Deducting HK Taxes on US Taxes without HK Tax Bill Received

[techjunkee]

Is it possible to buy an HK Tax reserve certificate for the taxes you think you will pay in HK in order to deduct foreign taxes on your US return before you actually receive your assessment? My HK return was filed a week ago to the IRD and I'm worried I won't receive a bill before the end of the year and won't be able to deduct the HK taxes against my US taxes.

[Claire ex-ax]

You can buy tax reserve certificates for your Hong Kong taxes at any time. I buy them on a regular basis. Don't know how buying them affects US tax though.

[vmlinuz]

I doubt very much the US authorities will accept "I've saved some money to pay a potential future Hong Kong tax bill" as a deduction...

[Gruntfuttock]

But presumably you will be able to offset against next year's taxes, so it's only a cashflow issue.

[simonHarrall]

If you use a Hong Kong Deferred compensation pension plan then all assets and trades become tax deferred in the U.S. Oh and escapes divorce splitting , Ho Ho , it works by the wAy.