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Manoj
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Joined: Sun, 28 Feb 2010 12:22 am
Location: New York

Moving to Singapore from NYC

Post by Manoj » Sun, 28 Feb 2010 1:29 am

I may be moving to Singapore from New York for a 2-3 year period in summer 2010 and was hoping to get advice on 3 things –

- What would be the best school for American kids (grades 11, and 5)? We did some research and felt the Singapore American School’s curriculum is similar to what we have in the US and would require the least adjustment for our children? Would you agree, or recommend a different school?

- What would be the best area to live if we wanted to be within 30-40 minutes (or less) from the school and my office. I will be working at North Bridge Road – next to Carlton Hotel / Raffles Hotel / Raffles City Tower. We ideally want a 4 bedroom/ 4 bath – what would be good areas to look for apartments/houses close to the school / my office, entertainment options (eating out, movies, marina, etc), access to the airport? Any recommendations for specific apartment buildings/condo’s?

- Would my personal income tax liability exceed my current taxes in the US? Taxes in the US are very high (~40% including Federal, State, City). I assume I can take a Foreign Tax credit for any taxes I pay in Singapore. So would my tax liability exceed what I pay currently? I have asked a tax advisor as well and thought it would be helpful to hear what other American’s may have experienced.

Thanks in advance

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maneo
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Post by maneo » Mon, 01 Mar 2010 3:02 am

Since your kids are relatively older, SAS should require the least adjustment.

Regarding taxes, if you can meet the physical presence criteria (e.g. 330 days out a 365 day period) then you may qualify for the overseas earned income exclusion.
You may get an automatic extension to file (next year) for being overseas, which should allow you to claim this exclusion.

The Foreign Tax Credit may then apply to any taxes paid on non-excluded income.

The IRS website provides detailed info - best to go directly to the source:
http://www.irs.gov/businesses/small/int ... 24,00.html
Download Publication 54 - Tax Guide for U.S. Citizens and Residents Abroad.

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