US Expat Tax Specialist in Cambodia

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Dis1Panda
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United States of America

US Expat Tax Specialist in Cambodia

Post by Dis1Panda » Sat Jun 22, 2019 4:13 am

Hello.
I have a questions regarding expat working or owning a business in Cambodia.
How does the tax work? can any one point me to the right direction? or Any specialist at Cambodia?
I'm from Los Angeles and will be working for a relative at Cambodia.
The salary will be monthly salary.
How do i file a tax return back at the US for next year?
And what documents would i need to bring back to file a tax return? Since they don't have W-2 form, can the bank statement or paycheck be use to file?
Thanks for the help.
Khmer_Risotto
Expatriate
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Cambodia

Re: US Expat Tax Specialist in Cambodia

Post by Khmer_Risotto » Sat Jun 22, 2019 11:25 am

I am not a tax professional so take this with a grain of salt...

You might qualify for the Foreign Earned Income Exclusion which means you would be able to exclude some or all of your income here in Cambodia from US federal income tax. It really depends on if you intend to make Cambodia your home/residence, but if you still have a home or "abode", as the IRS says, back in the US and intend to go back then you probably won't qualify.

https://www.irs.gov/individuals/interna ... -exclusion

If you don't qualify for the FEIE then you can use the Foreign Tax Credit to reduce taxes owned to the US. You have to pick one or the other, usually the FEIE is the best option if you qualify.

https://www.irs.gov/individuals/interna ... tax-credit

Just keep detailed records of when you enter/exit Cambodia, when you started work, your pay stubs, etc. You can give all this info to your tax guy/gal next time you file, or you can even use something like Turbotax which can handle this stuff as well.

Either way you still have to file a return every year.
TWY
Expatriate
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Macedonia

Re: US Expat Tax Specialist in Cambodia

Post by TWY » Sat Jun 22, 2019 12:39 pm

1st year most folks use foreign tax credit due to the stringent requirements around residency.

2nd year most folks then claim the exclusion (and housing if qualify).

Form 2555. Take a look and call the IRS with any questions. Keep your foreign paperwork, as this is one of the few areas the IRS has increased on over the past 5 years.
icetiger81
Tourist
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Joined: Mon Jan 15, 2018 3:11 pm
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United States of America

Re: US Expat Tax Specialist in Cambodia

Post by icetiger81 » Thu Aug 15, 2019 10:42 am

any one with feet on the ground out there who can recommend a good US tax specialist or firm?
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