Random bitching thread

[mooyagi]

Well it looks like I should expect to be taxed twice on whatever money I make in Canada. Thats going to really suck come tax season next year.

How are you going to be taxed twice?

[AlaskaRachel]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

[WizardBeast]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

ok that makes sense. pain sure but it sounds like you'll figure it out!

[Michael D.]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

Paying TAXES and DEATH are the only two certainties in life.

[AlaskaRachel]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

Paying TAXES and DEATH are the only two certainties in life.

I'm just going to move to Antarctica and live with penguins. No money, no taxes, lots of delicious penguin meat. I imagine it tastes like chicken.

[WizardBeast]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

Paying TAXES and DEATH are the only two certainties in life.

I'm just going to move to Antarctica and live with penguins. No money, no taxes, lots of delicious penguin meat. I imagine it tastes like chicken.

hahaha! pengy meat! don't tell Rob!

[mooyagi]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

That is obnoxious. You'd probably be best hiring a tax person that specializes in helping out ex-pats when the time comes. I recall reading something about the US being one of the few countries that requires its citizens to report all foreign income as part of a US return. Makes no sense to me.

[Stained Class]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

That is obnoxious. You'd probably be best hiring a tax person that specializes in helping out ex-pats when the time comes. I recall reading something about the US being one of the few countries that requires its citizens to report all foreign income as part of a US return. Makes no sense to me.

Or get my mommy to do it for free

[mooyagi]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

That is obnoxious. You'd probably be best hiring a tax person that specializes in helping out ex-pats when the time comes. I recall reading something about the US being one of the few countries that requires its citizens to report all foreign income as part of a US return. Makes no sense to me.

Or get my mommy to do it for free

I'll let her collect my taxes, audit my books, file my return, etc.

[AlaskaRachel]

From what I understand, any money I make in Canada I pay Canadian taxes on, but I also have to report that money to the IRS and "pay" US taxes on it as well. Any Canadian taxes I pay, I can credit against my US tax obligation (foreign tax credit). So at first glance, I read "US citizens working abroad pay US income taxes on foreign income, as well as any foreign income taxes" and freaked out. But it sounds like I will always zero out because anything I pay to the Canadian government reduces my obligation to the US government.
So while I originally thought I would just report my US income to the US and my Canadian income to Canada (because that makes perfect sense to me), I will have to report certain amounts of both incomes to both sources, pay taxes in one country and tell the other to fuck off via credits.
Pain in the ass anyway.

That is obnoxious. You'd probably be best hiring a tax person that specializes in helping out ex-pats when the time comes. I recall reading something about the US being one of the few countries that requires its citizens to report all foreign income as part of a US return. Makes no sense to me.

Or get my mommy to do it for free

Haha yea maybe. I have no idea how to do Canadian taxes
I'll be able to stumble through my US tax returns even with all this junk on my own

[mooyagi]

What gets me is the hypothetical situation where you work, earn money and pay taxes in a country with a lower tax rate than the US. Does the US consider your foreign income when calculating your overall tax burden before the credit? In turn, you would end up owing money to the US Government in the end because you weren't taxed enough on your foreign income. On the flip side, would they give you a better return if your country "overtaxed" you. That sounds like something that wouldn't be legal to do. I can see it if you were holding your income in a US bank/credit union/market but if it's something you worked for outside of the country and are holding outside of the country, what legal claim would they have to consider it when discussing your US tax burden? I'm a decidedly pro-tax guy (even though the system confuses the shit out of me), but even that would go over the line, if it is indeed what happens.

[AlaskaRachel]

What gets me is the hypothetical situation where you work, earn money and pay taxes in a country with a lower tax rate than the US. Does the US consider your foreign income when calculating your overall tax burden before the credit? In turn, you would end up owing money to the US Government in the end because you weren't taxed enough on your foreign income. On the flip side, would they give you a better return if your country "overtaxed" you. That sounds like something that wouldn't be legal to do. I can see it if you were holding your income in a US bank/credit union/market but if it's something you worked for outside of the country and are holding outside of the country, what legal claim would they have to consider it when discussing your US tax burden? I'm a decidedly pro-tax guy (even though the system confuses the shit out of me), but even that would go over the line, if it is indeed what happens.

