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tuckerpiontek
Joined: 26 Oct 2009
Location: TongYeong, South Korea
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 Posted: Fri Oct 30, 2009 6:51 pm Post subject: American taxes after returning from teaching |
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| I am about to teach english in Korea for the next year and I am wondering if as an american, will i have to be pay income taxes in america for the money that i earned in korea? |
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Stones1962
Joined: 26 Nov 2008
Location: Europe/Asia
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| Posted: Fri Oct 30, 2009 11:03 pm Post subject: |
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Kuros
Joined: 27 Apr 2004
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| Posted: Sat Oct 31, 2009 1:14 am Post subject: |
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Yes, but you get to exclude roughly $82,000/year. Also, if you were making that much, you should look into how much you might deduct/exclude for paying Korean taxes.
Americans technically do have to pay taxes while abroad, but it really only affects high-earners like lawyers and I-bankers working in nearly income tax-free countries (Singapore, Hong Kong, etc). And they are very bitter about it, believe me. |
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