Possibly simple tax questions

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  1. #1

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    Possibly simple tax questions

    i was going to have a company do my taxes here, but it seems to cost an arm and leg...


    they want to charge me about 9000 HKD for:
    NJ filing
    MA filing
    USA Federal filing
    HK filing

    this seems like a lot to me.....

    i know how to do most of them.....just dont know the HK one...is that one tough?



    also....if i still have bills and and bank accounts in USA....am i still able to qualify for the 80K exemption for overseas?


  2. #2

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    The Hong Kong one is simple. Takes 15 minutes or so.

    As for the 80k, you really need to do some professional research on this one. There are a number of restrictions (time, etc) before you can claim it.

    If you are going to hire someone, you may look at a US company that specializes in expats--the HK portion you can easily do yourself.


  3. #3

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    i heard its a simple 1080x form...i havent looked at it yet...maybe i should view the pdf first...hmmm


  4. #4

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    what do i need to prove my residency here in HK to be exempt from USA taxes?


  5. #5

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    The IRS has what appears to be an extremely detailed and comprehensive website. Doesn't that give you the answer? Possibly these sections:

    http://www.irs.gov/taxtopics/tc855.html
    http://www.irs.gov/publications/p54/ch04.html#d0e2530

    and you appear to need to complete this form:
    http://www.irs.gov/pub/irs-pdf/f2555.pdf
    in order for them to determine whether you are entitled to any exemptions.

    Last edited by PDLM; 09-01-2006 at 09:16 AM.

  6. #6

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    its also very confusing there.....lol

    i just wanted to try to do this on my own.....but i want to look to see how difficult it is for me to prove my worthiness


  7. #7

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    well...i know the qualifications...

    but i am looking more for people who have done this before, what they needed to actually prove this

    like just a copy of passport showing theyve been in hk?
    or a copy of res id?

    i ask cause my apartment is in companies name...not mine
    so i dont think i can use this as proof...and just worried about what i can use as proof


  8. #8

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    the US charges world tax, i dont think you can avoid it. sucks to be american eh?


  9. #9

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    Quote Originally Posted by hughb2000:
    the US charges world tax, i dont think you can avoid it. sucks to be american eh?

    huh?


    you get exempt up to 80K for foreign earned income

  10. #10

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    I have never filed taxes myself. But would like to learn a few things, since my husband is now working in Hk and is a citizen of US. First of all, when are the tax forms due, in HK? Secondly, what are the things that an expat needs to be careful about?

    Appreciate your responses...