US citizen in Singapore - tax question

[drumfizzy]

I make 200k SGD a year.

I know my first 100k usd or so is tax free as I report to the US.

I think I owe Singapore 30k in taxes as a result of the 200k.

I don't have any specific US state residency. At one point I lived in new York but not anymore. I have no ties there.

1) am I obligated to pay state tax?

2) a calculator online says I owe $25k total federal tax. But between removing the first 100k USD and also taking the 30k SGD tax credit, I should effectively owe $0 to the US government right? (I still plan on filing my return)

Thanks!

 

[desiney]

@drumfizzy As an expat too, it gets pretty complicated. I use Deloitte for my taxes and it's worked out well over the years. Small things become tricky. My previous "home state," Ohio, recently saw that I renewed my drivers license in 2017 and needless to say I now owe 2017, 18 and 19 taxes so best to leave tax filing to the experts!

 

[monamie]

@desiney I have been considering Deloitte for my tax advice. I have had a 1 on 1 session with an EY representative which HSBC offered me. Did not blow my socks to be frank.

How would u rate Deloitte's approach for personal taxation? You think it offers good advice and cost over performance ratio?

Would appreciate any input, thanks.

 

[desiney]

@monamie I've been impressed with Deloitte. Worked with them since 2010 when I left the US for India. I've used them since, including when I was in Singapore from 2013-15. Cost wise I'm not sure their rates as it's paid by the corporate I work for, but in terms of ease as well as comfort in that Deloitte is on the hook for any errors (on their side) I've been very happy with them.

 

[monamie]

@desiney That's very good to know. I will see if I can talk to the guys in the following days. Thanks for the info!

 

[cross_product]

@drumfizzy You may want to consider talking to an expat tax specialist. I’m sure you know living abroad limits what you can and can’t do in terms of investments. Depending on how you file your taxes you could still invest in a US 401k or other options.

This doesn’t answer your question but just wanted to let you know that with that income it’s probably worth 500 usd to get professional guidance to avoid any major mishap.

Enjoy Singapore, I lived there 3 years! I’m in Hong Kong now!!

 

[eliana123]

@drumfizzy Hi, regarding NY State tax - here’s a simple tax guide that helps you determine whether you need to file New York state taxes:

Did you live in New York for any part of the year?

• Yes: You will need to file as Part-Year Resident
• No: Continue on

Did you earn any New York sourced income during the year?

• Yes: File as Non-Resident
• No: You don’t need to file

Also, if you were a Non-Resident of New York State, you are subject to New York State tax on income derived from New York State sources.

If you were a resident of New York State for only part of the tax year, you are subject to New York State tax on all income you received while you were a resident of the state, and on income, you received from New York State sources while you were a nonresident.

Source.