Quote: (01-05-2013 01:20 PM)Laser Wrote:
Quote: (01-01-2013 12:17 PM)Sonsowey Wrote:
Many of these wealthy middle eastern countries don't tax the salaries of an English teacher at all, so that is $60,000 directly to you.
Just a heads up. This is true if you are only making $60k, but if you are a US citizen, you have to pay taxes on all worldwide income after the first $90k or so. Sucks. However, you do get to net out foreign income tax you've already paid.
I believe it's up to $92,500 if you spend 330 days or more physically outside of the US. The IRS is becoming harder on that though. I know a guy who they initially denied the foreign income exclusion because since he had a house in the US he was "had physical ties." His accountant was able to fight it and get him the exemption but with the US going down the crapper the IRS is throwing all kinds of shit to the wall and seeing what sticks.
If you're working as an independent contractor (IC) and receiving a 1099 (IRS form) there are ways around it such as forming an S corporation or LLC.
"Okay (and I'm laughing now, because this is so funny), so we're A) not supposed to give you flowers, B) pay you compliments, or C) look at you. Anything else? Because I'm struggling to figure out the reason why after hearing that, I'm feeling like I'd rather get fucked in the ass by a Cape Buffalo than ever have to sit through dinner with you. Maybe you can figure it out for me. When you do, let me know. I'll be at Natasha's house."