Podcast #128: We chat with Kent C Dodds about why he loves React and discuss what life was like in the dark days before Git. Listen now.
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There are no particular restrictions in the UK on sending money abroad, so if you can get the loan in the first place you can send the money abroad. The main potential issue will be that many (maybe all) unsecured personal loan providers will want some indication of the purpose of the loan, and you will need to be honest with them about this or it would be ...


13

For instance, they are reporting my income to California even though I am not a U.S. resident. But you are. The US doesn't have a notion of physical presence, you're resident by mere citizenship. In case you didn't know that before - US citizens and residents (those who are not citizens, but pass the physical presence/green card test) are taxed on their ...


7

All US states have their own policy on what they consider "residency" and what they consider a taxable resident. So for example, California has income taxes while Nevada does not. Lets IMAGINE that Nevada says you can be a resident after a month, California has completely different requirements in determining whether it expects you to pay tax there, ...


6

Deposit it into your Brazilian bank account. They'll charge you collection fee (shouldn't be high, its a cashier's check equivalent), and the currency exchange rate may not be the best ever, but that's the price to pay for the service. Another option would be to cash the check at check cashing places, but that would most likely require you being in the US (...


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Yes, in most cases you do pay state income tax, unless of course you are able to somehow legitimately claim residency in one of the few states (e.g. Texas) with no state income tax. See: http://www.fvap.gov/info/laws/voting-residency-guidelines It does vary by state, however. For example, Massachusetts residents can claim an exclusion when residing ...


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It makes no difference (to the UK) what country a bank account is in. What matters is whether you are resident in the UK or not while employed locally in a foreign country. You're taxed on where you are tax resident (which could be either country, both, or neither), not where the money is earned or banked. You can assume, with modern exchange of ...


5

Personal loans are typically more expensive (have higher interest) than mortgages, because they are not backed by an immovable asset. So you should reconsider the decision to not want a mortgage; it would be cheaper. Aside from that, once you get a personal loan, you are free to do with it whatever you want; this includes sending it to your parents, buying ...


5

This sounds like a scam to me. The first 6 digits of a Visa card number identify the issuing bank, who they can now call, and armed with the other identifying information you have given them, can try to social engineer into transferring money out of your accounts. You should look in a reputable Canadian phone directory for the main office number for the ...


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I filed all my tax returns when I was abroad so they know how much I made (just not how much I saved). I smell problems here. If you were compliant wrt to your filings, you must have filed FBAR forms and form 8938. Even if you were below the threshold for form 8938, you will probably be above it when you move back to the US - the threshold for people ...


4

To receive unemployment benefits, you must be registered with an employment agency and be actively seeking work, and be willing to accept work should it be offered to you. As a full-time Cornell University student, as you describe yourself, this does not seem a likely scenario. Also, you need to have established a state of residence. It is not clear to me ...


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The IRS taxes worldwide income of its citizens and green card holders. Generally, for those Americans genuinely living/working overseas the IRS takes the somewhat reasonable position of being in "2nd place" tax-wise. That is, you are expected to pay taxes in the country you are living in, and these taxes can reduce the tax you would have owed in the USA. ...


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As an American, I had a great time living and working in Hong Kong for 6 years. You need to go do some serious reading before talking to anyone. One person in HK wanted me to pay them US$2,000 to do my relatively simple taxes. A CPA in the US can usually do your taxes for a lot less than that, even after using the overseas express mail a few times, but ...


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Since the I in IRA is individual. The retirement money from your accounts will end up in one or more IRAs. The retirement money from your spouses retirement accounts will end up in one or more IRAs owned by your spouse. How many IRA each will need depends on if the retirement fund contains pre-tax, post-tax, Roth and company match; and if you want to do any ...


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I would move some or all of the money. With £30K savings, you have a 20% deposit, whereas you can get a much better mortgage rate with a 40 or 50% deposit. That's true no matter how good/bad your credit rating, and it's possible that with a bad credit rating you may not even be able to get a mortgage with a small deposit. Also, you will almost certainly ...


