Announcement

Collapse
No announcement yet.

On The Money

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • On The Money

    Until now we have been seriously lacking a section concerning finances and I shall be moderating this new area of the forum.

    A resident of Thailand for eleven and a half years I have built my own company, with its four staff, from scratch, handling expatriate taxes. I regularly hold meetings with Revenue Department Directors, Inspectors, and occasionally the Head of the Revenue Department's International Tax Division. I also have experience of working with the Thai banks and handle referrals from one of the major international accounting firms on personal taxation issues for British expatriates.

    My 3,500 word article on teachers' tax treaty issues, which appears elsewhere in the Internet, will be updated and uploaded next week but before then I shall write articles on US and UK residency rules, plus how they impact with the US and UK Double Taxation Agreements.

  • #2
    Originally posted by Thormaturge View Post
    I shall be moderating this new area of the forum.

    handling expatriate taxes
    Keep your friends close and your enemies closer

    Comment


    • #3
      ^
      Why would that be?

      Comment


      • #4
        With respect to a thread next door: Reporting a Foreign Bank Account to Your Tax Collectors

        Keep your friends close and your enemies closer

        Comment


        • #5
          ^
          Well I manage a network of almost 2,000 international tax advisors on Linkedin and belong to two professional international tax associations, so my advice is informed.

          What do you think happens with these forms?

          Comment


          • #6
            Originally posted by Thormaturge View Post
            Well I manage a network of almost 2,000 international tax advisors on Linkedin and belong to two professional international tax associations, so my advice is informed.
            Keep your friends close and your enemies closer

            Comment


            • #7
              I have asked you for your explanation of what happens to the foreign bank account reporting forms, but you have merely replied with yet another derogatory comment.

              If you are not going to give your own account of what happens to forms such as the 8938, but merely resort to offensive statements, then you have failed to establish anything.

              Comment


              • #8
                Originally posted by Thormaturge View Post
                ^
                Well I manage a network of almost 2,000 international tax advisors on Linkedin
                best not forget to put that on your resume. Almost as impressive as LDMA from Ajarn who listed his forum moderating experience..... *snigger*

                Comment


                • #9
                  Well, if there is someone here who thinks they are better or equally qualified, feel free to state your case. But for many expats (not me), I think it is potentially a useful sub-forum.

                  Comment


                  • #10
                    Sadly, I have seen it for years. Expats feeling the need to one up and insult other expats on nearly every subject. I see the expat community in Thailand the same way I see prison culture. There is this weird pecking order of c̶o̶n̶v̶i̶c̶t̶s̶ errrr expats that feel this great need to dominate the c̶e̶l̶l̶ ̶h̶o̶u̶s̶e ̶ sorry, the local Thai village. Just let the guy post what he wants to post. If he wants to post about money issues, then let him do his thing. It is really sad to see grown men on the attack for no reason at all.

                    Comment


                    • #11
                      Originally posted by Thormaturge View Post
                      Well I manage a network of almost 2,000 international tax advisors on Linkedin and belong to two professional international tax associations, so my advice is informed.

                      What do you think happens with these forms?
                      The penalties could be devastating for an ordinary American and could completely wipe someone out.http://www.irs.gov/Businesses/Corpor...ance-Act-FATCA

                      The post you made at TD was irresponsible but not surprising; given your lackluster credentials you so proudly flaunt here, and why I consider you dangerous and stand by my statement. You are dangerous.

                      Originally posted by Maimeetang View Post
                      It is really sad to see grown men on the attack for no reason at all.
                      No reason? No, there's a reason. He's dangerous and people should know.
                      Keep your friends close and your enemies closer

                      Comment


                      • #12
                        since the post you quote from was referring to the FBAR filing I could not agree more. You have confused the Schedule B form which is part of the 1040 with the completely separate FBAR filing. I wasn't even referring to Schedule B.

                        Here, have a read of this:

                        http://www.irs.gov/Businesses/Small-...-Accounts-FBAR


                        The several different things you say the IRS is looking for:

                        1) money laundering
                        2) tax evasion
                        3) laundering drug money
                        4) personal wealth is increasing beyond what is reasonable for your income
                        5) information the IRS receives suggesting you may be up to no good

                        I called you out for making such an absurd statement/s.
                        You miss off the next part of my post, about looking for any evidence that your wealth is increasing beyond what is reasonable for your income. The FBAR reports are for people to declare the highest cash balances in their overseas accounts. So long as the annual 1040 reveals income to support any increase in the amounts declared on the FBAR report they really have little to worry about.

                        Why would a random audit cause a problem if the person has filed correctly? My post makes it absolutely clear that if the Treasury or IRS receive information that indicates a person has failed to report information about overseas accounts when they should, then they can expect to be fined and "subjected to something worse than the Spanish inquisition".

                        Those FBAR reports and you complying with the law when filing your taxes should not be taken lightly.
                        I would not call being fined and subjected to something worse than the Spanish inquisition "light".

                        Comment


                        • #13
                          Originally posted by Maimeetang View Post
                          Sadly, I have seen it for years. Expats feeling the need to one up and insult other expats on nearly every subject.
                          Agree. Also, a little bit of knowledge is a dangerous thing. Anybody who takes tax advice from an anonymous forum should have their head examined. Same for investment advice. If you're not reading, studying, researching, you're not learning anything about the subject. It's nearly impossible to take anything on these forums seriously. It's all entertainment -- like a trip to the zoo. Sure you might learn the migration patterns of the African wildebeast, or which flowers the yellow-bellied sap sucker prefers, but after you go home and unwind, the only thing you'll remember from the trip is how the gorillas flung poo on the Japanese tourist or how deftly the giraffe's tongue snatched the mango from the kids grasp. It;s all superficial and any attempt to make it informative is usually futile. We'll see what direction this forum takes.
                          Last edited by Texpat; 08-11-2014, 04:37 PM.

                          Comment


                          • #14
                            I dont think that's the case at all, but don't let that stop your rhetoric

                            Comment


                            • #15
                              That was to Chitown. I didnt rwalie there was anither page

                              Comment

                              Valentina Jewels gets pounded like a btich dog ?????? ??????? ????????? ???????? ???? diferentes tipos de bajinas
                              antalya escort bayan
                              Working...
                              X