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Re: Tax deduction - Resident Alien working from foreign loca

nirvana wrote:Thanks for the clarification. Guess I assumed incorrectly based on what i saw in the IRS publication.

Would I be able to deduct Medical expenses that were incurred for my spouse in 2014 if I go the form 2555 route?

For medical expenses: http://www.irs.gov/pub/irs-pdf/p502.pdf
by plats
Sat Dec 20, 2014 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax deduction - Resident Alien working from foreign location
Replies: 6
Views: 660

Re: Tax deduction - Resident Alien working from foreign loca

You should be able to get a refund of all of your federal tax payments and some help with housing with Form 2555. http://www.irs.gov/uac/Form-2555,-Foreign-Earned-Income State taxes will be difficult unless you have cut all ties with your state. Plats, Thank you for your response, I probably wasnt ...
by plats
Fri Dec 19, 2014 3:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax deduction - Resident Alien working from foreign location
Replies: 6
Views: 660

Re: Tax deduction - Resident Alien working from foreign loca

You should be able to get a refund of all of your federal tax payments and some help with housing with Form 2555.

http://www.irs.gov/uac/Form-2555,-Foreign-Earned-Income

State taxes will be difficult unless you have cut all ties with your state.
by plats
Thu Dec 18, 2014 3:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax deduction - Resident Alien working from foreign location
Replies: 6
Views: 660

Re: Vanguard Recommending Quicken Changes

I don't have this issue, but although I previously reported that the change went smoothly for me in fact one fund exchange and one distribution were not recorded by Quicken. I had to enter them manually. Quicken did correctly report that my share balance didn't match those in Vanguard.
by plats
Sun Sep 28, 2014 6:12 am
 
Forum: Personal Consumer Issues
Topic: Vanguard Recommending Quicken Changes
Replies: 62
Views: 6489

Re: Is FEIE pro-rated in year of retirement

You may be able to squeeze out some more write-offs using the foreign housing exclusion or deduction.
by plats
Mon Sep 15, 2014 5:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Is FEIE pro-rated in year of retirement
Replies: 7
Views: 391

Re: Is FEIE pro-rated in year of retirement

You can run your figures through last year's TaxACT. The results will be almost the same as this year.
by plats
Mon Sep 15, 2014 4:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Is FEIE pro-rated in year of retirement
Replies: 7
Views: 391

Re: Is FEIE pro-rated in year of retirement

If you work a partial year in the US and partial year overseas, I know the Foreign Earned Income Exclusion (FEIE) is pro-rated that year. What if you work a partial year overseas and retire overseas? To put some numbers to this, suppose one earns $120K overseas in the first seven months of the year...
by plats
Sun Sep 14, 2014 11:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is FEIE pro-rated in year of retirement
Replies: 7
Views: 391

Re: Vanguard Recommending Quicken Changes

I keep getting the same error message when trying to set up the account: Quicken is unable to establish an internet connection [OL-297-A] But, i can update all my other accounts just fine. I can't get past the stage of adding my login/password because of the error above. Anyone else have this and a...
by plats
Sat Sep 13, 2014 6:57 am
 
Forum: Personal Consumer Issues
Topic: Vanguard Recommending Quicken Changes
Replies: 62
Views: 6489

Re: Vanguard Recommending Quicken Changes

My update went smoothly. There was no Vanguard listed but I was able to enter Vanguard myself when reactivating an account. When it connected it found all three accounts and updated them with no problems. So far, that is.
by plats
Fri Sep 12, 2014 7:23 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard Recommending Quicken Changes
Replies: 62
Views: 6489

Re: Retiree Income Investment Question

Since they are already bond-heavy maybe they'd like one of Vanguard's high-yielding stock funds, such as Vanguard Equity Income Fund Admiral Shares (VEIRX). It yields over 2.5% and may be a selling at a discount this afternoon.
by plats
Thu Jul 31, 2014 2:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retiree Income Investment Question
Replies: 17
Views: 1518

Re: Am I "Locked In" For Payements With This Bond Fund?

