Search found 9 matches

by bonnie21
Wed Nov 15, 2017 4:27 pm
Forum: Real Estate
Topic: Foreign Rental Income
Replies: 3
Views: 1506

Foreign Rental Income

Does anyone have information or experience on using an LLC, S corp, or C corp for mainly rental property income in America? I assume that rental income from abroad is taxable for permanent residents in Japan even if it isn't remitted to Japan, so I'm trying to find tax efficient ways to keep this in...
by bonnie21
Wed Nov 15, 2017 3:35 pm
Forum: Taxes
Topic: Tax status of American IRA accounts
Replies: 4
Views: 1364

Tax status of American IRA accounts

I'm wondering if anyone has any experience with IRA distributions while living in Japan. I would assume that since profits from NISA accounts held by American citizens and Green Card holders in Japan are taxable by IRS standards, that any sort of income from IRA retirement accounts in America held b...
by bonnie21
Mon Oct 30, 2017 4:33 pm
Forum: Taxes
Topic: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)
Replies: 14
Views: 3796

Re: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)

Thanks for clearing up your previous question, Jamo. for amounts large enough, it's not a stretch to believe they may seek clarification with foreign tax agencies. Right, this is basically the crux of the situation, although I would think they would ask me for more proof before going that far. Every...
by bonnie21
Sun Oct 29, 2017 3:19 pm
Forum: Taxes
Topic: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)
Replies: 14
Views: 3796

Re: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)

My understanding is the same as RetireJapan, BUT if you bring the money to Japan then it is taxable regardless of being PR or not. Just to clarify, when I said "regardless of being PR or not", I meant "regardless of being PR or NPR". I assumed that on a site called "RetireJ...
by bonnie21
Sun Oct 29, 2017 2:23 pm
Forum: Taxes
Topic: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)
Replies: 14
Views: 3796

Re: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)

According to the document even non-residents owe tax on transactions, if remitted to Japan. I'm assuming this means remitted in the same year as the transaction? Sorry, I originally thought your question about selling one year and sending the next was in reference to non-permanent residents . Accor...
by bonnie21
Sun Oct 29, 2017 3:27 am
Forum: Taxes
Topic: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)
Replies: 14
Views: 3796

Re: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)

According to the document even non-residents owe tax on transactions, if remitted to Japan. I'm assuming this means remitted in the same year as the transaction? That's a good question! My initial reaction was "no", but considering that it would require you to amend a previous year's tax ...
by bonnie21
Sun Oct 29, 2017 3:14 am
Forum: Taxes
Topic: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)
Replies: 14
Views: 3796

Re: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)

Of course Japan does not tax cash savings, but I believe they do if you sold stocks etc. to get said cash savings and then sent it to yourself in Japan. The document I referenced says "only the portion deemed remitted to Japan is taxable" for non-permanent residents. If this does not apply...
by bonnie21
Thu Oct 26, 2017 7:50 am
Forum: Taxes
Topic: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)
Replies: 14
Views: 3796

Re: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)

My understanding is the same as RetireJapan, BUT if you bring the money to Japan then it is taxable regardless of being PR or not. If you ever have a sleepless night, the NTA has kindly provided an English version of pretty much all the tax law information you need as well as instructions on filling...
by bonnie21
Tue Oct 24, 2017 1:11 pm
Forum: Taxes
Topic: Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)
Replies: 14
Views: 3796

Inquiry letter regarding foreign remittance (海外送金に関するお尋ね)

Hi everyone, I recently received an inquiry letter regarding foreign remittance(海外送金に関するお尋ね)from my local tax office and I’m wondering if anyone else has experience filling it out. A few years ago I sent the money to myself to help buy a house here in Japan. The money came from stock sales back home...