Yea I think you end up owing the US in that first situation.
And on the flip side, the US isn't going to give me a tax return for more than I paid them in taxes that year (i.e. if I owe $2500 in US taxes and $3000 in Canadian taxes, I can only credit away $2500, I won't get the extra $500 I paid to Canada back from the US government). At least that's what I'm understanding (anyone who knows this stuff inside-out please correct me if I'm wrong).
At the core, I don't see the purpose of the US monitoring the money I make outside of the country when I am living outside of the country and depositing my money in a foreign bank and using it to buy foreign goods. It just seems like an invisible leash on me

[KDibildeaux]

Well it looks like I should expect to be taxed twice on whatever money I make in Canada. Thats going to really suck come tax season next year.

How are you going to be taxed twice?

See? I told you this happens. That's what they'd told my coworker

[KDibildeaux]

What gets me is the hypothetical situation where you work, earn money and pay taxes in a country with a lower tax rate than the US. Does the US consider your foreign income when calculating your overall tax burden before the credit? In turn, you would end up owing money to the US Government in the end because you weren't taxed enough on your foreign income.

One would hope they'd take into amount how much you make because many places pay way less than here

[mooyagi]

What gets me is the hypothetical situation where you work, earn money and pay taxes in a country with a lower tax rate than the US. Does the US consider your foreign income when calculating your overall tax burden before the credit? In turn, you would end up owing money to the US Government in the end because you weren't taxed enough on your foreign income. On the flip side, would they give you a better return if your country "overtaxed" you. That sounds like something that wouldn't be legal to do. I can see it if you were holding your income in a US bank/credit union/market but if it's something you worked for outside of the country and are holding outside of the country, what legal claim would they have to consider it when discussing your US tax burden? I'm a decidedly pro-tax guy (even though the system confuses the shit out of me), but even that would go over the line, if it is indeed what happens.

Yea I think you end up owing the US in that first situation.
And on the flip side, the US isn't going to give me a tax return for more than I paid them in taxes that year (i.e. if I owe $2500 in US taxes and $3000 in Canadian taxes, I can only credit away $2500, I won't get the extra $500 I paid to Canada back from the US government). At least that's what I'm understanding (anyone who knows this stuff inside-out please correct me if I'm wrong).
At the core, I don't see the purpose of the US monitoring the money I make outside of the country when I am living outside of the country and depositing my money in a foreign bank and using it to buy foreign goods. It just seems like an invisible leash on me

That makes no fucking sense whatsoever. How can the United States lay any claim to deciding the tax rate on that income? Something doesn't seem right. We need a tax lawyer to clear the air

[Michael D.]

What gets me is the hypothetical situation where you work, earn money and pay taxes in a country with a lower tax rate than the US. Does the US consider your foreign income when calculating your overall tax burden before the credit? In turn, you would end up owing money to the US Government in the end because you weren't taxed enough on your foreign income. On the flip side, would they give you a better return if your country "overtaxed" you. That sounds like something that wouldn't be legal to do. I can see it if you were holding your income in a US bank/credit union/market but if it's something you worked for outside of the country and are holding outside of the country, what legal claim would they have to consider it when discussing your US tax burden? I'm a decidedly pro-tax guy (even though the system confuses the shit out of me), but even that would go over the line, if it is indeed what happens.

Yea I think you end up owing the US in that first situation.
And on the flip side, the US isn't going to give me a tax return for more than I paid them in taxes that year (i.e. if I owe $2500 in US taxes and $3000 in Canadian taxes, I can only credit away $2500, I won't get the extra $500 I paid to Canada back from the US government). At least that's what I'm understanding (anyone who knows this stuff inside-out please correct me if I'm wrong).
At the core, I don't see the purpose of the US monitoring the money I make outside of the country when I am living outside of the country and depositing my money in a foreign bank and using it to buy foreign goods. It just seems like an invisible leash on me

That makes no fucking sense whatsoever. How can the United States lay any claim to deciding the tax rate on that income? Something doesn't seem right. We need a tax lawyer to clear the air