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Since California is the state with the highest state income tax, I assume they have the highest burden for proving you are no longer domiciled there. In fact they themselves point out that they are one of the few states to distinguish between residency and domicile. From CA Publication 1031: Meaning of Domicile The term “domicile” has a special legal ...


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I'll add a bit to Paul's excellent write up. Foreign Earned Income Exclusion (form 2555): notice the earned there. It doesn't exclude capital gains, interest, dividends, and basically everything that is not salary. You pay US taxes on it from the first cent. Foreign tax credit - foreign tax credit (form 1116) doesn't reduce your US tax dollar for dollar (...


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No, there are not. Provided both your 401(k) and 403(b) allow rolling over (in most cases this means you no longer work for the company associated with them), you can roll both into the same IRA. Where you currently work isn't relevant, unless you still work for either the company that sponsored your 401(k) or the company that sponsored your 403(b).


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When you pick a company for your IRA, they should have information about rolling over funds from another IRA or a 401K. They will be able to walk you through the process. There shouldn't be a fee for doing this. They want your money to be invested in their funds. Once your money is in their hands they are able to generate their profits. You will want to ...


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The other answer has mentioned "factual resident", and you have raised the existence of a U.S./Canada tax treaty in your comment, and provided a link to a page about determining residency. I'd like to highlight part of the first link: Residency status You are a factual resident of Canada for tax purposes if you keep significant residential ties in ...


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First question. Normally one has 2 weeks vacation per year. One month every 2 years is then normal. But they give you 2 months vacation, one will be paid, the other no. As if you would be paid 700$ a month on vacation. Second question. So you will have one year with no vacation, the other year with a long vacation. Every 2 years you will have 2 months off, ...


3

If you fulfill the bona fide resident test or the physical presence test, you are considered to have essential minimum coverage under the Act and will not be required get affordable health care insurance or pay the penalty under the PPACA for the month or months that you qualify for either of these tests. The bona fide resident test requires ...


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To HMRC. You pay tax in your tax domicile (i.e. where you more or less permanently reside) – in this case, the UK. Rules are, of course, a little more nuanced than that. For example, if you don't bring the money back into the UK at all (e.g. if you get paid by your Swiss employer into a Swiss bank account), the situation may change. The guidelines for ...


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If they allowed people to skip reporting the funds "even though I might not intend to use this money to help my kids through college", then children of a Billionaire would be eligible for financial aid. In addition you might have reported all your income to the IRS, but the rest of the government isn't able to see that information.


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You should first take into account your living expense in other country by using some online living expense estimator.(for example, https://www.numbeo.com/cost-of-living/estimator_main ) Then do some simple math to calculate the amount based on your home country currency. Apart from that, you may want to put the rest of your salary into your Canadian account....


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Are the schools going to count all my retirement I've saved over the last 20 years as assets and calculate my EFC on 5.x% of that?! Yes.


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To whom do I need to pay my taxes? To each country you'll be working in. In addition, you should check the laws of your country of citizenship, some have rules that define their citizens as tax residents unless they're tax residents elsewhere. If you're moving to a different country every 6 weeks - you may end up with paying taxes to 8-9 different ...


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With a question like this you should talk to a tax professional who knows about international tax and knows about both the UK and the country you will be working in. They will give you up to date advice on what can be an extremely complex question. However to get you started I'll tell you what I was told when I did this nearly twenty years ago. It's all ...


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This is essentially a reimbursement of your expense. Since you can deduct the expense, the fact that the reimbursement is taxable doesn't affect you much. You deduct your home office expenses on your annual tax return using form 8829. See the IRS site for more details. If you're asking about the UK tax, there may be some other considerations, but from the ...


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What form does this US company need to fill out for taxes? Nothing. You may need to provide to the company a form called W8-BEN to certify your foreign status. Can I pay for taxes in Colombia and not pay in the US? (I've been told that all I need is to show that I've paid them in my country) You don't need to show anything to anyone. You only pay ...


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