Re: Ask Degen Anything About Living In Thailand
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If you are outside of the USA for at least 330 days in any given tax year then your first 80k is 100% tax free. There are certain limitations to this law though so you should read up on the specifics. 'Self employment income' is not covered by this break. Im not sure if poker winnings falls under this category so if it doesnt then you should be home free.
The tax break alone is more then enough reason to live in Thailand if you are making more then 80k playing.
Additionally, under certain circumstances you can deduct your housing costs among other things. So if you make more then 80k you could still take some nice deductions off the rest.
(My uncle is a CPA and did my taxes and I paid almost nothing while living in Thailand for 2+ years)
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I think you have to be working legally in Thailand to file for that exclusion. It is technically illegal to work under a tourist visa not to mention illegal to gamble in Thailand so I think you can only exclude foreign income if you had a work permit in Thailand. (not easy to obtain)
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