American questions about getting PR

Discuss about life in Singapore. Ask about cost of living, housing, travel, etiquette & lifestyle. Share experience & advice with Singaporeans & expat staying in Singapore.
Post Reply
User avatar
EADG
Reporter
Reporter
Posts: 880
Joined: Thu, 01 Sep 2005 7:51 pm

Post by EADG » Mon, 20 Mar 2006 10:59 pm

sundaymorningstaple wrote: The only downside that I can see from an American POV is that there is no tax treaty between the US and Singapore. However, you still can take the income earned abroad exclusion for a portion of you earnings (if they qualify). I'm getting ready to do that next weekend.
sms, any advice for the most lazy taxpayer on this forum? In Japan I gladly had an accountant do it for me, having stayed over 5 years and he being an American knowing how to not get slammed twice - any good, resonably-priced help like that here?

your carefully considered assitance to this thread is sadly and shamefully wasted on me, I get dyslexic reading that stuff and would gladly pay to have someone do it (right) for me

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 39548
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 10
Location: Retired on the Little Red Dot

Post by sundaymorningstaple » Tue, 21 Mar 2006 9:32 am

EADG,

From what I know, most of the major (read big 4 or 5) international consultancies (KPMG, et al) have specialists in US taxation but also are not inexpensive. Unfortunately, H&R Block is no longer here in Singapore having bowed out back in the mid '80's (I was the District Director for HRB in Washington DC back in another lifetime - '70's).

Due to my background, I've always done my own. So I honestly cannot give you a good answer here. Sorry.

sms
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

fx8fx
Chatter
Chatter
Posts: 162
Joined: Thu, 06 Oct 2005 6:58 pm

Post by fx8fx » Thu, 30 Mar 2006 3:12 am

:???:
just realize a new question .

in case i become a TAX resident for Singapore , i might suffer double tax for my salary paid by my U.S. domestic firm .( while i did not pay tax for such income at this moment as my original country have tax treaty with U.S. )

wonder is it true or not ?

i checked with IRS's customer service via phone , looks like they are mixed also :???:

User avatar
Quasimodo
Reporter
Reporter
Posts: 595
Joined: Tue, 25 Oct 2005 9:31 am

Post by Quasimodo » Thu, 30 Mar 2006 10:20 am

fx8fx wrote::???:
just realize a new question .

in case i become a TAX resident for Singapore , i might suffer double tax for my salary paid by my U.S. domestic firm .( while i did not pay tax for such income at this moment as my original country have tax treaty with U.S. )

wonder is it true or not ?

i checked with IRS's customer service via phone , looks like they are mixed also :???:


Are you a US citizen or resident working overseas? I believe that has something to do with double taxation.

EADG - I'd let you off as you are such a nice guy. :)
One in the hand is worth two of something

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 39548
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 10
Location: Retired on the Little Red Dot

Post by sundaymorningstaple » Thu, 30 Mar 2006 11:06 am

fx8fx wrote::???:
just realize a new question .

in case i become a TAX resident for Singapore , i might suffer double tax for my salary paid by my U.S. domestic firm .( while i did not pay tax for such income at this moment as my original country have tax treaty with U.S. )

wonder is it true or not ?

i checked with IRS's customer service via phone , looks like they are mixed also :???:
As Singapore only has a limited Tax Treaty with the US (Business benefits only - nothing for the individual taxpayer), yes you would be saddled with double taxation.

As a wage earner, you could partake in the Income Earned Abroad exclusion ( 2555 ) provided which all other conditions were met. This only gives you a tax break on the first 78K usd (and that may well be limited depending on how much time you spend in the US on business). As a sole proprietor you would still have to pay Self Employment on the whole net profit even though you may be able to exclude a large amount of it from Income Taxes.

My best advice would be to obtain a copy of Publication 54 from the IRS website. Publication 54, Tax Guide for US Citizens and Resident Aliens Abroad

Most of your US tax questions can be found there or at least it is a starting point.

sms
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Staying, Living in Singapore”

Who is online

Users browsing this forum: No registered users and 0 guests