taxes/retirement plans

[bealuct]

How does the tax system work in J? More specifically how what are the rates/how do they tax capital gains in j? Would I have to pay taxes in both the US and J?

Is here a J equivalent to the 401K/IRA etc? Is it available to PRs?

Etc... I don't know much about this so maybe I can get some help from you guys.

[Iraira]

How does the tax system work in J? More specifically how what are the rates/how do they tax capital gains in j? Would I have to pay taxes in both the US and J?

Is here a J equivalent to the 401K/IRA etc? Is it available to PRs?

Etc... I don't know much about this so maybe I can get some help from you guys.

A little too sleepy to start explaining many of the specifics, but basically if you are an American who lives in a foreign country for an entire fiscal year (>320 days or so), something like the first $85,000 (or $85,000 X(365 - days out of country/365)) of your salary is tax-free. After that, you need an accountant.

[bealuct]

Hmm.. that's good. But I generally try to get by doing my own tax returns. I wonder if I would be able to do that in J as well.

Anyway... would like to know the status on the cap gains tax. I would be the victim of massive cock-block if I'm taxed through the frontdoor and the backdoor though. (In this case backdoor being the US)

[omae mona]

Hmm.. that's good. But I generally try to get by doing my own tax returns. I wonder if I would be able to do that in J as well.

Anyway... would like to know the status on the cap gains tax. I would be the victim of massive cock-block if I'm taxed through the frontdoor and the backdoor though. (In this case backdoor being the US)

If you are a U.S. citizen, your worldwide income is all subject to U.S. tax. If you are a Japan "tax permanent resident", your worldwide income is also all subject to Japanese tax (that means sales of assets in the U.S. are subject to Japanese capital gains tax). I believe you qualify as a tax permanent resident if either one of the following conditions hold:

1. Your residence status is actually "permanent resident"
2. Over the last 10 year period, you have been in Japan for a total of 5 years or more

I believe the cap gains rate in Japan is the same rate as your regular income.

[bealuct]

I believe the cap gains rate in Japan is the same rate as your regular income.

deadly...

edit: failed quote

[nottu]

[Taro Toporific]

Roth & U.S. Taxes While Working Abroad
http://www.foreignersfinances.com/roth-u-s-taxes-while-working-abroad/

[kate4]

Small companies should also have their retirement plans for employees.
retirement plan services

[wagyl]

OMG, The Agbay Group is the kind of organisation that will send spam posts to a three year old thread in a website calling itself Fucked gaijin! They'll have my very best interests at heart and selflessly do what is best for my financial future, I can tell! Suberbly targetting this collection of US-centric small business owners!

[Coligny]

image.jpg

"I'm heading to the gym in 26 minutes"

[wagyl]

He has the sort of eyes which warn "best not to sit next to me in the sauna."

And I hope to God you hotlinked that pic so that this shows up in server logs.

[IparryU]

How does the tax system work in J? More specifically how what are the rates/how do they tax capital gains in j? Would I have to pay taxes in both the US and J?

Is here a J equivalent to the 401K/IRA etc? Is it available to PRs?

Etc... I don't know much about this so maybe I can get some help from you guys.

dont invest into the Japanese pension system... dont.

[Coligny]

He has the sort of eyes which warn "best not to sit next to me in the sauna."

And I hope to God you hotlinked that pic so that this shows up in server logs.

Sorry, but since I discovered that IOS 6 allows upload from the photo library through Safari I always re-up...

[yanpa]

He has the sort of eyes which warn "best not to sit next to me in the sauna."

And I hope to God you hotlinked that pic so that this shows up in server logs.

[Coligny]

Nasty, nasty, nasty octopus...

[Big Booger]

This is a great question and hope to see some other info related to this.