bows00 Posted January 30, 2018 Posted January 30, 2018 Whew, just did my 2017 taxes and it was painful!! I made a stupid move in 2017 selling my investments - resulted in over $5K out of pocket. Should have consulted with a tax accountant. Yeah, God Bless America man... I need a drink. 1 Link to comment Share on other sites More sharing options...
OnMyWay Posted January 30, 2018 Posted January 30, 2018 2 minutes ago, bows00 said: Whew, just did my 2017 taxes and it was painful!! I made a stupid move in 2017 selling my investments - resulted in over $5K out of pocket. Should have consulted with a tax accountant. Yeah, God Bless America man... I need a drink. I assume you made money on the investments! I no longer have taxable investments and some of them were a pain at tax time. 1 Link to comment Share on other sites More sharing options...
Forum Support scott h Posted January 30, 2018 Forum Support Posted January 30, 2018 16 minutes ago, bows00 said: Should have consulted with a tax accountan when you do make the move make sure that you list the Philippines as your home of record, I did and save a pile not paying California state tax 2 Link to comment Share on other sites More sharing options...
bows00 Posted January 30, 2018 Author Posted January 30, 2018 53 minutes ago, OnMyWay said: I assume you made money on the investments! yeah, but I didn't take out the estimated tax and rolled the investment into a more conservative fund for retirement. Could have been way more tax savy. Oh well, live and learn. 1 Link to comment Share on other sites More sharing options...
JJReyes Posted January 30, 2018 Posted January 30, 2018 13 hours ago, scott h said: 13 hours ago, bows00 said: Should have consulted with a tax accountan when you do make the move make sure that you list the Philippines as your home of record, I did and save a pile not paying California state tax Uncle Sam taxes worldwide income for its citizens, legal permanent residents, and any person irregardless of nationality, who was in the United States for 180 days or longer during the tax year. States are a different matter. Hawaii and California are high tax states. It is best to avoid being residents of both. Property ownership in either states should also be avoided. California, for example, may declare you are a de facto resident and tax you accordingly. If you are an American and have legally moved your residency to the Philippines, you should consult a tax expert. There are tax treaties between both countries. One purpose is to prevent double taxation. 2 Link to comment Share on other sites More sharing options...
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