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gaqqgtvtax20d
so are you forgoing the FEIE then?
tevqqns20d
sydtpuvqrha no, but not 100% of my income is excluded by feie. most is but i want to shove every dollar that isn't into a tax advantaged account 🙂
kbtuatmqhb20d
that makes sense. basically if the limit deducitoin for FEIE is 100k, and you make $120k, then put the 20k into a tax advantaged acccount, and claim FEIE on the 100k. right?
mpcwqgepj20d
That's the idea
qnzwxgklf20d
You can use funds _not_ excluded under the FEIE (1. Above the limit of $105,900 or 2. partial year/earned in the US) to contribute
xmcraaqdlm20d
that’s a very important clarification. thanks so much!
mkupchzekc20d
this finally makes sense to me now… so for example in one of the previous year i was back home for 3-4 months, which means that my FEIE limit ended up being lower. i should’ve taken that oppoturnity to contribute to an IRA but didn’t because i didn’t know that it’s allowed.
kcjppnwxg20d
A good accountant should point that out to you
lhgbiezqjjjci20d
if you were in the US for 3-4 months are you sure that you qualified for the FEIE? or were you out for 330 before and 330 after?
xrkvrgwfcitip20d
or do you get it via residency?
tfhnrippma20d
it’s one of those dealio where i wasn’t home for a long time, and then came back toward the end of the year and stayed a few months into the next year
hnhhgvgqb20d
Sammich homestay... I've had some clients do that
cykchpnplw20d
so, i still qualifed for FEIE , and just had to make sure that when i restart, that i stay out for the correct amount of time (aka, don’t come back too early)
mnnuxdmigzzza20d
gotcha. so you bookended it with 330 days out
aeajuowpjf20d
yes
wvhtxzuelv20d
njkyxfdsycbqz20d
just wanted to make sure you weren't going to get a nasty surprise one day. 🙂
rkvcpgoadv20d
i’m super paranoid about that… i always make sure that i’m on the conservative side of counting days
fymedtwsia20d
i even leave a 5-10 schengen-day buffer
uzhsxdohkl20d
just in case i have to enter while in transit.
rqgajdyqk20d
I tell my clients to plan for 30 days in the US... I've seen a few FEIEs get busted by a delayed flight or family emergency
thwdqsnipc20d
or if i need to enter the schengen zone due to some emergency or business related travels
vqamzeewpa20d
30 days? that seems like a lot isn’t it?
syoiujjezl20d
i’d just cross over land if i were in a situation like that
ufudjhiximkzq20d
it gives you 5-6 days buffer. enough to cover some filght issue
knzigkjoeihbx20d
i always plan for no more than 30.
fbgrgafkgu20d
what gives a 5-6 day buffer?
dnsspielu20d
Haha, yeah... one was a flight from Dallas to CDMX... i told her she should have rented a car and driven across the border
fzqktkzhnavte20d
only planning to spend 30 days in instead of 35 or 36...
pcitcsvxpomnn20d
seriously
bsvknsrygw20d
oh yeah. exactly. i always treat my trips home as 30, not 35 and not 36.
oyyphpjwhtgpq20d
i have a friend who is based in asia so they always do the long haul from canada so their feie starts/ends there and then the short hop in/out of the US is same day.
yjjrmlc20d
sbwakaigbux income earned while in the US also doesn't get excluded, that's probably more relevant to most people here than earnings above the ~$106k cut off
ubsspqhcbyab20d
ymqptaaw unless it's a corporation and you personally earn only when you're outside of US
moksknh20d
yeah, advice above is not for people running established business entities and paying themselves as an employee etc
sqfyazinszll20d
I'm just wondering, if establising an LLC is worse in any way than solo 1099?
ltsexemls20d
An LLC has nothing to do with taxes. It’s specifically a business designation
qnpwturss20d
Both are taxed as sole props unless an S-Corp is elected
vzuzzfptu20d
You can contribute to your Roth for 2019 until April
bkqpdgo20d
Hmm interesting. I’m set up as an LLC. Friend of mine said that SCorp has tax benefits over LLC. Any of this sound right?
orcqixqpa20d
The S-Corp has some benefits, but the FEIE complicates that

The main benefit of an S-Corporation is being able to reduce the 15.3% sales tax by splitting the income of the business between salary and dividend.

