Taxes Tax help!

[DavidPost]

Hi,

I'm hoping someone could give me a hand here.

Just landed a new job. Company is based in FL, USA but I'm working remotely from Argentina. It's a base salary job, plus commissions.

What is the general percentage taken out for salary based on commission? I need to fill out W-2, etc...any other forms necessary because I live in Argentina or does that not factor in because they are US-based?

Thanks!

 

[earlyretirement]

Read this. It will tell you everything you need to know.

http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Earned-Income-Exclusion

 

[earlyretirement]

This is also REQUIRED READING if you're American and living abroad.

http://www.irs.gov/publications/p54/index.html

 

[Mart]

Within the US, commissions are generally taxed at 50%.

Assuming you meet the physical residency or Argentina is your tax home, you are exempt from the first 96K (maso) USD of earned income. If you are not a resident of Argentina, you can still meet the physical test if you are in Argentina (or any other foreign country) for at 330 days a year.

You can either have the normal taxes withheld and at the end of the year, file to get your federal/state withholding tax refunded or you can claim Exempt on your federal income tax.

If you are in Argentina for more than 180 days, you are considered a resident for tax purposes and should pay taxes here. This is in theory. If you are here on a tourist visa, there is no actual way for you to comply with this law and pay taxes at this time.

 

[DavidPost]

A little more info: the company is based in the US, so I wouldn't need to pay taxes here, essentially.

They are filling out a 1099 form for me. What is the process here? Can I write off my "office" in my apartment? Other expenses?

citygirl, I am not making 96k, can I claim Exempt from taxes? (I don't understand how that's legal...??)

 

[earlyretirement]

A little more info: the company is based in the US, so I wouldn't need to pay taxes here, essentially.

They are filling out a 1099 form for me. What is the process here? Can I write off my "office" in my apartment? Other expenses?

citygirl, I am not making 96k, can I claim Exempt from taxes? (I don't understand how that's legal...??)

If you're not going to hire an accountant, the least you can do is read the links I posted in detail. It's all explained there what you can and can't do. If you're not able or willing to take the time to read it, you should hire an accountant.

 

[DavidPost]

I didn't know I couldn't ask a quick question and have a quick answer instead of reading through IRS bs for 5 hours...? If someone has the knowledge and experience with something like this, I would think they would share (not more than 5 minutes) of their time and help someone out.

Too much to ask...?

 

[earlyretirement]

I didn't know I couldn't ask a quick question and have a quick answer instead of reading through IRS bs for 5 hours...? If someone has the knowledge and experience with something like this, I would think they would share (not more than 5 minutes) of their time and help someone out.

Too much to ask...?

JMHO, but with matters as serious as taxes and IRS, I'd take the time to read it and get to know the law.

People on these message boards are often times wrong and lots of misinformation out there.

It's been my experience that people are usually too lazy to do any due diligence at all or research yet don't want to pay a professional for advice.

What if someone posted something like "yeah you can take whatever deduction you want". Wouldn't you rather do the research and know what is and isn't allowed? It won't take 5 hours.

Good luck.

 

[earlyretirement]

A little more info: the company is based in the US, so I wouldn't need to pay taxes here, essentially.

They are filling out a 1099 form for me. What is the process here? Can I write off my "office" in my apartment? Other expenses?

citygirl, I am not making 96k, can I claim Exempt from taxes? (I don't understand how that's legal...??)

See here is a good example. Mart took the time to post some information yet you come back with a response like "can I claim exempt from taxes? I don't understand how that's legal".

So all I'm saying is how about you take the time to read the law and find out why what Citygirl is saying is legal and what is and isn't allowed. That's all I'm saying.