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US tax exemption

I am currently working in Geneva for the year and going back to the US next year where I will need to file taxes for my time here in Geneva. Does anyone know how long you need be be gone from the US to be tax exept there? Any information on this would be great!

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I am currently working in Geneva for the year and going back to the US next year where I will need to file taxes for my time here in Geneva. Does anyone know how long you need be be gone from the US to be tax exept there? Any information on this would be great!


Stephanie LMar 7, 2013 @ 13:03
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Re: US tax exemption
Post 1

If youre American you are NEVER tax exempt, and need to file your returns every year for your global earnings.

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If youre American you are NEVER tax exempt, and need to file your returns every year for your global earnings.


Charlie, Mar 7, 2013 @ 13:17
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Re: US tax exemption
Post 2

Hi, it is like 330 days, but might be different if you are bona fide resident...UN employees also have another status.


You are exempt on income tax for the first 80,000 or around that ball park, if you are self-employed, you pay self employment tax to cover your social security.


If you pay swiss taxes/ social security you also claim those...I use an accountant, let me know if you would like his contact details, he is based in the US, but we do everything online, I have used him for the past 4 years, and so far so good, there is allways something to pay the IRS :)


Good Luck!

The text you are quoting:

Hi, it is like 330 days, but might be different if you are bona fide resident...UN employees also have another status.


You are exempt on income tax for the first 80,000 or around that ball park, if you are self-employed, you pay self employment tax to cover your social security.


If you pay swiss taxes/ social security you also claim those...I use an accountant, let me know if you would like his contact details, he is based in the US, but we do everything online, I have used him for the past 4 years, and so far so good, there is allways something to pay the IRS :)


Good Luck!


simone h, Mar 7, 2013 @ 13:15
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Re: US tax exemption
Post 3

Good one Charlie, as an American abroad I cringe when I hear people that NEVER file, because they think that US tax exemption means no taxes....WRONG, read the rules people, and file regardless, especially if you expect to get some kind of social security benefits from thte US.

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Good one Charlie, as an American abroad I cringe when I hear people that NEVER file, because they think that US tax exemption means no taxes....WRONG, read the rules people, and file regardless, especially if you expect to get some kind of social security benefits from thte US.


simone h, Mar 7, 2013 @ 13:25
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Re: US tax exemption
Post 4

Hi Charlie and SImone, 


I never said I was not filing my taxes, I even clearly said that I am in my post. All I wanted was some information on tax exemptions. Thanks

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Hi Charlie and SImone, 


I never said I was not filing my taxes, I even clearly said that I am in my post. All I wanted was some information on tax exemptions. Thanks


Stephanie L, Mar 7, 2013 @ 13:29
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Re: US tax exemption
Post 5

Stephanie


This was the question of yours  I was answering;


"Does anyone know how long you need be be gone from the US to be tax exept there? Any information on this would be great!"


Answer : You're never tax exempt If you are a US citizen.

The text you are quoting:

Stephanie


This was the question of yours  I was answering;


"Does anyone know how long you need be be gone from the US to be tax exept there? Any information on this would be great!"


Answer : You're never tax exempt If you are a US citizen.


Charlie, Mar 7, 2013 @ 13:36
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Re: US tax exemption
Post 6

I didn't mean to imply that you weren't filing, just I have met plenty of people who think that way...all the best, Simone

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I didn't mean to imply that you weren't filing, just I have met plenty of people who think that way...all the best, Simone


simone h, Mar 7, 2013 @ 13:42
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Re: US tax exemption
Post 7

Nicolau


Do you hold a US passport ? (ie are you a citizen?)


If yes, then as a US citizen you have an obligation to complete your annual tax filing to the IRS on your global earnings.


The fact they are chasing you Im guessing means you hold a US pp, and they already know about you... 


Sorry to say it but, I'm guessing there is a bill headed your way soon.

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Nicolau


Do you hold a US passport ? (ie are you a citizen?)