When interest rates rise, the NAV of the bond funds will fall, but those funds will eventually start buying those bonds with higher rates as they turnover their positions, so those same shares will eventually have a higher yield. They will not eventually have a higher yield, they will immediately h...
by plats
Sun Jul 20, 2014 6:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Am I "Locked In" For Payments With This Bond Fund?
Replies: 11
Views: 1116

Re: Visiting Japan

Hi, I am Japanese, living in US. I just came back from a short trip around Kyoto/Nara. It totally depends on what you like to see. But if what you want to see is old Japanese culture or building, and you have only one day, I would strongly recommend a short trip to Nara. You can take a local train ...
by plats
Sun Jul 20, 2014 2:54 pm
 
Forum: Personal Consumer Issues
Topic: Visiting Japan
Replies: 16
Views: 1425

Re: Japan's Lost Decades in One Chart

whaleknives wrote:Why does the U.S. data stop 10 years before Japan's?

My take: Japan's peak was ten years before the USA's. The ends of the lines are both current to about a year or so ago.
by plats
Sat Jul 19, 2014 4:31 pm
 
Forum: Investing - Theory, News & General
Topic: Japan's Lost Decades in One Chart
Replies: 23
Views: 3017

Re: Do I Understand My Dividends and thier Taxes?

Good explanation from Fidelity: "You must have held those shares of stock unhedged for at least 61 days out of the 121-day period that began 60 days before the ex-dividend date." https://www.fidelity.com/taxes/tax-topics/qualified-dividends Also remember that if the dividend is large it co...
by plats
Fri Jul 18, 2014 2:16 pm
 
Forum: Investing - Theory, News & General
Topic: Do I Understand My Dividends and thier Taxes?
Replies: 3
Views: 741

Re: Overseas Residents And the Affordable Health Care Act

Arby, you mention Medicare but not Social Security. Are you vested in SS? Bank interest reported in a 1040 doesn't require documentation. Karamatsu, I read the revocation of FEIE differently. If he has never used it he will have no trouble filing without it and using it in the future. That is, he do...
by plats
Tue Jul 15, 2014 7:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Overseas Residents And the Affordable Health Care Act
Replies: 10
Views: 1111

Re: Overseas Residents And the Affordable Health Care Act

I Googled and found this: http://blogs.angloinfo.com/us-tax/2013/ ... obamacare/

BTW, don't you use FEIE (Foreign Earned Income Exclusion)?
by plats
Tue Jul 15, 2014 4:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Overseas Residents And the Affordable Health Care Act
Replies: 10
Views: 1111

Re: US citizens abroad cannot invest through [Fidelity]

bpp wrote:
plats wrote:On another topic, I got a follow-up email from Fidelity today after getting a letter last week.


What did they say?

Dear Suspicious Overseas Investor,

You can keep your mutual funds and reinvest distributions but you can't add to them or exchange between them.

Have a nice day.
by plats
Tue Jul 08, 2014 5:56 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 9090

Re: US citizens abroad cannot invest through [Fidelity]

Houston101 wrote:Just as a matter of curiosity, how do you maintain a U.S. address (not P.O. Box) and monitor it from abroad?

Do you have only important mail forwarded to you?

If that was to me: I don't have a USA address. Fidelity has been mailing to my foreign address for 25 years.
by plats
Tue Jul 08, 2014 2:52 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 9090

Re: US citizens abroad cannot invest through [Fidelity]

But the FBAR is pretty easy as long as you don't exceed $50,000 which requires a much more complicated filing. For those living overseas the additional Form 8938 is has higher requirements. "If you are not married, you satisfy the reporting threshold only if the total value of your specified f...
by plats
Tue Jul 08, 2014 2:18 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 9090

Re: burning 1 lb is how many calories?

