Assuming your company doesn't care... and I don't know if that's a fair assumption giving that most global companies of any size have process in place to deal with currency fluctuations... you need to decide if you want to be paid in US dollars or Sing dollars.just2019 wrote:Thank you so much, this is very helpful!
If I’m reading this correctly my best bet is to have my company do a one time pharmac thank you so much, this is very helpful!
If I’m reading this correctly my best bet is to have my company do currency conversion and then get paid into a SG bank. This will allow for greater credit history as I spend more time in Asia.
Is it normal to have my company reassess the currency’s if the Singapore dollar happens to go down or up during my bi-weekly payments?
You may have to make quarterly estimated tax payments depending upon your circumstances.just2019 wrote:I'm hearing that I will still have to pay the IRS whiling living in SG quarterly, is that true or do I make a payment at the end of the year once I pay my SG tax payment too then subject the tax paid in SG to my US tax.. SG tax sounds easy but the US stuff is sounding to be difficult to keep up with.
You can thank your good buddy for that!sundaymorningstaple wrote:And if anybody out there still does their own, other than myself, have a ball this year. I just finished up mine last evening and it takes 2x as long to do the same return and I got hit with an extra US$980 tax bill thanks to social security kicking in for the 1st full year (the year before was only 4 months) and MfS without any chillens in the house to bounce me into the HoH tax rates. CPF interest rates compounding isn't helping either! They have redone the whole 1040 and ancillary packages into a modular affair (so, as they claim, there will be less paperwork, but for us types, we still end up filling out (in my case) 5 of the 6 new Schedules 1-6). But the old forms are still there as well. Well and truly screwed this year (1st time I've been caught flatfooted with the IRS in the 54 years I've been filing).
Tell me about it! (just glad I waited until 70 before starting to draw it.).Strong Eagle wrote:SS as passive income... sounds about right... and with mandatory distributions, no fun at all.
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