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@yahoshua As others have mentioned this is certainly a gift, but also has potential to be classed as an early inheritance should you choose to take that path. Should it go down as a gift it's taxable after 1.1 million JPY. Should it go down as an inheritance then you're both liable for...

@steamboatpaul Yup. If you want to utilize it for 2022 then you need to “donate” by December 31st 2022. The donation date is the date of the purchase, so if you donate say today (December 27th 2022) then even if the item does not arrive until 2023, it’s still a 2022 donation. Just Make sure to...

@manishk012 That’s ok. easy mistake to make. Many people seem to make the mistake too, so you’re not alone. I guess the easiest way to think about it is that gifts/inheritance are a separate form of taxation to income tax (in the context of NPR, “foreign sourced income”) I.e when you file a...

@manishk012 I recall You’ve made this mistake before… for table 1 visa holders, Tax on Overseas gifts and overseas inheritance doesn’t apply until 10 years (of the last 15 years) OR if they are a table 2 visa holder then it applies from the moment they have a table 2 visa. You’re mistaking...

@mototothemax Sorry yea that’s what I mean. Some people include the depart on or before December 31st (current year) in their exit strategy. Essentially they then earn taxable income (current year) resident tax free. So in that case if you’re forward planning your exit and intend to avoid...

@mototothemax It’s worth noting that for anyone with an exit strategy which involves legally avoiding resident tax (I.e ceasing residency and leaving on or before December 31st (current year)) should avoid Furusato nozei for the tax year they intend to execute their exit strategy.

@tristatervrepair For your 2021 tax year it’s fine to use one stop if you’re not filing a final tax return (Feb/March 2022). However, If you do Furusato nozei in 2022 tax year and for whatever reason have to file a final tax return (in your example because you got additional misc income) March...

@eterna Thanks for the shout out! 🍻 Happy to have helped people understand, and forecast their Japanese pension. Hopefully it makes people feel more confident about their retirement.

@kristhuy Ah I see. Then yea I guess OP’s tax obligations to Japan could be a lot more complex than I thought.

@burk88 I Believe so. But unlike appointing an income tax representative (which has a national standardized method), the resident tax representative is appointed at local government level, so there is no standardized process.

@kristhuy Great write up to summarize the year! Gotta agree I enjoyed @phillev ‘s post on “how much do you need to retire” Was good to read on others opinions, and retirement plans.

@kristhuy Sorry I was just referring to the colour format in E-tax haha. I did notice that LLC but he did not mention the day to day operations of it. If OP does not actively engage in its operation does it become Foreign sourced income? If so (and OP remits nothing to Japan) then the only...

@burk88 Sorry as this is not related to your OP, but pointing it out Just in case you’re not aware…. If you do it on/before December 31st 2023 then you can avoid 2023 resident tax (billed from June 2024). If you’re still residing in Japan as of January 1st 2024 then you’re liable for the...

@resjudicata I can't speak for US taxes. But I totally recommend giving the Japanese taxes yourself a go instead of paying someone. It sounds like Japan side OP is only filing a "Red Form" Tax Return (Income tax). Compared to other Japanese systems and UIs, Japanese taxes are oddly quite...

@philip248 “50 different places” As long as it falls within your Furusato Nozei allowance. You’d probably need a pretty high taxable income to have an allowance suitable enough to support 50 “donations”.

@blueskye30 You’re welcome 🍻

@hark Immigration don’t usually need income tax related documents (apart from PR application where they need 源泉所得税及び復興特別所得税、申告所得税及び復興特別所得税、消費税及び地方消費税、相続税、贈与税に係る納税証明書（その３）) So these are likely the resident tax certificates immigration requires from OP (or OP’s friend… or whoever… let’s just say...

@phillev Thanks for the write up! A question comes to mind. I plan to retire in Japan so this doesn’t really affect me based on my current retirement plans, but curious for others…. Does the pension Annuity still increase annually for those residing outside Japan? Or does it get “frozen”...

@halleluyah Yea, don’t take a policy out with Tommy down the road haha.

@revstockton Just for clarification I wasn’t talking about the investment types of insurance.