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@mauriciosr There is no such limit. You are entitled to deduct all necessary expenses. You may have been thinking of the rules relating to assets worth more than 100k. The purchase price of such assets must be amortized over multiple years. FYI, whether you can deduct something like "a trip...

@tempset Ah ok I see what you meant now. Yeah, you're right that in Japan your cost basis at any given time is the same for all shares, regardless of when they were acquired.

@nhacaik A doesn't end up with any liability because they aren't (in this scenario) inheriting any taxable property. It's just that to work out how much tax is due on the estate, it's necessary to imagine a kind of "ideal" distribution of property according to a statutory distribution under...

@manishk012 I guess. But it depends how you set up your sheet... I would prefer to track quantity and cost basis separately. No need to update the cost basis when a sale occurs, just the quantity. Then when you have a new purchase, you calculate a new cost basis by reference to the current...

@ethzz To avoid potential terminological confusion: A revocable trust is one where the settlor (person who owns the assets before the trust has been created) retains control over the terms of the trust during its operation. For example, they can add/remove beneficiaries, add/remove assets, be a...

@mauriciosr I don't think this is a good reason to start a company. Expenses can already be deducted from crypto gains, even without a company, and while a company would give you more flexibility with respect to how you do your accounting, that flexibility comes with hugely increased...

@___shadow___ I assume you hold a table 2 visa or have lived in Japan for at least 10 years (otherwise you wouldn't be worried about paying inheritance tax on overseas assets). All that matters is whether your 住所 (as defined by Article 22 of Japan's Civil Code) is in Japan at the time of the...

@resjudicata Yep. More statutory heirs always reduces the ultimate tax bill, even if they don't live in Japan.

@diana14 Exactly. Given the contents of the treaty, that's the only way to avoid double taxation.

@tempset I don't understand the distinction you are making. Your cost basis is determined by the average purchase price of all shares you hold. It is both "per-unit" and an average. It doesn't. Only purchase transactions affect your cost basis. Yes. Yes, the new cost basis would be (40 x...

@stanothweb There is no registration system for sole proprietors in Japan. What you are possibly asking is whether you should notify your local NTA office (and potentially your prefectural tax office) that you will be generating "business income". The answer to that question depends on whether...

@mariangel Income tax withholding rules are based primarily on the location of the employer, not the employee. So if the companies you are referring to are Japanese, they must withhold income tax from any salary payments made to Japan-based employees. Foreign employers do not have to withhold...

@ltodesign This is the big downside to algotrading. If you don't design the algorithm with tax accounting in mind from the beginning, you can potentially incur more in compliance costs than you make in profits. Historical JPY rates for many cryptocurrencies are available from various...

@nhacaik No, you've misunderstood what is being done at that link, and you've misunderstood what my past comments said, and I think you may even have misunderstood what your advisor told you. You can safely ignore property outside Japan inherited by limited taxpayers. But you have to take...

@l0v3dr34m Yeah there were some court cases and this was the outcome. You can't use a US personal tax return to calculate your Japanese business income if there is an intermediate US corporate entity, because Japan doesn't allow foreign corporate entities to pass their income untaxed to their...

@tempset The trick is to remember that only the disposal of foreign currency can trigger a foreign exchange gain/loss, and the disposal of foreign currency always triggers a foreign exchange gain/loss. The sale of an ETF, for example, cannot trigger a foreign exchange gain. Whereas the purchase...

@mariangel I think you mean Japanese corporate income tax. Japan doesn't have "payroll" tax. Employees' health insurance and pension are a bit like payroll taxes, but foreign employers are not required to pay those.

@yahoshua Yeah it sounds like you would have a potential Japanese gift tax liability. You're on a spouse visa so your gift tax liability includes assets located outside Japan. You may want to look into the possibility of treating the gift as an early inheritance, as discussed recently in this...

@ltodesign Well it sounds like doing the calculations manually isn't going to be practical. You would likely need to write some code to do the calculations for you, or else feed the data into a commercial service that will run the calculations for you.

@l0v3dr34m Individuals can't declare income paid to an S Corp as personal business income, because Japan does not recognize pass-through taxation. The S Corp must file a corporate tax return in Japan, and then payments made to the owner are taxed as dividends. This is why it's almost always a...