Income tax outside US

[Taralynn]

Hi,

I am a Lawful Permanent Resident of the US. I immigrated to US 6 months ago. I have some income from a nail shop. By end of Jan 2015, I will be in Vietnam for working. I will be back to US once a year to visit my family. Can you help to show me how I should file federal income tax before I go to Vietnam as well as my income in Vietnam? In addition, my country of citizenship is Vietnam. Should I pay both US income tax and Vietnam income tax?

Regards,
Taralynn

[rayb]

Worldwide income of U.S. citizens and Green Card holders needs to be reported to IRS on income tax returns. If income taxes are also paid in Vietnam, part of your U.S. tax return allows for a credit for income taxes paid to another country, but the means of reporting this depends on any tax agreements between the two countries and what reporting documents were used in Vietnam. If out of the U.S. 330 days of a 12-month period, you are eligible for an foreign income exclusion, but your self-employment tax is not affected by this exclusion.

Professional tax preparers generally charge a higher-than-average fee for an income tax return of this type. But if you purchase a good consumer income tax package, like Turbo Tax, for about $90, you can work through the requirement fairly easily.

--Ray B

Hi,

I am a Lawful Permanent Resident of the US. I immigrated to US 6 months ago. I have some income from a nail shop. By end of Jan 2015, I will be in Vietnam for working. I will be back to US once a year to visit my family. Can you help to show me how I should file federal income tax before I go to Vietnam as well as my income in Vietnam? In addition, my country of citizenship is Vietnam. Should I pay both US income tax and Vietnam income tax?

Regards,
Taralynn