: Sun Jul 13, 2008 2:22 am Post subject: Some other big questions to ask |
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There are posts galore on what to ask a Hokwan if you're green to Korea. Most leave out two biggies, however....Allow me address those right now.
Hokwans:
"If my students or their parents complain, will it get me fired?"
"If I fly all the way to Korea from the west and get fired because of bitching and moaning students/parents two months later, will the outfit pay for my flight back home?"
And the flipside for the IRS (If you're from the USA):
"If I have to return to the USA to get a new visa for a new job because I got fired for BS reasons before being out of the country 330 consecutive days, can I get an exemption on taxes?"
Anyone coming here who hasn't been here before should know what effects complainers will have on one's job security and one's tax status in his or her home country. |
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Ut videam
Joined: 07 Dec 2007
Location: Pocheon-si, Gyeonggi-do
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| Posted: Sun Jul 13, 2008 2:27 am Post subject: Re: Some other big questions to ask |
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| Tobias wrote: |
| "If I have to return to the USA to get a new visa for a new job because I got fired for BS reasons before being out of the country 330 consecutive days, can I get an exemption on taxes?" |
They don't have to be consecutive days.
They just have to add up to a total of 330 days outside the country during any continuous 12-month period (i.e., 12 consecutive months).
The tax exemption is then prorated according to this formula:
$85,700 (TY 2007) / 365 * (days outside country in TY) = exemption amount |
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Tobias
Joined: 02 Jun 2008
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| Posted: Sun Jul 13, 2008 2:32 am Post subject: Even the IRS has it wrong, then |
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Thanks for the info. The IRS helpline told me it had to be consecutive, but the guy seemed to be not so knowledgeable about a lot of other issues. Maybe he didn't do his homework. He had to use a flowchart to determine if I could claim total exemption, which I did qualify for. After going back and looking at the 2555 instructions, I see he did have it wrong. It doesn't have to be consecutive. It just has to sum to 330.
This means if you're sitting around in the US waiting for longer than 35 days during a TY on a new E-2, well...you know the rest. |
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