Ok, not to get off on too much of a tangent but the taxable income earned by a US citizen on foreign soil is similar to what we here in Minnesota and Wisconsin have fought over for years. You can work in MN and earn all of your money in MN but you could file your income taxes under Wis. if you are a resident of Wis. A lot of people live in Wis. But work in MN and did not pay MN taxes (proximity of Mpls. and St. Paul to Hudson, River Falls, and Prescott, among other cities along the St Croix River, Mississippi River, and Lake Superior). Wis. has a lower tax rate. Wis. and MN now changed that law and you have to file your taxes under the state that you earn your wages. No credit. I don’t know why the feds would give you a credit unless it has to do with your citizenship. I know US military personnel as well as contractors working on behalf of the federal government on foreign soil get an exemption to taxes until it is withdrawn from your account and once you are back state-side. Sorry for more adding more confusion. Kind of sounds like a similar thing to the military payment of personnel. Sorry. Our tax laws are TOO confusing even for the ones that write the laws.

[Michael D.]

Damn it. All out of Bacardi AGAIN! Make note to myself for grocery shopping tomorrow. Get a bigger bottle of Bacardi. LOL
plus lemonade, OJ, bread, etc.

[KDibildeaux]

Damn it. All out of Bacardi AGAIN! Make note to myself for grocery shopping tomorrow. Get a bigger bottle of Bacardi. LOL
plus lemonade, OJ, bread, etc.

Don't forget milk

[mooyagi]

So for a while one could live in a low tax state and work in a higher tax state and pay lower taxes? That's odd. I always held that you pay for the taxes for the state/country within which you work. Military bases, even abroad are considered US soil so I can see special rules applying to those, but I would also not be surprised if they taxed the service men/women based upon which state is their "home." Most contractors working abroad for a company usually have a home base in the US (or the base of the operations) and they would be taxed at that rate, I think.

Shit, I wish NH and MA had a similar arrangement to the WI/MN one when I was living in NH and working in MA. NH has no income tax.

[Jaimie38]

Damn it. All out of Bacardi AGAIN! Make note to myself for grocery shopping tomorrow. Get a bigger bottle of Bacardi. LOL
plus lemonade, OJ, bread, etc.

Where I live, I have 16 beer-liquor stores within a 10 block radius.


Nice night for a wobble..

[Michael D.]

Damn it. All out of Bacardi AGAIN! Make note to myself for grocery shopping tomorrow. Get a bigger bottle of Bacardi. LOL
plus lemonade, OJ, bread, etc.

Where I live, I have 16 beer-liquor stores within a 10 block radius.


Nice night for a wobble..

I once wobbled in CABO! LOL (Cabo San Lucas, Mexico)
http://youtu.be/-2dpbD6ma60
http://youtu.be/pO5CKGtZTn4
Oh, and that really sounds like a real Canadian neighbor-”hood” LOL

[AlaskaRachel]

http://www.irs.gov/taxtopics/tc856.html
Anika didn't know what I was talking about either, so here's the link if anyone is curious about tax law
Maybe it's a new thing? I don't know. All I know is that if I go to Canada and work there at a regular ho-hum job (no dividends or profit sharing or anything fancy like that), I qualify for this credit.

On to another topic, there's a girl who's about my age (we have friends in common although I've never met her) and she was kidnapped about 2 months ago. The latest news is they may have found her body it's HUGE news here since there are missing person posters and fliers of her on practically EVERY single window/billboard/door in town, and over $60,000 in reward money raised by the community.

[mooyagi]

http://www.irs.gov/taxtopics/tc856.html
Anika didn't know what I was talking about either, so here's the link if anyone is curious about tax law
Maybe it's a new thing? I don't know. All I know is that if I go to Canada and work there at a regular ho-hum job (no dividends or profit sharing or anything fancy like that), I qualify for this credit.

On to another topic, there's a girl who's about my age (we have friends in common although I've never met her) and she was kidnapped about 2 months ago. The latest news is they may have found her body it's HUGE news here since there are missing person posters and fliers of her on practically EVERY single window/billboard/door in town, and over $60,000 in reward money raised by the community.

Guess we'll find out your tax situation next year

That's so scary to hear about that girl! Do they have any leads on who had taken her?

[KDibildeaux]

On to another topic, there's a girl who's about my age (we have friends in common although I've never met her) and she was kidnapped about 2 months ago. The latest news is they may have found her body it's HUGE news here since there are missing person posters and fliers of her on practically EVERY single window/billboard/door in town, and over $60,000 in reward money raised by the community.

