Info Type
View Option
Sort by Category
Show all from recent
561. | Can you recommend a pawn shop near Waikiki !?(918view/1res) | Question | 2022/02/17 14:07 |
---|---|---|---|
562. | What to do if you have a corona while in Hawaii(1kview/3res) | Problem / Need advice | 2022/02/15 21:18 |
563. | Duty Free Shops at Narita International Airport(802view/0res) | Beauty / Health | 2022/02/13 14:48 |
564. | Consumer Protection in Hawaii(3kview/17res) | Problem / Need advice | 2022/02/13 13:38 |
565. | Yoga near Waikiki(906view/1res) | Sports | 2022/02/11 20:11 |
566. | Tax Returns on FX Account Profits in Japan(3kview/8res) | Question | 2022/02/10 09:31 |
567. | B-2 Viza(1kview/4res) | Question | 2022/02/06 19:04 |
568. | I lost my iPhone XS.(1kview/5res) | Problem / Need advice | 2022/02/05 15:46 |
569. | I have not received a 1099-G for 2021.(1kview/2res) | Question | 2022/02/03 16:56 |
570. | PCR testing at Haneda Airport ( Kinoshita Group )(1kview/2res) | Question | 2022/02/03 15:04 |
Tax Returns on FX Account Profits in Japan
- #1
-
- FX808
- 2022/02/07 21:16
Does anyone know what the tax amount would be in the US ( Hawaii ) if I have a profit of about 1 million per year in my Japanese FX account ?
( I think it is about 20% in Japan... )This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)
- #2
-
- tax man
- 2022/02/07 (Mon) 22:27
- Report
First of all, please understand that
basically the rule is that you cannot maintain an account in Japan if you do not have a certificate of residence.
This applies not only to FX but also to bank accounts, and if you do not have a resident registration in Japan, you
should first confirm that you cannot open or maintain an account regardless of your nationality.
In addition, we will explain
how you should handle your tax return if you reside in the US.
First of all, income earned in Japan should be treated as withholding tax in Japan.
As an example, if a Japanese tourist earns money gambling in Las Vegas,
there are two ways to process it.
One is to pay 30% income tax on the spot as a foreigner, or
the other is to file an IRS form and report the income in Japan
tax free.
For income from an account opened with a Japanese FX company while living in Japan,
1 ) Have the FX company withhold tax in Japan and complete the income tax payment
2 ) Report the income in Japan on your US tax return
In the case of 2), you will need to file an FBAR in the US.
If you have withheld taxes in Japan, you do not need to file a double return in the U.S.
since the tax treatment has been completed.
Furthermore, how much income you have in 1,000,000 yen is
based on the assumption that you file in the US, but the income from FX and stocks will be taxed at the capital gains rate
unless your US income is several hundred thousand dollars, in which case it is a part of other income. It will be taxed
at maybe 10% tax, which is about $1000.
I would like to inform the readers of this site that
1 ) people without a certificate of residence in Japan cannot basically maintain a bank account for the first time
2 ) income in Japan will be withheld at source and taxed in one country ( Japan ) to complete the payment of income tax in one countryand not include it in the US
tax return
3 ) If this is not possible, not only bank accounts but also stock and FX accounts must be declared separately
on the FBAR or other tax returns.This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)
- #3
-
- FX808
- 2022/02/07 (Mon) 23:22
- Report
Thank you for the detailed explanation !
My account does not seem to be able to withhold tax on FX profits, so I will report it as capital gains in the US.
( It seems that stocks can withhold tax ).This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)
- #4
-
Tax man, please let me study.
>> 2 ) Income in Japan should be withheld at source and income tax should be completed in one country ( Japan ) and not included in the US
return
In terms of construction,
USU.S. resident taxpayers are required to report their worldwide income and get
foreign tax credit ) if not all ( taxes collected in Japan ) back
, but
in practice, it is not possible toget the tax credit back in Japan.
Is it often the case that income withheld in Japan is not reported in the U.S. and the Foreign Tax Credit is not used
?
In the past, I had a small amount of income in Japan.This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)
Posting period for “ Tax Returns on FX Account Profits in Japan ” has been closed.
Please create new topic to continue the same topic.
- Find local business with Town Guide
-
- Get a fresh and vibrant look from the ey...
