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#5
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| Thomas Healy wrote: - quote - > "Jean S. Barto" <jsbarto1[at]cox.net> wrote:
Being "out of the country" on April 15th does not provide an> > 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. 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 > << -------------------------------------------------> |
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#4
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| Thomas Healy wrote: - quote - > "Jean S. Barto" <jsbarto1[at]cox.net> wrote:
Being "out of the country" on April 15th does not provide an> > 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. 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 > << -------------------------------------------------> |
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#3
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| "Jean S. Barto" <jsbarto1[at]cox.net> wrote: - quote - > I'm just curious about how folks who are traveling overseas
Of course they file a tax return. If you are living outside> 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) 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
Remember that there are some tax benefits you are entitled> 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. 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
It's a small world communications-wise. I get information> who travel extensively, and for extended periods? 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 > << -------------------------------------------------> |
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#2
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| "Jean S. Barto" <jsbarto1[at]cox.net> wrote: - quote - > I'm just curious about how folks who are traveling overseas
If you are out of the country on April 15, you automatically> 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? 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 > << -------------------------------------------------> |
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#1
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| Jean S. Barto wrote: - quote - > I'm just curious about how folks who are traveling overseas
1. Provide a competent person with your POA and access to> 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? 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 > << -------------------------------------------------> |
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| Jean S. Barto wrote: - quote - > What do all you tax professionals recommend for your clients
I recommend that clients in this situation maintain some> who travel extensively, and for extended periods? 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 > << -------------------------------------------------> |
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#-1
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| 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 > << -------------------------------------------------> |
| Tags |
| extended, filing, overseas, taxes, trip |
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