Taxes (living overseas)

[Ryan]

If I move overseas, will I still need to pay state taxes? Is there a minimum amount of time or can I stop immediately? If so, what kind of paperwork would I need? Assume my federal taxes will remain the same.

 

[ravege]

Some folks where I work travel overseas, and while I don't know all the specifics, here are some of the tidbits I've overheard. The first 90-92k are (federal) tax free if you spend 330(?) days out of a year overseas. I don't think it has to be the same fiscal year, i.e., leave in July, come back next July. This is defense contractor stuff, not sure if it applies to all sectors. Sorry I don't have more details, working overseas can be very lucrative depending on your industry.

 

[Red C5]

Your employer should have all of the info for you. I think you will be completely tax free. You could always call a cpa to make sure it's all done correctly. Money well spent

 

[captflash]

I have spent quite a bit of my adult living and working outside the United States and there are great tax advantages, IF and I repeat IF you have a knowledgeable accountant. Nothing illegal but the account must be throughly aquainted with foreign earned income deductions. PM me if you need the contact info for my accountant.

 

[ryan319]

what's your situation? will you be an expat or working overseas for a non-US company?

 

[Ryan]

Thanks Guys. I am a US contractor working in Afghanistan. I knew about the tax free status if I spend 330 days in theater. Since I just did 20 years of deploying for the military, my wife would kill me if I did a year out here. She is originally fro Turkey and we can get a place pretty cheap. My plan is to do a 3 months on 3 months off rotation. If I lived in Turkey, I could spend more time in theater. I live in Hawaii and the taxes and cost of living is killing me. Just floating an idea around. Don't plan on living overseas forever, just till the contract dries up or my wife cant handle the deployments.