-
Let's have confidence in your face with art make-up. We coordinate your true face with such techniques that you will not even notice it is art makeup. We instantly assess the image of your face and br...
+1 (808) 386-4914Artmake Yumi
-
- This restaurant specializes in burgers m...
-
Honolulu Burger Company specializes in burgers made with fresh Hawaiian ingredients. The meat for our burgers comes from grass-fed livestock raised on private ranches such as Puu Waawaa Ranch on Hawa...
+1 (808) 376-0435Honolulu Burger
-
- Taiga Ramen
-
- Five Star Shrimp, formerly a food truck ...
-
Five Star Shrimp, formerly a food truck take-out restaurant found near the Waikiki Beach Walk, is now open here ! Our garlic shrimp are well seasoned with garlic and plump! We are a new restaurant op...
+1 (808) 376-0435Five Star Shrimp
-
- 0 minutes waiting time ! Car rental in H...
-
0 minutes waiting time ! Car rental in Hawaii run by Japanese. We will come to the designated location at the designated time for return, so no extra time is required. To ensure that everyone has a pl...
+1 (808) 387-2769STAR Rent A Car / スターレンタカー
-
- ✅ Online Business in Hawaii
-
aiTWorks helps our clients to ・ expand overseas to Hawaii
live in Hawaii. I want to live in Hawaii ! I want to move my family to Hawaii ! I want to start a company in Hawaii ! I want to esta... +1 (424) 216-2444aiTWorks
-
- Korean restaurant located at H-Mart in K...
-
A rich lineup of Korean dishes such as rice cooked in a pot, seafood pancakes, bulgogi, sundubu jjigae, etc. A wide variety of Korean dishes are available. Jajang Noodles, etc. are also available.
+1 (808) 201-1196GAMA
-
- Please come and try our delicious omusub...
-
When you want to relax, come to "Iyasu Yume". We offer delicious rice balls and bentos made with handmade rice. Opened in 2000 as Hawaii's first restaurant specializing in omusubi, Iyasumu is a pion...
(808) 465-9682Musubi Cafe Iyasume
-
- A general practice department has opened...
-
Family Medicine is a general practice that covers general care in all departments for babies, the elderly, and pregnant women. Conveniently located from Hawaii Kai, Kahala, Kaimuki, Ala Moana and Waik...
+1 (808) 377-3193Ohana Clinic
-
- Okihime Cleaning, Hawaii's premier clean...
-
If you are concerned about the quality of cleaning for your children and pets ! Leave the cleaning to Okihime Cleaning ! Bakeren ・ General residential ・ We clean commercial properties and more ! We...
+1 (808) 498-6870Okihime House Cleaning
-
- There are only two types of ramen in Haw...
-
Established in 2010 ・ Tokyo Shinbashi main store "Ramen Bari-On", a ramen store with 6 stores in Tokyo, is now open in Hawaii ! Our skilled ramen chefs dispatched from the main store in Tokyo make o...
+1 (808) 942-2025Ramen BARIO - Hawaii
-
- Since 1987, we have been providing a ful...
-
MAP ・ Vision has been in the real estate management ・ brokerage business since 1987, providing a wide range of consistent services from buying ・ selling to managing ・ renting Hawaii real estate to eve...
+1 (808) 971-0101Map Vision, Inc.
-
- Eyelash Extensions ・ Eyelash Perm ・ Nail...
-
Koco Ko Ko, Salon Akua's eye stylist with over 10 years of experience in Japan and Hawaii, and Aiko, former Syisyu's manicurist, are now independent ! We help you shine your best with attractive eye...
+1 (808) 460-2433ラ・ボーテ・アネラ | La beaute Anela
-
- Polanji Piano School Free Trial Lesson !...
-
Welcome to Polanji Piano School ! Thank you for visiting our website ! Our piano school started in Hawaii in August 1999. We are committed to helping each student continue piano lessons at his or her...
+1 (808) 371-8910ポランジピアノ教室
-
- In sports and life, the second half of t...
-
Hawaii Senior Life Association was established to help Japanese-speaking active seniors enjoy Hawaii more. We hold over 200 events a year, including regular events every Friday as well as various spe...
+1 (808) 428-5808Hawaii Senior Life Enrichment Association (HISLEA)