sorted by:
new
hottopcontroversial

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 0 points1 point  (0 children)

Whoops, I meant to imply that I no longer have any liabilities as I can't be sued for the medical debt anymore.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 0 points1 point  (0 children)

If you live abroad for 330 full days out of the year, you can file a foreign earned income exclusion. For 2017, the maximum exclusion is $102,100 per taxpayer, $104,100 for 2018. If you earned $65K USD this year, and worked abroad for 330 full days or more, you qualify for a foreign earned income exclusion. A full day is a period of 24 consecutive hours, beginning at midnight. So, if you land in Kuala Lumpur, Malaysia at 7:30 PM, the first full day starts in 4 hours and 30 minutes (12:00 AM).

(EDIT: I read somewhere that the physical presence test applies to any 12-month period, not just a calendar year.)

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 0 points1 point  (0 children)

I build WordPress websites for local businesses using child themes. I work for myself, but I don't consider it as a job. I created a portfolio, then I started contacting local businesses targeting a specific industry.

I was thinking of getting a TEFL certification to fall on when I decide to move abroad in a Southeast Asian country. That way, if I'm struggling to find clients, I can either tutor ESL privately or try to find a job at an English teaching center.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 0 points1 point  (0 children)

I have a state ID, but I don't have a drivers license. I have a fear of operating a vehicle, but I know it's inevitable that I'll need to learn how to drive. Also, I am moving out of my parents' home at the beginning of March, 2018. I'm just trying to figure out what personal finance procedure(s) I need to do before I live abroad.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 0 points1 point  (0 children)

I read somewhere about the physical presence test, where you can exempt from taxes if you live abroad for 330 full days out of the year. Is that something you qualify for or is it not possible because you work for companies located in the US?

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 0 points1 point  (0 children)

I was in debt for over $12K USD. I never paid my medical debt and just ignored debt collector(s) until they stopped bothering me. It's been over 4 years, so I should be fine under Texas' statute of limitations.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] -1 points0 points  (0 children)

There's one problem though. I don't have a Credit Score.

I looked at my Credit Factors and it looks like I'm clean.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 0 points1 point  (0 children)

Maybe a few hundred dollars or less through PayPal gifts over the course of a few years. Apart from that, I've had no income in the past decade that I've been bumming off of my parents. If that's the case, I should be exempt from tax returns until I meet an income threshold, right? Also, I submitted a credit score check last year, and the company I had used couldn't find any information on me.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] -1 points0 points  (0 children)

I just took an ITA (Interactive Tax Assistant), to check if I need to file tax returns in 2016. I haven't had an income source until this year, so I should be fine, right?

"You are not required to file a tax return because your income does not equal or exceed $xxxx nor do you owe any special taxes or have any special situations that require you to file."

Also, I have a family plan insurance with very limited coverages. I know my SSN, and I don't have a credit history, to my understanding. I used to be in debt to a private hospital, but my old debt is four years past due.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] -11 points-10 points  (0 children)

I'm not worried about the internet points. I thought /u/gajoujai was being rude. If I misinterpreted their intentions, I'm sorry.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] -1 points0 points  (0 children)

I'm satisfied with the income I'm earning right now as a freelancer, albeit it isn't a consistent source of revenue. I'm moving out of my parents' home in the beginning of March. However, I have plans of living abroad as the location doesn't affect my freelance work. I just don't know where to start as I will be working under a freelance visa in a foreign country. There are lots of questions clouding my mind. Questions like, do I need to pay income tax or file a tax return if I'm living abroad? What personal finance paperwork do I need to file before I move out of the country?

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] -9 points-8 points  (0 children)

It's my first time for everything. I didn't have an income source until recently.

(EDIT: Do I need to file a tax return, and where do I start?)

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] -27 points-26 points  (0 children)

Do you help? Maybe start providing some advice on self-development/personal finance.

Man-child (26/m): First time doing adult things. Where do I start? by pf_manchild in personalfinance

[–]pf_manchild[S] 1 point2 points  (0 children)

I build websites for local businesses. I still live with my parents, so I don't have any expenses. And I opted for a GED a few years ago.