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#2
05-13-2005, 05:39 AM
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 Re: Deducting overseas rental costs? R N wrote: - quote - > My wife and I are selling eveything in the US and moving to
Not a deduction - but possibly an exclusion of your foreign> Asia next year. > Can we earn a deduction for the cost of the renting that > Asian home from our US income taxes (I have a pension from a > US comany) as a cost of doing business overseas if we would > start say an importing business with our overseas home also > our Asian hdqtrs? earned income. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
05-04-2005, 12:27 PM
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| Re: Deducting overseas rental costs? "R N" <surfinusa[at]webtv.net> wrote: - quote - > My wife and I are selling eveything in the US and moving to
You really need a knowledgeable professional to sort things> Asia next year. > Can we earn a deduction for the cost of the renting that > Asian home from our US income taxes (I have a pension from a > US comany) as a cost of doing business overseas if we would > start say an importing business with our overseas home also > our Asian hdqtrs? > I know we'd have to (and just might be!) shipping things > back to the US as part of our new business, and that there > might be alot of little details like that. > How official would the business have to be? DBA, LLC? I > could probably arrange to have someone let me us their US > address as our US mailing address for the new company. out for you. You will get the foreign earned income credit on your business income. Your pension will most likely be taxable. I don't believe you get any break on the house because you are the owners of the business. Plus your business income will be taxable in the country in which you ar living. Dick << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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05-04-2005, 12:21 PM
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| Re: Deducting overseas rental costs? "R N" <surfinusa[at]webtv.net> wrote: - quote - > My wife and I are selling eveything in the US and moving to
consider hiring a professional in the tax arena who can> Asia next year. > Can we earn a deduction for the cost of the renting that > Asian home from our US income taxes (I have a pension from a > US comany) as a cost of doing business overseas if we would > start say an importing business with our overseas home also > our Asian hdqtrs? > I know we'd have to (and just might be!) shipping things > back to the US as part of our new business, and that there > might be alot of little details like that. > How official would the business have to be? DBA, LLC? I > could probably arrange to have someone let me us their US > address as our US mailing address for the new company. develop your facts and provide you with the advice you seek, which goes well beyond the scope of your questions and this group, not to mention the legal issues you may be raising (consult an attorney on those), as well as international issues << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
05-03-2005, 09:01 AM
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| Deducting overseas rental costs? My wife and I are selling eveything in the US and moving to Asia next year. Can we earn a deduction for the cost of the renting that Asian home from our US income taxes (I have a pension from a US comany) as a cost of doing business overseas if we would start say an importing business with our overseas home also our Asian hdqtrs? I know we'd have to (and just might be!) shipping things back to the US as part of our new business, and that there might be alot of little details like that. How official would the business have to be? DBA, LLC? I could probably arrange to have someone let me us their US address as our US mailing address for the new company. Thanks Richard << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| costs, deducting, overseas, rental |
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