The OP is confusing losing weight and losing fat. Losing weight can mean losing anything, including muscle mass. Dieters will often lose a lot of muscle without streneous exercise.
by plats
Sat Jun 28, 2014 10:34 pm
 
Forum: Personal Consumer Issues
Topic: burning 1 lb is how many calories?
Replies: 69
Views: 6263

Re: How to save for retirement while living abroad?

I will be living abroad and I was told it is Illegal to donate tax-free money to a Roth-IRA. However, what if I had my parents contribute to my Roth-IRA while I was living abroad? Thanks, Kurt You (or anyone on your behalf) can't fund an IRA if all of your income is excluded with FEIE (Foreign Earn...
by plats
Thu Jun 26, 2014 2:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to save for retirement while living abroad?
Replies: 7
Views: 745

Re: NISA in the short term (Japan)

If I were you (which I am) I would send all my money back to my home country. If you want to bet on a rising yen you could buy a yen currency ETF, JPN stock ETF or JPN bond with a UK brokerage.
by plats
Sun Jun 15, 2014 11:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: NISA in the short term (Japan)
Replies: 9
Views: 630

Re: Is this true?

Buy Exxon (XOM) and McDonald's (MCD).
by plats
Sun May 11, 2014 11:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is this true?
Replies: 11
Views: 1708

Re: mailed US tax check 4/13 - not cashed yet

So my check was cashed end of april, but i receive a notice from the IRS today stating that I owe the money How do i straighten this out? What sort of delay in crediting? the letter is quite firm that i owe money Does the letter have a phone number on it? I would call it. It once took 8 months for ...
by plats
Sat May 03, 2014 7:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: mailed US tax check 4/13 - not cashed yet
Replies: 43
Views: 7423

Re: Quicken 2014 opinions wanted

I upgraded from 2011 to 2014 and I lost the ability to download transactions from a major bank. My other credit unions work fine. Multiple people are reporting this same issue on the quicken forums. The bank points the finger at Quicken, Quicken support has basically said sorry we are not going to ...
by plats
Fri Apr 18, 2014 8:53 pm
 
Forum: Personal Consumer Issues
Topic: Quicken 2014 opinions wanted
Replies: 47
Views: 2573

Re: Vanguard Total International (VTSAX) - Taxable Account

VTSAX is not Total International. It's Total Stock Market.
by plats
Thu Apr 17, 2014 3:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Total International (VTSAX) - Taxable Account
Replies: 24
Views: 2870

Re: Japan Does not Show That Stocks are Dangerous

Japan’s stock bubble mirrored the land bubble, as land was used as collateral to buy stocks and vice-versa. What was left out of this discussion is that the Bank of Japan orchestrated the bursting of the bubble with interest rate hikes and excise taxes on land sales. It was a time when everyone was ...
by plats
Tue Apr 15, 2014 11:02 pm
 
Forum: Investing - Theory, News & General
Topic: Japan Does not Show That Stocks are Dangerous
Replies: 79
Views: 5311

Re: Why does Vanguard use average return iso compound annual

In case some people don't get the OP's point, here's an analogy. It's a bit like the SEC saying that a "poodle" is a small feline mammal that purrs and meows. Right on! The SEC is on the ball: Scientists at Vienna's University of Veterinary Medicine confirmed the "poodle cat" is...
by plats
Mon Apr 14, 2014 8:25 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 6737

Re: How to save for retirement while living abroad?

Thanks, yes I'm making under the $97,000 limit (paid in Euros, but EUR-USD conversion is under $97,000). Actually I'm married with a child and file jointly on my single income. So it's the case that I can contribute the maximum to my US-based Roth IRA while not making any US income or paying any US...
by plats
Mon Apr 14, 2014 3:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to save for retirement while living abroad?
Replies: 7
Views: 745

Re: Importing VG Brokerage 1099-Consolidated into Turbotax

Did TT create a Form 8949? My import from VG brokerage produced one for each security sold. From Form 8949: Note. You may aggregate all long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the total directly...
by plats
Sat Mar 22, 2014 7:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Importing VG Brokerage 1099-Consolidated into Turbotax
Replies: 2
Views: 652

Re: [American living abroad - Foreign Earned Inc. Excl. Limi

in_reality wrote:[Your foreign income is included when calculating your tax rate.

