Welcome Guest. Register Now!  


Itemized Deductions Schedule-A


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 09-22-2012, 08:49 PM
Junior Member
 
Join Date: Sep 2012
Posts: 1
International travel

I travel abroad for work. About 30 percent a year working as a consultant abroad. Do i have to pay US taxes on those 100 days while out of the US. I am salaried and reside in the US.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 09-23-2012, 06:56 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
“I travel abroad for work. About 30 percent a year working as a consultant abroad. Do i have to pay US taxes on those 100 days while out of the US. I am salaried and reside in the US.”------->I assume that you are a US person,i.e, a US citizen/a green card holder or a US resident for tax purposes, then yes you must pay tax on your income that you earn as a consultant; you are subject to US taxes, fed/state tax, on your world wide and US source income. Once you paid income tax(es) to the foreign taxing authorities on your taxable earned income that you earned abroad, then you can claim your foreign tax(es) on your US returns, fed/state returns. You can choose to take the amount of any qualified foreign income taxes paid or accrued during the year as a foreign tax credit or as an itemized deduction. To choose the deduction, you must itemize deductions on Form 1040, Sch A line 8. To choose the foreign tax credit you generally must complete Form 1116 and attach it to your Form 1040 on line 47. You can contact a tax attorney/a Tax practitioner in your local area for your late fed/state returns. As a consultant, if you are filing as a sole proprietor and/or a self-employed individual, you generally have to make quarterly estimated tax payments if you expect to owe tax of $1,000 or more when you file your return. As long as the amoun ton Sch C of 1040 line 29/31 is $400 or exceeds $400 you need to file your US returns and as long as the amount on Sch SE line 4 is also $400 or exceeds $400, you must pay self employment tax to the IRS.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Amateur Athlete Travel scottuf Itemized Deductions 1 05-15-2012 02:28 AM
International Marriage This Year, Spouse Not in US Till Next Year krenees Income 3 09-21-2011 05:50 PM
International marriage, untaxed income, income in two states mwolfe Filing Requirements 1 03-26-2011 03:16 AM
Question about Travel expense and income tax coolpet C-Corporation 0 07-31-2010 05:58 PM
travel expenses in 1099 mccarty Miscellaneous 1 02-04-2009 11:15 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.