Taxes While Working Abroad

[uclatommy]

If I'm a U.S. citizen and work abroad in Singapore, who do I pay income taxes to? The singapore government, the US government, or both? What about retirement fund contributions? Are there investment vehicles similar to a 401k that allow you to defer income tax?

[tommie frazier]

no idea on singapore's taxes. but any us citizen earning money anywhere in the world pays us taxes on it. there are sizable deductions and also for housing cost, but you have to pay.

[Corn Row]

You pay Singapore taxes and you pay adjusted US taxes. The adjustments take into account the taxes you paid to Singapore and certain cost of living expenses like housing. The first 95k is essentially tax free from a US point of view, but they take their pound of flesh for higher income levels.

[asdfasdf]

Originally Posted by uclatommy

If I'm a U.S. citizen and work abroad in Singapore, who do I pay income taxes to? The singapore government, the US government, or both? What about retirement fund contributions? Are there investment vehicles similar to a 401k that allow you to defer income tax?

In situations like that it's usually worth finding an expat tax specialist to get all the details.

[Gabriel]

From personal experience, there are an incredible array of wonderful experiences that come with living abroad. For a US citizen, figuring out the tax situation is not one of them.

http://www.irs.gov/businesses/small/...nal/index.html

Good luck!

[uclatommy]

Thanks for the info