Oh wow! That's so scary! Hopefully it's not her

[AlaskaRachel]

Not really, there was a guy in Texas arrested for fraud because he was using her credit card after she went missing, but there's no other connection between him and the family or the girl. He was in Alaska during the time she went missing, but he claims he stole the card from another man, and he could very well be telling the truth. There were no leads and no real suspects.
Its really scary. She was abducted from work. It could have happened to anyone.

[mooyagi]

Not really, there was a guy in Texas arrested for fraud because he was using her credit card after she went missing, but there's no other connection between him and the family or the girl. He was in Alaska during the time she went missing, but he claims he stole the card from another man, and he could very well be telling the truth. There were no leads and no real suspects.
Its really scary. She was abducted from work. It could have happened to anyone.

Yikes. Stories like that are really tough to read.

[KDibildeaux]

Not really, there was a guy in Texas arrested for fraud because he was using her credit card after she went missing, but there's no other connection between him and the family or the girl. He was in Alaska during the time she went missing, but he claims he stole the card from another man, and he could very well be telling the truth. There were no leads and no real suspects.
Its really scary. She was abducted from work. It could have happened to anyone.

Holy shit! This world is so messed up sometimes......

[DrinkMoxie]

here's the way it works...

citizens... tax 'em any way we can, like crazy... keep 'em broke if possible

businesses... create ways a company earning $4billion can somehow get tax money FROM the government.

[KDibildeaux]

here's the way it works...

citizens... tax 'em any way we can, like crazy... keep 'em broke if possible

businesses... create ways a company earning $4billion can somehow get tax money FROM the government.

It is a pretty messed up system

[mooyagi]

here's the way it works...

citizens... tax 'em any way we can, like crazy... keep 'em broke if possible

businesses... create ways a company earning $4billion can somehow get tax money FROM the government.

Yup

Keep 'em broke then complain when they need to rely on welfare to eat. Why can't the poor people pull themselves up by their bootstraps and be successful (read: rich) like the rest of us?

[mooyagi]

Kate's getting an oil change and someone in the waiting room is watching Fox News. Took less than one minute to hear someone complaining about liberals. It's amazing how much it follows the stereotypes of conservative outrage media.

[KDibildeaux]

Kate's getting an oil change and someone in the waiting room is watching Fox News. Took less than one minute to hear someone complaining about liberals. It's amazing how much it follows the stereotypes of conservative outrage media.

I love conservatives,damn those crazy liberals!

[mooyagi]

Kate's getting an oil change and someone in the waiting room is watching Fox News. Took less than one minute to hear someone complaining about liberals. It's amazing how much it follows the stereotypes of conservative outrage media.

I love conservatives,damn those crazy liberals!

A Mexican conservative would just be asking for trouble

[KDibildeaux]

Kate's getting an oil change and someone in the waiting room is watching Fox News. Took less than one minute to hear someone complaining about liberals. It's amazing how much it follows the stereotypes of conservative outrage media.

I love conservatives,damn those crazy liberals!

A Mexican conservative would just be asking for trouble

I'd just have to do a lot of CUTTING!

[MadameLePink]

Just found out Agalloch is playing in Copenhagen tonight and I didn't know Shame on me!

[Jaimie38]

Nuff Said! LOL

[Stained Class]

You live in Edmonton. QYB!

[WizardBeast]

Just found out Agalloch is playing in Copenhagen tonight and I didn't know Shame on me!

can you go or is it too late?

[KDibildeaux]

Made it to Monument Valley but the weather fucking sucks! Wind seems like it's over 30mph so there are dust storms everywhere. Can't even see the awesome rock formations 'cause of the dust . Hope it clears up by tomorrow

[mooyagi]

Made it to Monument Valley but the weather fucking sucks! Wind seems like it's over 30mph so there are dust storms everywhere. Can't even see the awesome rock formations 'cause of the dust . Hope it clears up by tomorrow

The wind advisory said the gusts are going up to 50. Felt like it! I love tasting dirt in my mouth The weather during the day was decent enough, but this is harsh. Glad we didn't have any plans tonight. Hopefully we can see stuff tomorrow morning! And hopefully this hotel's internet speeds up