That said, dividends are not considered earned income, and therefore cannot be claimed as FEIE income.
ngfsctvvz20d
Always best to get specific advice for your situation
gksmicm20d
Yea, I feel bad asking a bunch of questions in here all the time. Anyone you’d recommend speaking too?
xcnmkhf20d
I’ve seen Marks name mentioned here all the time, but don’t know who it is
bzunmwqqjicsmj20d
Only if you already have an existing Roth set up. The deadline for a establishing a Roth is the end of the prior calendar year.
cnhdlvq20d
hm though my tax guy did tell me last year that i could "set up a solo 401k and contribute to the roth".. maybe there's a different rule for roth vs trad contributions? i'll ask said tax guy to clarify but i'm assuming lvksujjqsiiynvm is right
zilvnklrqyjjsq20d
Oh I may be wrong. I missed my contributions one year because of the end of calendar year deadline.
uwdcvhk20d
i haven't found anything on google saying differently, but i'm going to wait until it matters (i have the account actually approved/set up and have tax docs) before bugging my guy about it haha
hkzzleguw20d
Mark the Tax Quark
qldckunaa20d
He’s unobservable without a cat and a radioactive capsule
bcjbkxqeu20d
There’s also such a thing as a solo Roth 401k
dmmbgza20d
yeah that's what i was referring to
nevwscj20d
i just initiated creating one, but the understanding is that unlike other accounts (ira, sep-ira) you have to have created it in the year you're contributing to it for
trstuvmbx20d
(Diesen)
wicfqrbrd20d
Dissen
tjpqtoubjjbwh19d
.
ulpbpbkvrn19d
same here, 30
rlowtjxgg19d
Mark is great. I also run a tax biz, happy to chat
yfoftovegfoh19d
So what's the point of this, if you are still doing FEIE? is it about the amount above the allowance?
uehwwa19d
IANACPA, but from what I take from this:
when all income is excluded under FEIE, Traditional 401(k) probably doesn’t make sense. Roth 401(k) is not disallowed, but certainly could be in the future
ajlflnchs6d
Hi. I didn’t know where to ask this question so I thought this group would be the one with the most Americans. flag-us :eagle:

Do any of you use a Virtual Mailbox? A service that receives your mail, scans your mail, and forwards important documents to an address (i.e. relative’s home)?

Out of all the ones I evaluated US Global Mail seemed like the best features vs price point. Any thoughts or suggestions?
(link omitted due to nomad list slack restrictions 😅 )
makhwkceogv6d
I use my mom's address but I also have the free USPS mail scanning thing set up, where I get a daily email with scans of all the mail being sent to that address... it's still only the outside of the envelope but then if it looks important I can ask her to open it for me. Obvs that only works if you have a friend or family member willing to receive your mail though; I'm lucky on that front
wyxzawofytpzj6d
i think a few people use them. i use my mom because aside from tax and investing stuff i really don't get mail. biggest thing with a mail service is don't use one in california.
pidxfsw6d
I’ve used Traveling Mailbox for the past six months and it’s worked out fine for me. No issues, nothing exceptional, just gets the job done.
xzkccystnvylr6d
i'm curious, do they shred your mail you don't want? i've been thinking of switching from my mom's house because i get a lot of prospectus crap in the mail. it would be nice for her to not have to deal with that.
bpobxwwryvqujn6d
Yes, they do, U03K95VPN. I just switched to TravelingMailbox for the bulk of my mail and it’s nice. I still have the occasional super important thing mailed to my mom, but mostly it goes to my mailbox. Bonus, for a few bucks, they’ll stamp “for deposit only” on checks and forward them to my bank. It’s annoying to have to deal with checks but they happen sometimes.
jvqqxjl6d
My hack for checks… I have them scan them and then I take a picture of the scan on my laptop (and use Preview to “sign” the back)… has worked well for me so far, although almost certainly not what the banks want you to be doing.
qkfoiiszagmjma6d
We’re on TravelingMailbox too. Very reliable service. They will consolidate items and ship internationally if you need.
ntizqitnxjh6d
omg you just solved my life, ty