Thanks to The Tax Increase Prevention and Reconciliation Act of 2005.
by plats
Thu Feb 27, 2014 12:44 am
 
Forum: Investing - Help with Personal Investments
Topic: [American living abroad - Foreign Earned Inc. Excl. Limit]
Replies: 17
Views: 929

Re: [American living abroad - Foreign Earned Inc. Excl. Limi

(3) If I claim full FEIE in which my income is under the FEIE limit, do I fall into the lowest US income bracket for dividend and capital gains tax purposes? For 2013, this means (a) 0% tax on long-term capital gains/qualified dividends, and (b) 10% tax on ordinary dividends/short-term capital gain...
by plats
Thu Feb 27, 2014 12:28 am
 
Forum: Investing - Help with Personal Investments
Topic: [American living abroad - Foreign Earned Inc. Excl. Limit]
Replies: 17
Views: 929

Re: [American living abroad - Foreign Earned Inc. Excl. Limi

I'm wondering if VWEHX is optimal for my situation as well; I'm currently working abroad and my salary falls under the Foreign Earned Income Exclusion limit which I am claiming, so I currently have no taxable income in the US except for the occasional dividend distribution from my vanguard 3 fund p...
by plats
Thu Feb 27, 2014 12:11 am
 
Forum: Investing - Help with Personal Investments
Topic: [American living abroad - Foreign Earned Inc. Excl. Limit]
Replies: 17
Views: 929

Re: Cruel math [x% loss requires x+% gain to get even]

This thread reminds me of my ill-fated foray into emerging markets decades ago. My Fidelity EM fund was down over 70% and an expert on TV was saying emerging market funds would have to go up 300% to get back to even. I thought “Fat chance” and sold it. Then it went up 300%.
by plats
Wed Feb 26, 2014 3:59 pm
 
Forum: Investing - Theory, News & General
Topic: Cruel math [x% loss requires x+% gain to get even]
Replies: 35
Views: 3587

Re: Has anyone seen the Japanese Stock Market?

In hindsight (and even back then) this was unsustainable. We lost 50% in many areas during the real estate bubble. I have no idea what the decline was in Japan and how that exasperated the stock market slump. The slump in real estate follows the slump in the stock market closely, and it certainly e...
by plats
Sun Feb 23, 2014 3:24 pm
 
Forum: Investing - Theory, News & General
Topic: Has anyone seen the Japanese Stock Market?
Replies: 73
Views: 7097

Re: Has anyone seen the Japanese Stock Market?

Keep in mind the Nikkei's slump was allieviated somewhat for US investors by the tripling of the yen during this time. Hi. Was the Yen Dollar really 270 in 1990? X-Rates.com only goes back to 2004 unfortunately. No, but it was 270 in the early 1980s. Low 100s in the early 1990s http://research.stlo...
by plats
Sun Feb 23, 2014 2:50 pm
 
Forum: Investing - Theory, News & General
Topic: Has anyone seen the Japanese Stock Market?
Replies: 73
Views: 7097

Re: Has anyone seen the Japanese Stock Market?

Keep in mind the Nikkei's slump was allieviated somewhat for US investors by the tripling of the yen during this time.
by plats
Sat Feb 22, 2014 11:21 pm
 
Forum: Investing - Theory, News & General
Topic: Has anyone seen the Japanese Stock Market?
Replies: 73
Views: 7097

Re: What to Invest in when market is low?

