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Messages - gocurrycracker

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Early Retirement / Re: US Investment accounts while overseas
« on: February 18, 2018, 12:48:29 AM »
Presumably this is Vanguard?

For some reason they have a policy of not working with non US residents.
People avoid this by working with any other brokerage company, and/or not informing Vanguard that they are overseas.

General Discussion / Re: Betterment affiliate link?
« on: February 16, 2018, 10:03:58 PM »
We aren't their target customer. I outlined at the end of that post who might be a good fit for their service.

Maybe after reading my thoughts a few people would conclude that they prefer to outsource their portfolio. From the comments you can see a few of these.

Taxes / Re: FreeTax USA
« on: February 16, 2018, 09:59:34 PM »
I've not used it.

I have tried a few options, but usually come back to TurboTax since it imports everything directly from my Fidelity account which saves me a couple hours.

Expat life / Re: Living abroad and estate plannin
« on: February 16, 2018, 09:58:39 PM »
GCC: Do you have 2 wills then: for the USA and another for Taiwan? Can I ask you how you have organized your estate or are you one of the 'non-planning estate' people because you find it unnecessary?

I find it unnecessary

Taxes / Re: General tax resource for those covered by the FEIE
« on: February 05, 2018, 08:32:57 PM »
I'm going to review this in April +/-. I haven't found a great resource and have instead pieced it together bit by bit.

Even thought the foreign earned income is excluded from taxes, you pay tax on all US income as if the FEIE didn't exist. You can work through how much to convert or harvest by doing your tax analysis without the FEIE.

No, not necessary

There are no income limits for a Roth conversion. This is what makes the "backdoor Roth" possible

Digital Nomad Life / Re: Do you have a home base?
« on: February 04, 2018, 11:31:57 PM »
* Reno, Nevada

States w/ no income tax:
Alaska (actually pay you to live there)
South Dakota

Digital Nomad Life / Re: Do you have a home base?
« on: January 30, 2018, 08:48:59 AM »
We are about 5 1/2 years into semi-nomadic living. We've never had a home base.

If we like a place, we stay. If we feel restless, we move on. Nothing is permanent, even a decision to have a home base. You can try with and without and see which feels right.

Digital Nomad Life / Re: Digital Nomad Life
« on: January 30, 2018, 08:46:29 AM »
I don't think there is a right/wrong way to do it, there is more a spectrum of possibilities.

Some people need a 2% withdrawal rate to feel "safe" - others would be OK with 4% or even higher.

It's the same with entrepreneurship. Not everybody is a great fit for a Fortune 500 career, and following that path could also be a disaster (emotionally and financially.)

Taxes / Re: Managing the blog as a business
« on: January 28, 2018, 10:19:26 PM »
It isn't necessary to do anything. Simply by seeking profit through a blog you have a business.

Unless you formally create a business structure (typically an LLC or S-corp) you are self-employed / sole proprietorship.

A business of any structure is inherently tax efficient, as you are only taxed on profit which is equal to income minus expenses. They can all have a 401k.

It is generally not necessary or advantageous to create an LLC unless you need liability protection (e.g. you operate heavy equipment in public areas) or to create an S-corp unless you have high income (much greater than ~$50k/year.) I'm not a corporate attorney, so consult with your own CPA/lawyer.

GCC has always been a sole proprietorship. I may change that in the future to become an overseas corp.

Travel hacking / Re: Travel Hacking From Abroad
« on: January 24, 2018, 07:10:04 PM »
I think all companies now require a physical address, but the mailing address can be TM

Travel hacking / Re: Travel Hacking From Abroad
« on: January 23, 2018, 06:49:18 AM »
Traveling Mailbox scans incoming cards (front only) which gives you number and expiration date. If I need the 3 digit code on the back I'll forward them to my brother. This works for anything online, including taxes.

You can add cards to Apple Pay for general use, and forward them to your current location if you need the actual card.

Travel hacking / Re: Hacking approach to Chase 5/24
« on: January 19, 2018, 01:16:18 AM »
8 cards / year / person ?

Taxes / Re: Steadily Increasing Tax Efficiency
« on: January 19, 2018, 01:14:53 AM »
Very nice, Slow traveler! Thank you, I'm glad the never pay taxes again series was helpful

California is messy. They are uber aggressive in collecting taxes, even from non-residents. Thus it is very important to be ruthless in severing ties with California.

Their definition of residency is skewed in their favor:
A California resident is any individual who meets any of the following:
  • Present in California for other than a temporary or transitory purpose.
  • Domiciled in California, but located outside California for a temporary or transitory purpose.
    • Domicile is defined for tax purposes as the place where you voluntarily establish yourself and family, not merely for a special or limited purpose, but with a present intention of making it your true, fixed, permanent home and principal establishment. It is the place where, whenever you are absent, you intend to return.
    For a complete definition, refer to "Meaning of Domicile" in Publication 1031 - Guidelines for Determining Resident Status.

Note use of the words like permanent & transitory.

The burden of proof that you have departed with the intention of never returning is on you. CA probably won't buy that you were a resident of SD in July if you didn't leave until September. The Oct - Dec period may depend in part on where you were... presumably in SD, but still working for the CA company? Read through the Publication 1031 and make sure you meet the criteria. Pay special attention to the phrase California Sourced Income... even the lawyers debate this (some horror stories in this link..)

Questions they may ask:
Did you have a formal residence in SD, get an SD driver's license, close all CA bank accounts and open new ones in SD, attend church or community activities in SD, registered to vote, found a new Dr/dentist/lawyer, intend to return their as your permanent home, etc...?

If you have definitely cut ties with California, then future income should not be subject to CA tax. The 3 months could also potentially be CA tax free. Assuming you burned that bridge.[/list]

Travel hacking / Re: Hacking approach to Chase 5/24
« on: January 16, 2018, 06:19:15 PM »
The Hyatt card doesn't fall under 5/24, afair. There are a few others (IHG card, one or two more...)

We do the husband / wife team approach also. It's a reasonable way to almost double earnings, although we spend em 2x as fast too.

You can also look into pre-approvals or in branch approvals, both of which bypass 5/24.

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