RetireJapan

Posted: **Mon Mar 12, 2018 12:49 am**

Just done returning my 確定申告! I almost enjoy filling it. In fact I would totally enjoy it if it wasn't cutting a significant chunk of my income every year.

(for context, I need to fill it because I receive company equity from abroad, but am now also trying to reduce my taxable income by every legal mean)

I have to again thank Ben for this blog and forum that helped me reduce the bill a bit. I realized how great iDeco was as I subtracted my contributions from my taxable income, saving 33% of it in the process.

I have also experimented with declaring the US-withheld tax on Theo dividends. Theo provides the exact sum for the year on the 年間取引報告書 document, so i reported it and attached the printed proof. The sum is just a little above 2,000 yen so they probably won't be too mad if I am not supposed to do this and will just kindly let me know.

But I used to do this without issue with my company equity's dividends, so I don't think there will be any problem. I will report the outcome here since I know there are many Theo users on this forum.

As every year, filling the 確定申告 reminded me of the importance of reducing your taxable income (by "paying yourself first"), especially if you are in the 33% or 40% brackets. This year I have managed to do better than before (23,000 monthly via iDeco + rent paid pre-tax by my company) , but there is still a lot of room for improvement. Starting a small activity as sole proprietorship seems like a good way to decrease taxable income some more, as many of the fees that intersect with the activity can then be deducted. That will probably deserve another topic though...

Happy new fiscal year everyone!

Posted: **Mon Mar 12, 2018 5:06 am**

N00bster wrote: ↑Mon Mar 12, 2018 12:49 am Just done returning my 確定申告! I almost enjoy filling it. In fact I would totally enjoy it if it wasn't cutting a significant chunk of my income every year.

(for context, I need to fill it because I receive company equity from abroad, but am now also trying to reduce my taxable income by every legal mean)

I have to again thank Ben for this blog and forum that helped me reduce the bill a bit. I realized how great iDeco was as I subtracted my contributions from my taxable income, saving 33% of it in the process.

I have also experimented with declaring the US-withheld tax on Theo dividends. Theo provides the exact sum for the year on the 年間取引報告書 document, so i reported it and attached the printed proof. The sum is just a little above 2,000 yen so they probably won't be too mad if I am not supposed to do this and will just kindly let me know. But I used to do this without issue with my company equity's dividends, so I don't think there will be any problem. I will report the outcome here since I know there are many Theo users on this forum.

As every year, filling the 確定申告 reminded me of the importance of reducing your taxable income (by "paying yourself first"), especially if you are in the 33% or 40% brackets. This year I have managed to do better than before (23,000 monthly via iDeco + rent paid pre-tax by my company) , but there is still a lot of room for improvement. Starting a small activity as sole proprietorship seems like a good way to decrease taxable income some more, as many of the fees that intersect with the activity can then be deducted. That will probably deserve another topic though...

Happy new fiscal year everyone!

Good to hear

I haven't bothered claiming back THEO taxes yet but might try to next year. Thanks for the heads-up!

Also will be declaring RetireJapan income for the first time. Think it will still be a net negative, so we'll see if I can take that off my regular income taxes.

お楽しみ！

Posted: **Mon Mar 12, 2018 6:33 am**

RetireJapan wrote: ↑Mon Mar 12, 2018 5:06 amAlso will be declaring RetireJapan income for the first time. Think it will still be a net negative, so we'll see if I can take that off my regular income taxes.

I am still quite uninformed when it comes to running a business, but my understanding is that if you are running it as a sole proprietor then your expenses can be deduced from your personal income. For this reason I am seriously considering starting a small side-business that for the dual benefit of generating another stream of income, and reducing my taxable income.

Posted: **Wed Mar 14, 2018 5:17 am**

Just filed and paid my taxes. I used an accountant this year due to some overseas income and expenses that I did not want to leave in my own amateur hands. However it was a very frustrating experience as the accountant took forever to complete my taxes and, when I checked his work, I noticed a major error which could have cost me several thousand extra in taxes had it slipped through.

My key takeaway and life lesson from this is that you shouldn't blindly trust accountants (or any professional) to not make mistakes. Always check their work and ask questions to make sure you understand what they are doing. Hopefully with the knowledge I gained from this experience I will feel confident enough to do my own taxes next year and save the accounting fee.

Posted: **Fri Jun 05, 2020 2:50 pm**

deepdishj wrote: ↑Wed Mar 07, 2018 8:39 am I'm in Kobe. I you need an introduction to my accountant just let me know.

Hi deepdishj, not sure if you're still in Kobe or if introductions are still in order but keen to have a chat. I cannae send you a private message as I'm still new here but please PM a mail address if it's ok to have a chat. Good weekends!

Posted: **Sat Jun 06, 2020 3:02 am**

Sure, that's no problem.
I'm a little busy this afternoon but send me a note and I'll get back to you later this weekend.

Posted: **Sat Jun 06, 2020 11:50 am**

Thanks deepdishj, unfortunately I'm not able to send private messages yet (as this is only my third post) - would you mind sending me one with an email and we can make contact that way?

Posted: **Sat Jun 06, 2020 12:14 pm**

f2mc wrote: ↑Sat Jun 06, 2020 11:50 am Thanks deepdishj, unfortunately I'm not able to send private messages yet (as this is only my third post) - would you mind sending me one with an email and we can make contact that way?

You can use PMs now

Posted: **Sat Jun 06, 2020 12:25 pm**

Thank you, yes it seems so!

Posted: **Fri Oct 02, 2020 11:38 am**

Hello deepdishj, it's only taken me three months but I've sent you a PM!

RetireJapan

Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?

Re: Has anyone else gotten their taxes done?