Originally Posted by theplayer541
I am a US citizen and Im thinking about spending 1+ years living in thailand. I know I still have to pay taxes to the US government but would I be eligible for the 80K foreign earned income credit? Is that just for money you earned from a foreign job or would my online play while out of the country be eligible? I am not self employed I run an S-corp for my poker earnings does that matter? would I have to start an S-corp equivelant in thailand? Does it matter what type of visa you get to get the tax credit? What if I went to 2 countries say 6 months in thailand 6 months in phillipines would that be any different than 1 full year in either one?
talk to your accountant, it's doubtful any of us knows the subtleties, i'm not trying to be a dick here, but this isn't a forum i'd be asking for tax advice. that being said, here's what i know: i've got an accountant i've known for years outside of business, who recently told me he could file me so i'm eligible for the credit, and i'll be having him do my taxes from now on. (we were friends before poker, and now he does a lot of our old friend's poker taxes so he's knowledgable) tax accountants in general seem to know about as much about it as the guy at the carnival really knows about your age. they're all just guessing, it seems.