(or at least the part of my life where I get a random check every few months and don't know how to deal with it... but still)
yfbmeph6d
Haha yay!
ffpdvbt6d
This works for me as well (with Capital One)
fsrckt6d
I was on earthclassmail, but recently switched to Virtual Post Mail and it’s far better!
ibelowgpn6d
Thank you all for the helpful suggestions :slightly_smiling_face:
I’ll weigh the tradeoffs of the usps preview + parents address mule vs. mail service and make a decision.
pzczvlwzynl6d
I've been no using traveling mailbox for the past 6 months and it's been fine. Couple days around the holidays where they were slow, but they put an alert in their website and caught up over a weekend. They can also do faxes for those insane occasions where you need them, and they can send outbound checks and letters.
splhsujuqzi6d
One thing to note though is that the "premium addresses" aren't actual scanning facilities. They just aggregate and forward to their main NC facility. Adds a few days before you see mail, but not that big of a deal. Also, packages must be shipped to their main address and not the premium ones.
knvchib6d
oh interesting, definitely seemed like there was a delay on my mail but never really thought about it
mefequs6d
i'm not sure what i would recommend if your mail is time sensitive, but i'm happy with traveling mailbox (been on it for almost 4 years)
tutgfgs6d
have a "premium" address, because i want my mailing address to at least be in the city where my business is registered to avoid raising any questions
rotpvyl6d
the thing i've heard is if you accidentally get a package to one of those it's a bit of a hefty fee
aasagfy6d
+1 on this for Fidelity, Schwab.
zyaxnlyky5d
I also use traveling mailbox. I use the real address in NC. They’re really good. My other mailbox actually forwards a ups mailer containing all my other mail to travelling mailbox and then it gets opened and the mail inside the mail gets scanned. They seem to be able to handle anything
hgaqkkpj4d
I’ve done this before with chase
xeexddmkaoc3d
I use a mailbox service that I found when living in Seattle and they are awesome -totally worth it. They cash checks I get to my bank account, and if I ever actually need the item, they can mail it to me
avywbuono2d
I have used Virtual Post Mail since 2015. They also handle any checks that come in. They are noted as a commercial address though so you can’t use the address when applying for a credit card.
ekjedpbehdt16h
pncxvvlrurggob can you shed a little light on the ‘not in california’ caveat? prayskin-tone-5
zcoamogvbbfmu16h
california does not recognize FEIE. so they WILL try to tax you if you have a presence there, even if it's just a mail service. and if you lived there before you have to be very strict about severing all ties if you don't want to pay state taxes.
aiwefehhrkh16h
oh ho hooo okay, thanks for the heads-up
zqjfyvoxffl16h
And to chime in a little late, I switched to Post Scan Mail about a year ago, and am getting the same service I was getting from Earth Class Mail for significantly less.
zhvxcl16h
Fun fact the line in Hotel California by The Eagles “You can check-out any time you like, but you can never leave” is a reference to California taxes.
eavydtddqq9h
I’m going through this right now. Will be leaving California and plan to establish residence in Arizona (originally from there) before I become nomadic. I own a condo here though and not sure if I will be selling it or renting it out. Does anyone have experience with that? Will keeping it as a rental still make me a resident?
nyqpzouvx8h
CA will go after you for having a library card you forgot. A blockbuster membership from the 90s. Literally anything
icithomewabauv8h
I still pay CA tax 😞
webmnruyw7h
If you die don’t get buried in CA or they’ll retroactively claim you were resident
kowozemwlx7h
Haha I know, so I’m trying to do it cleanly. Mailing address, drivers license, voter registration, prob forming an llc. But I would still have a rental property in CA
cntixmudjh7h
rdagofqocqqrzaw what do you still have there that makes you a resident? Or did you just not become a resident in another state?
qfmenhjymwppqx6h
I claim residency there. I haven’t thought to change until this discussion.
gmffnc2h
I moved to texas before nomading. Got a cheap rental there, driver license, vehicle registration, voting registration - everything. I moved entirely out of CA with no intention of returning.
bjgqrkotuy11min
😂
rlusbuxogsn4min
My mother never lived in CA but my sister did and occasionally my mother would mail things to my sister (parents live outside of the US) and she still had to fight with CA every year about taxes
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