This question is for all the American expats that live in KSA, whats the easiest way to file taxes and also can anyone recommend a tax agent skilled with filing taxes when living overseas?
thanks!
Filing Taxes (IRS)
rareshine
14 June 2015 11:21:53
904
anaexpat
14 June 2015 11:56:30
64
H&R Block eFile system
stressedmom
14 June 2015 12:06:34
661
Taxact.com did them online & free to efile. The consulate website lists 2 different companies you could contact but they are really expensive.
hamudi
15 June 2015 13:03:38
1981
What's the point of paying taxes while working here? Can you not declare non residency and enjoy the money tax free? Unless u looking at some long term benefits which clearly I don't....i'm not amriki...
stressedmom
15 June 2015 14:20:21
661
hamudi wrote:What's the point of paying taxes while working here? Can you not declare non residency and enjoy the money tax free? Unless u looking at some long term benefits which clearly I don't....i'm not amriki...
If you want to carry the US passport you must file taxes every year. Expats have a different tax rate so rarely do you have to pay taxes unless you also own property still in the US.
Many Saudis are learning this the hard way as they never have done it before and now there are agreements between countries where they must share the bank information for all US citizens so that people can't hide money.....the solution to not paying taxes give up your green card or the all access passport.
hamudi
15 June 2015 19:55:24
1981
stressedmom wrote:If you want to carry the US passport you must file taxes every year. Expats have a different tax rate so rarely do you have to pay taxes unless you also own property still in the US.
Many Saudis are learning this the hard way as they never have done it before and now there are agreements between countries where they must share the bank information for all US citizens so that people can't hide money.....the solution to not paying taxes give up your green card or the all access passport.
I see how it is now. Yea I heard about those agreements.
James
15 June 2015 20:10:31
11272
hamudi wrote:What's the point of paying taxes while working here? Can you not declare non residency and enjoy the money tax free? Unless u looking at some long term benefits which clearly I don't....i'm not amriki...
The United States of America taxes all US citizens, deemed citizens and Legal Permanent Residents regardless of where in the world they reside. They are REQUIRED to file an annual 1040 Income Tax Return each year, unless they formally renounce US citizenship, which is a very costly venture, subject to a huge Exit Tax.
They must report all foreign income too, as part of their "World Income".
That's the point.
Cheers,
James
Expat-blog Experts Team
hamudi
15 June 2015 20:37:23
1981
Amrikis.
Subscribe to this topic
Articles to help you in your expat project in Jeddah
The tax system in Saudi Arabia
One of the most rewarding things about relocating to Saudi Arabia used to be its tax-free society. Find out ...
Value Added Tax in Saudi Arabia
Value Added Tax was first introduced in Saudi Arabia in 2018 at the rate of 5%. As of July 2020, it has been ...
Everything you need to know as an expat woman in Saudi Arabia
Saudi Arabia can be a challenging destination for women. As a strict Islamic country, Saudi Arabia imposes a lot ...
Driving in Saudi Arabia
Driving in Saudi Arabia is the easiest and most convenient way to get around. That being said, foreigners in Saudi ...
Dating in Saudi Arabia
If there was one adjective that could describe dating in Saudi Arabia, it would be the word 'discreet' ...
Getting married in Saudi Arabia
Saudi Arabia is a country that holds marriage and family as one of its core values. It is a privilege to get ...
Open a bank account that suits you
Discover the best international banks to manage your money securely.
"