If you’re sure you could buy a short or ultra short ETF. SDS doubles the inverse return of the S&P. Its name also brings back old memories of my youth.
by plats
Wed Feb 19, 2014 9:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to Invest in when market is low?
Replies: 24
Views: 1300

Re: International Account => securities & taxes

Form 8938 and FinCEN Form 114 are for reporting foreign accounts, but you still have to declare income from them on your tax return.
by plats
Mon Feb 10, 2014 5:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: International Account => securities & taxes
Replies: 11
Views: 681

Re: Moving Money from Cash Into the Market Now

If you put the $200K all in now, the market will surely go down. If you wait, it will go up. I believe this is a feature of quantum investing. I would put half in now and the other half in some predetermined date, like in a year.

Respected BH veterans may have a better plan.
by plats
Mon Feb 10, 2014 3:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Moving Money from Cash Into the Market Now
Replies: 12
Views: 1485

Re: Vanguard Taxable Account Question

I've been able to speed up the conversion process by clicking the "Convert to Admiral Shares" that appears when the value goes over $10,000. Could save you a few bucks by converting before they do automatically.
by plats
Sun Feb 09, 2014 7:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Taxable Account Question
Replies: 3
Views: 478

Re: International Account => securities & taxes

Income from stock sales goes in the Investment Income section regardless of the location of the brokerage.
by plats
Sun Feb 09, 2014 5:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: International Account => securities & taxes
Replies: 11
Views: 681

Re: does capital gains effect tax bracket?

I agree tax software is useful but, I think understanding how taxes work is more important.
by plats
Wed Jan 29, 2014 11:32 pm
 
Forum: Investing - Theory, News & General
Topic: does capital gains effect tax bracket?
Replies: 20
Views: 5178

Re: My annualized returns are better than yours. Why?

robertalpert wrote:
plats wrote:
robertalpert wrote:
sscritic wrote:I think some people left their sarcasm detectors at home this morning. The OP is clearly pulling our leg.


My leg does feel a little out of joint this morning.

I have only one leg now.


Sorry for your loss.

On the bright side, I now have more hair than legs.
by plats
Wed Jan 29, 2014 6:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: My annualized returns are WORSE than yours. Why?
Replies: 87
Views: 6929

Re: Long-term capital gains tax rate

$500 of that is taxed at 0% and $500 is taxed at 15%.
by plats
Wed Jan 29, 2014 7:05 am
 
Forum: Investing - Theory, News & General
Topic: Long-term capital gains tax rate
Replies: 7
Views: 1490

Re: My annualized returns are better than yours. Why?

robertalpert wrote:
sscritic wrote:I think some people left their sarcasm detectors at home this morning. The OP is clearly pulling our leg.



My leg does feel a little out of joint this morning.

I have only one leg now.
by plats
Tue Jan 28, 2014 2:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: My annualized returns are WORSE than yours. Why?
Replies: 87
Views: 6929

Re: My annualized returns are better than yours. Why?

sscritic wrote:I think some people left their sarcasm detectors at home this morning. The OP is clearly pulling our leg.

Bump. In case some missed it.
by plats
Tue Jan 28, 2014 5:53 am
 
Forum: Investing - Help with Personal Investments
Topic: My annualized returns are WORSE than yours. Why?
Replies: 87
Views: 6929

Re: Total International (VTIAX) and non-qualified dividends

sscritic wrote: Now name all the countries not included. :)

Give us a hint. Can Google find them?
by plats
Sat Jan 18, 2014 11:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Total International (VTIAX) and non-qualified dividends
Replies: 10
Views: 958

Re: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST

Up 20%--2,217. Firm.
by plats
Wed Jan 08, 2014 4:16 pm
 
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST
Replies: 537
Views: 15377

Re: Question on Realized Capital Gain

You sell 1/6 of your shares for $20,000 which have a cost basis of $100,000/6, or $16,666. So a capital gain of $3,333.
by plats
Sun Jan 05, 2014 5:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Question on Realized Capital Gain
Replies: 6
Views: 457
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