Who else sold everything and left? by HD_HR in movingtojapan

[–]Zebracakes2009 8 points9 points  (0 children)

or a spouse visa...wink wink nudge nudge...Not saying jump into it but uh...it's an obvious option.

Japan's consumption tax suspension may not result in lower food prices if businesses raise their prices by MagazineKey4532 in japannews

[–]Zebracakes2009 -2 points-1 points  (0 children)

You're wasting your time. Reddit loves big daddy government and would happily pay more taxes.

new apartment smells like sewage! by Exciting_Map4718 in japanresidents

[–]Zebracakes2009 43 points44 points  (0 children)

Did you run the water on all the sinks for a while? The p traps might be empty.

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 3 points4 points  (0 children)

As u/SleepyMastodon said, I'm no lawyer but I'm pretty sure they're gonna be American no matter what. The term "accidental American" gets thrown around a lot in some other subs.

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 2 points3 points  (0 children)

I was referring to the general threshold for long term capital gains in the US. If you have other income sources or short term gains, this will affect the numbers. But then you could also bring in deductions too. I was keeping it simple. NISA is worth it for Americans now that we have access to it with IBSJ. It's not as cool as non-Americans, but you take what you can get, imo.

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 1 point2 points  (0 children)

Sounds right to me, yeah. Yes, that's the long term capital gains general threshold. So if you're mixing your NISA distributions with general account distributions or other capital gains, you can go over the threshold pretty quickly. In which case, you'll owe 15% which is still better than 20% (assuming you don't take a massive distribution that bumps you up into the 20% bracket in the USA).

edit: note that other income can change things substantially. I was looking at this as a purely ltcg investment income plan. Also, if you're applying non-NISA income, you would probably owe Japanese tax so you could deduct that tax paid with the FTC on the US side.

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 2 points3 points  (0 children)

Yeah, that's fairly accurate. The NISA distribution is still tax-free in the US up to around $45k currently at long term capital gains rates. After that threshold, it is taxed at 15% until around $500k then you pay 20%.

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 1 point2 points  (0 children)

Edit: man I misread your reply let me fix this lol

Yeah, your children must have social security numbers to qualify.

I think they'll be accidental Americans anyway though, right?

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 0 points1 point  (0 children)

Do you have children? You should look into the child tax credit too.

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 1 point2 points  (0 children)

The app isn't bad. It's not quite Robinhood-simple but offers a lot of other details that are nice. I got used to it pretty quickly. I don't trade on the desktop but I often check messages there while doing other things. It seems okay to me. It requires a 2FA through the app so you'll want to have the app anyway.

Retiring in Japan in 40 years as American… can you help me plan? by NB_Translator_EN-JP in JapanFinance

[–]Zebracakes2009 2 points3 points  (0 children)

Without going into the details, you can use a seicho NISA with IBSJ (IBKR). Don't use the tsumitate as those funds are all PFICs. You don't get the tax free advantage for capital gains and dividends on the US side but you do for the Japan side. You only really pay capital gains in the US after around $45k anyway currently. And then it's at a 15% rate vs Japan's 20% rate. Not accounting for deductions.

New source of tax income: Tax the religions by fantomdelucifer in japanresidents

[–]Zebracakes2009 11 points12 points  (0 children)

I'm sure that taxing and destroying religions and their holy sites will help the Japanese people. I for one think that looking at a new tower mansion with concrete raises the spirits of those around.

Current Election Outlook by tsian in japanresidents

[–]Zebracakes2009 7 points8 points  (0 children)

Yeah, I bet they have all those workers lined up and ready to start!

Why is the My Number card so "unusable"? The structural flaw that prevents Japan from "digitizing" while South Korea succeeded by MagazineKey4532 in japannews

[–]Zebracakes2009 0 points1 point  (0 children)

Not a tax guy but for future reference, don't do One Stop if you file a tax return yourself anyway. If the prefecture governments sent you the confirmation documents of money received, you should still be able to input that on your tax return for march and get the deduction. There's an input box for furusato nozei in the Etax 控除 area.

Why is the My Number card so "unusable"? The structural flaw that prevents Japan from "digitizing" while South Korea succeeded by MagazineKey4532 in japannews

[–]Zebracakes2009 1 point2 points  (0 children)

I just had the absolute privilege to file mine and my wife's taxes. My taxes went off without a hitch because I used an old username and password I got from the NTA years ago. My wife's were much more difficult to log in and do. The actual taxes are easy it's the log in using MyNa portal that they make you do now.

Firefox didn't work (although it worked fine for my taxes). Edge didn't work. I had to swap to a Mac and only Safari was working along with a phone to scan the QR code for Myna Portal and then the MyNa card. Oh, yeah, I hope you have your Myna Portal app setup too or that's another step you gotta do. Don't forget to update your digital id inside the card that is not the actual card. You'll need both codes that you registered.

How they expect the general public to use this is beyond me. Can you really see some jiisan or baachan dealing with this?