If yes, then as a US citizen you have an obligation to complete your annual tax filing to the IRS on your global earnings.


The fact they are chasing you Im guessing means you hold a US pp, and they already know about you... 


Sorry to say it but, I'm guessing there is a bill headed your way soon.


Charlie, Mar 7, 2013 @ 14:37
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Re: US tax exemption
Post 8

Ther is no such thing as a Tax exemption for USA nationals living abroad and Green card holders.


There is a Foreign Tax credit on the 1040NR (U.S. Nonresident Alien Income Tax Return) or use the 2555EZ, Also see forms 1116


Contact for US Tax help


US TAX PREPARATION CONSULTANTS Sàrl, Chemin Sous-Voie 14 C, 1295 Mies


US Tax & Financial Services Sàrl, boulevard Helvétique 36, 1207 Genève ask for Gregory John Dean


 



The text you are quoting:

Ther is no such thing as a Tax exemption for USA nationals living abroad and Green card holders.


There is a Foreign Tax credit on the 1040NR (U.S. Nonresident Alien Income Tax Return) or use the 2555EZ, Also see forms 1116


Contact for US Tax help


US TAX PREPARATION CONSULTANTS Sàrl, Chemin Sous-Voie 14 C, 1295 Mies


US Tax & Financial Services Sàrl, boulevard Helvétique 36, 1207 Genève ask for Gregory John Dean


 




Dave G, Mar 7, 2013 @ 15:07
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Re: US tax exemption
Post 9

Thanks for the help everyone, I know what I need to look into now

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Thanks for the help everyone, I know what I need to look into now


Stephanie L, Mar 7, 2013 @ 16:25
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Re: US tax exemption
Post 10

if your earnings are from overseas and you are physically outside the US for a certain period of time or a bona fide resident of another country (i.e., living there more than one year and paying taxes there) you can exclude from your tax liability the first $95,000 -- as noted above you have to fill out form 2555 - Foreign Earned Income Exclusion -- this decreases your Adjusted Gross Income.  You can also deduct from your liability any taxes you paid to Switzerland.


IRS Publication 54 http://www.irs.gov/pub/irs-pdf/p54.pdf has all the rules and some helpful hypotheticals. 


Also, you should make sure you do not owe state income tax to the state you were residing in before you left the US.


Nicolaou you should also make sure that you have registered for the Selective Service as is required of all US citizen males when they turn 18 http://www.sss.gov/default.htm 


hope this helps

The text you are quoting:

if your earnings are from overseas and you are physically outside the US for a certain period of time or a bona fide resident of another country (i.e., living there more than one year and paying taxes there) you can exclude from your tax liability the first $95,000 -- as noted above you have to fill out form 2555 - Foreign Earned Income Exclusion -- this decreases your Adjusted Gross Income.  You can also deduct from your liability any taxes you paid to Switzerland.


IRS Publication 54 http://www.irs.gov/pub/irs-pdf/p54.pdf has all the rules and some helpful hypotheticals. 


Also, you should make sure you do not owe state income tax to the state you were residing in before you left the US.


Nicolaou you should also make sure that you have registered for the Selective Service as is required of all US citizen males when they turn 18 http://www.sss.gov/default.htm 


hope this helps


mbgoldst, Mar 7, 2013 @ 16:26
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Re: US tax exemption
Post 11

Hi,


I just found this thread. I know it is a bit old, but I moved to GVA a few months ago and I need somebody to file my taxes with the IRS.


I was therefore wondering if you could give me your contact that you mentionned in your posting.


Many thanks and best,


Masha

The text you are quoting:

Hi,


I just found this thread. I know it is a bit old, but I moved to GVA a few months ago and I need somebody to file my taxes with the IRS.


I was therefore wondering if you could give me your contact that you mentionned in your posting.


Many thanks and best,


Masha


Masha G, Feb 23, 2015 @ 10:57
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