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  #5  
Old 06-02-2005, 11:19 PM
A.G. Kalman
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Default Re: filing taxes while on extended overseas trip?

Thomas Healy wrote:
- quote -

> "Jean S. Barto" <jsbarto1[at]cox.net> wrote:

> > I'm just curious about how folks who are traveling overseas
> > on an extended basis handle filing their taxes. Do they
> > just forget about it during their trip--and file when they
> > return to the States, or do they do them anyway--and make
> > sure they have an accurate address (in the US or overseas)
> > for filing purposes?
> > > I'm asking because its possible I'll be traveling overseas

> > for a good while in the near future--more than a year, and
> > perhaps over 2 years.. If I decide to do this, I certainly
> > would have to file my 2005 taxes at some point (either
> > before I leave, or while I'm traveling)--and I would have
> > income to report (Schedule C, etc) as well as the sale of my
> > house.
> > > What do all you tax professionals recommend for your clients

> > who travel extensively, and for extended periods?


> If you are out of the country on April 15, you automatically
> have 2 months to file your return timely; you can also get
> an automatic 4-month extension to August 15 and another 2
> months to October 15. With the ability to e-file, you should
> be able to file from almost anywhere. If you are earning
> income (i.e., your Schedule C) while you are out of the US,
> you might qualify for the foreign earned income exclusion if
> you are out of the US for 330 out of 365 days. You get to
> pick the 365 you use for the measurement.


Being "out of the country" on April 15th does not provide an
automatic two month extension unless the reason is that you
live outside of the U.S. or Puerto Rico and your main place
of work is also not in country or you are in the military
posted outside the country. This person said he/she was
traveling out of the country. There is no automatic
extension for someone who is just traveling.

--
Alan
http://taxtopics.net

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #4  
Old 06-02-2005, 11:19 PM
A.G. Kalman
Guest
 
Posts: n/a
Default Re: filing taxes while on extended overseas trip?

Thomas Healy wrote:
- quote -

> "Jean S. Barto" <jsbarto1[at]cox.net> wrote:

> > I'm just curious about how folks who are traveling overseas
> > on an extended basis handle filing their taxes. Do they
> > just forget about it during their trip--and file when they
> > return to the States, or do they do them anyway--and make
> > sure they have an accurate address (in the US or overseas)
> > for filing purposes?
> > > I'm asking because its possible I'll be traveling overseas

> > for a good while in the near future--more than a year, and
> > perhaps over 2 years.. If I decide to do this, I certainly
> > would have to file my 2005 taxes at some point (either
> > before I leave, or while I'm traveling)--and I would have
> > income to report (Schedule C, etc) as well as the sale of my
> > house.
> > > What do all you tax professionals recommend for your clients

> > who travel extensively, and for extended periods?


> If you are out of the country on April 15, you automatically
> have 2 months to file your return timely; you can also get
> an automatic 4-month extension to August 15 and another 2
> months to October 15. With the ability to e-file, you should
> be able to file from almost anywhere. If you are earning
> income (i.e., your Schedule C) while you are out of the US,
> you might qualify for the foreign earned income exclusion if
> you are out of the US for 330 out of 365 days. You get to
> pick the 365 you use for the measurement.


Being "out of the country" on April 15th does not provide an
automatic two month extension unless the reason is that you
live outside of the U.s. or Puerto Rico and your main place
of work is also not in country or you are in the military
posted outside the country. This person said he/she was
traveling out of the country. There is no automatic
extension for someone who is just traveling.

--
Alan
http://taxtopics.net

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #3  
Old 06-01-2005, 10:23 AM
Bryan Kellar
Guest
 
Posts: n/a
Default Re: filing taxes while on extended overseas trip?

"Jean S. Barto" <jsbarto1[at]cox.net> wrote:

- quote -

> I'm just curious about how folks who are traveling overseas
> on an extended basis handle filing their taxes. Do they
> just forget about it during their trip--and file when they
> return to the States, or do they do them anyway--and make
> sure they have an accurate address (in the US or overseas)


Of course they file a tax return. If you are living outside
the country on 15 April, you get an automatic extension to
file by 15 June. Beyond that, regular extensions are
available.

- quote -

> I'm asking because its possible I'll be traveling overseas
> for a good while in the near future--more than a year, and
> perhaps over 2 years.. If I decide to do this, I certainly
> would have to file my 2005 taxes at some point (either
> before I leave, or while I'm traveling)--and I would have
> income to report (Schedule C, etc) as well as the sale of my
> house.


Remember that there are some tax benefits you are entitled
to as a person working overseas, and can be confusing to the
first-time overseas worker. The Earned Income Exclusion
actually requires you to wait until you have been out of the
country for a year before you claim the benefit, which may
require you to extend the tax deadline until you meet the
requirement. The other complication -- the Earned Income
Exclusion can (by the letter of the law) only be claimed on
a timely filed return, including extensions. (Yeah, you can
file it late and USUALLY get away with it, as long as the
IRS hasn't contacted you first, but why take a chance???)

