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I work in the offshore oilfield industry, I'm gone 6-7 months out of the year in international waters,,, Single and making good money, I'm paying alot of taxes, are there any tax laws, that will cut me a break? Since I'm gone so much?

2007-04-16 15:16:48 · 2 answers · asked by kent e 1 in Business & Finance Taxes Other - Taxes

2 answers

In order to avoid paying US Taxes you have to be gone from the US for all but 30 days per year. If you stay longer than 30 days in the US in any given year; you pay taxes for the entire year.

I used to run crew changes and crew HR for international persons who worked on our company drilling rigs all over the world. Most of the US men would get an apartment or home in some other place in the world rather than pay US taxes. You also have to file a form with the IRS stating that you are leaving the country and they will keep track of your entrances and exits in the US.

But the hitch here is that usually when a company hires a person they want to fly the person to and from their home base. When I was in charge of the crews I let them leave or go to any place they wanted to go but some companies are sticklers.

2007-04-16 15:23:30 · answer #1 · answered by Anonymous · 0 1

You're not in a foreign country so you do not qualify for the Foreign Earned Income Exclusion. You must be physically present in a foreign country to get any tax breaks; international waters does not cut it and is specifically excluded by law.

2007-04-16 21:37:19 · answer #2 · answered by Bostonian In MO 7 · 0 0

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