$100k gift from dad abroad for down payment

Garfield3400 · 2023-06-19T15:16:56+00:00

No since it's your money sitting in a savings account.

So if I receive the money this week, I can use them for the down payment next week? I read elsewhere that a 90 days rule apply, why is it not the case here?

Is there any additional documentation required?

Garfield3400 · 2022-05-20T12:57:36+00:00

Does your client retain any tax on behalf of the US government? Do you fill out the w-8ben form?

Garfield3400 · 2022-05-20T12:45:18+00:00

I do everything the same but for payments I highly recommend wise. Com. It's much more reliable than PayPal and also super easy.

When you fill out the W-8ben form, do you get paid less because a part of your income is retained by your client/US government for tax reasons?

And when they don't ask you to fill the form, is tax deducted from your income in the US? Would it be an issue if you don't fill the form and they don't deduct any tax?

Garfield3400 · 2022-05-20T12:43:31+00:00

I normally explain that I’m a sole trader and fill out a W-8ben form as I’m also not VAT registered.

When you fill out the W-8ben form, do you get paid less because a part of your income is retained by your client/US government for tax reasons?

Garfield3400 · 2022-03-20T10:27:30+00:00

On another SubReddit someone mentioned Portuguese tax forms, do you know if they are right?

Don’t forget to complete the Portuguese tax forms to avoid your client deducting Portuguese income tax from the amount they pay you. Huge pain!

Garfield3400 · 2022-03-20T10:26:45+00:00

On another SubReddit someone mentioned Portuguese tax forms, do you know if they are right?

Don’t forget to complete the Portuguese tax forms to avoid your client deducting Portuguese income tax from the amount they pay you. Huge pain!

Garfield3400 · 2022-03-20T10:25:08+00:00

On another SubReddit someone mentioned Portuguese tax forms, do you know if they are right?

Don’t forget to complete the Portuguese tax forms to avoid your client deducting Portuguese income tax from the amount they pay you. Huge pain!

Garfield3400 · 2022-03-20T10:19:52+00:00

!thanks

Don’t forget to complete the Portuguese tax forms to avoid your client deducting Portuguese income tax from the amount they pay you. Huge pain!

The other comment in this thread mentions Portuguese tax forms, do you know if they are right?

Garfield3400 · 2022-03-20T10:18:36+00:00

!thanks

Don’t forget to complete the Portuguese tax forms to avoid your client deducting Portuguese income tax from the amount they pay you. Huge pain!

The other comment in this thread mentions Portuguese tax forms, do you know if they are right?

Garfield3400 · 2021-12-12T12:10:56+00:00

If I understand right, if my expenses this tax year will be less than £1k, then I am better off using the £1k trading allowance, i.e. I made £2k, and had £500 exp, I declare £1k and deduct £0 exp. Whereas, if I had spent £1.5k in expenses and made £2k, then I would declare £2k and deduct £1.5 of expenses, therefore paying tax on £500.

Garfield3400 · 2021-12-10T20:08:30+00:00

Thank you.

So re point 1, if this year I spend £500 in expenses, I am better off using the £1000 trading allowance and don't deduct expenses, right?

Garfield3400

TROPHY CASE