- quote -

> What do all you tax professionals recommend for your clients
> who travel extensively, and for extended periods?


It's a small world communications-wise. I get information
from them before they leave concerning their expectations
and prior-years information. Then, when the time to file
comes, they email me or fax me the necessary information.
If I have questions, I email them back. Sometimes, my
clients even call, or I call them. With efile, I can email
them a PDF of their returns, they can sign them, and return
the one signed page to me (usually fax, or scanned for the
techie ones).

Heck, I've even done that for a few I've never met, and a
few foreign people who have never set foot in the US. Many
of my clients are Americans who have not been here (except
for vacations) for many years. If you choose the do it
yourself method, forms are available online.

Good luck!
Bryan
------------------------ Bryan Kellar, EA
Oregon Tax Help, Inc. -- Portland, Oregon
www.oregontaxhelp.com
www.canadatax.org

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #2  
Old 06-01-2005, 10:23 AM
Thomas Healy
Guest
 
Posts: n/a
Default Re: filing taxes while on extended overseas trip?

"Jean S. Barto" <jsbarto1[at]cox.net> wrote:

- quote -

> I'm just curious about how folks who are traveling overseas
> on an extended basis handle filing their taxes. Do they
> just forget about it during their trip--and file when they
> return to the States, or do they do them anyway--and make
> sure they have an accurate address (in the US or overseas)
> for filing purposes?
> I'm asking because its possible I'll be traveling overseas
> for a good while in the near future--more than a year, and
> perhaps over 2 years.. If I decide to do this, I certainly
> would have to file my 2005 taxes at some point (either
> before I leave, or while I'm traveling)--and I would have
> income to report (Schedule C, etc) as well as the sale of my
> house.
> What do all you tax professionals recommend for your clients
> who travel extensively, and for extended periods?


If you are out of the country on April 15, you automatically
have 2 months to file your return timely; you can also get
an automatic 4-month extension to August 15 and another 2
months to October 15. With the ability to e-file, you should
be able to file from almost anywhere. If you are earning
income (i.e., your Schedule C) while you are out of the US,
you might qualify for the foreign earned income exclusion if
you are out of the US for 330 out of 365 days. You get to
pick the 365 you use for the measurement.

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #1  
Old 06-01-2005, 10:04 AM
A.G. Kalman
Guest
 
Posts: n/a
Default Re: filing taxes while on extended overseas trip?

Jean S. Barto wrote:

- quote -

> I'm just curious about how folks who are traveling overseas
> on an extended basis handle filing their taxes. Do they
> just forget about it during their trip--and file when they
> return to the States, or do they do them anyway--and make
> sure they have an accurate address (in the US or overseas)
> for filing purposes?
> I'm asking because its possible I'll be traveling overseas
> for a good while in the near future--more than a year, and
> perhaps over 2 years.. If I decide to do this, I certainly
> would have to file my 2005 taxes at some point (either
> before I leave, or while I'm traveling)--and I would have
> income to report (Schedule C, etc) as well as the sale of my
> house.
> What do all you tax professionals recommend for your clients
> who travel extensively, and for extended periods?


1. Provide a competent person with your POA and access to
your records in order for that person to prepare and sign
your tax returns.

2. Make sure you are 100% paid up by the April 15th due date
and file when you get back. Be sure to file for a refund
before the 3 year period for refunds elapses. There is no
penalty for a late filed return if you are due a refund.

--
Alan
http://taxtopics.net

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 
Old 06-01-2005, 10:04 AM
MTW
Guest
 
Posts: n/a
Default Re: filing taxes while on extended overseas trip?

Jean S. Barto wrote:

- quote -

> What do all you tax professionals recommend for your clients
> who travel extensively, and for extended periods?


I recommend that clients in this situation maintain some
kind of a "permanent" mailing address in the states, whether
it be in care of a friend or relative, or a
mailbox/forwarding service. Too many things get lost when
sent directly to foreign addresses, especially if the
address changes frequently.

As to filing, you should file on time, of course.

MTW

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 05-31-2005, 06:29 AM
Jean S. Barto
Guest
 
Posts: n/a
Default filing taxes while on extended overseas trip?

Hi folks--

I'm just curious about how folks who are traveling overseas
on an extended basis handle filing their taxes. Do they
just forget about it during their trip--and file when they
return to the States, or do they do them anyway--and make
sure they have an accurate address (in the US or overseas)
for filing purposes?

I'm asking because its possible I'll be traveling overseas
for a good while in the near future--more than a year, and
perhaps over 2 years.. If I decide to do this, I certainly
would have to file my 2005 taxes at some point (either
before I leave, or while I'm traveling)--and I would have
income to report (Schedule C, etc) as well as the sale of my
house.

What do all you tax professionals recommend for your clients
who travel extensively, and for extended periods?

Thanks in advance--

Jean in VA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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