Search found 9 matches

by gzmike
Mon Jan 24, 2022 12:45 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: Best TAX Company for Expats
Replies: 2
Views: 5797

Re: Best TAX Company for Expats

Turbotax can easily handle your three issues and it is easy to use and e-file. My return is even more complex (hundreds of stock and crypto trades in addition to self-employment and a 2555), and turbotax led me through it with no problems. There is a free version that only works online but I use the basic version that I download that costs $30-40.
by gzmike
Fri Aug 24, 2018 11:31 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: Coming Clean with the IRS
Replies: 6
Views: 11089

Re: Coming Clean with the IRS

I didn't file taxes for my first 5 years in China and then filed them all at once in the 6th year, and then each year until now (9th year), and had no problems. You don't need to waste money on an accountant, who will probably charge over $1000 for a few years of returns and FBAR's. You will need to mail it in, so forget about e-filing (I use DHL since I don't trust regular mail in China). If you really can't figure it out, just ask other American teachers at your school and there is probably at least one who can help you, which will probably be a math, science, or economics teacher (I have helped other teachers at my school fill out their taxes and never accept money for it, but instead let them do my night study or other duties). Just follow the others' advice here and use the Bonafide Residency. There is no penalty for filing late (since it is based on how much you owe which will be $0), but if the IRS audits you before you file, then you could lose the 2555 deduction. So better to catch up now so you don't have to worry about it.

And one more important thing to mention: if you always keep your foreign account balance under $10,000 USD, then you don't have to worry about an FBAR. That is what I do, even if I have to withdraw cash right before I get paid which is what I used to do when I knew my account balance would go too high (before I had a Chinese wife - now I just transfer excess money to her account, and she transfers some of that directly to my US bank account since it a pain for foreigners to transfer their money out of China).
by gzmike
Fri Jul 20, 2018 12:16 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: How are you preparing for retirement financially?
Replies: 44
Views: 60126

Re: How are you preparing for retirement financially?

If you are American, then the first thing you should know is that you cannot contribute into an IRA (either Roth or Traditional) if you don't have earned income for that year that actually counts towards your AGI (which means not on your form 2555, which is how you avoid paying taxes on income earned abroad). So if you do put all of your earned income on a 2555 (personally I choose not to for the above reason), then I would suggest just opening a regular individual brokerage account (Robinhood would be good for a beginner since it has no minimum and no commissions - you can open the account and fund it online in about 3 minutes). Then just choose a couple ETF's (I would suggest VT and QQQ) and buy. Then keep buying more and more as you can. Once you have over $10,000 invested, then you can try to get a little more advanced by choosing individual stocks if you want, or just stick with a couple ETF's if you prefer. I think this is far easier than most other ways to invest for retirement, and certainly has one of the highest rates of return over a long period of time.

Please feel free to PM me if you have any questions about the tax stuff. I am used to being the "tax guy" at my school for all the American teachers (I prepare all their returns and never accept any payment) and don't mind helping others with this since it is very easy for me.
by gzmike
Thu Jul 19, 2018 11:37 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: Ghangzhou/rural, teacher appearance expectations, tattoos?
Replies: 4
Views: 6579

Re: Ghangzhou/rural, teacher appearance expectations, tattoo

I worked at three different schools in the Guangzhou area and all required tattoos to be covered, but that was only at school. Regarding dress code, that varied quite a bit among schools and even from year to year at the same schools for me. Guangzhou is extremely hot and humid from late April until late October, and many teachers wanted to wear shorts, sandals, and t-shirts. Even though classrooms have AC most of the time, most schools are open air and therefore don't have AC in hallways, stairways, etc. Sometimes you could get away with this and sometimes you couldn't, depending on which department or grade level you were teaching in (in one school it was ok for Chinese teachers to wear shorts but not foreign teachers). However, none of the schools required formal dress except for a few times per year for parent days and other events.
by gzmike
Tue Jun 19, 2018 2:40 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: getting certification with American Board
Replies: 5
Views: 14791

Re: getting certification with American Board

I should clarify that I mean a link for the information for both the UT and MA certifications, thanks!
by gzmike
Tue Jun 19, 2018 2:29 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: getting certification with American Board
Replies: 5
Views: 14791

Re: getting certification with American Board

Thanks PsyGuy, that was very helpful. I have seen many of your posts on this forum and you obviously know what you are talking about. But when I search online about how to get certified for Utah, I don't see the option you mentioned. I did see on https://www.teachercertificationdegrees ... ation/utah that "A Level 1 license is the initial certificate that teachers receive after completing a bachelor’s degree and passing the Praxis Subject Assessments. Teacher candidates must be recommended for licensure by an accredited institution before a Level 1 certificate can be issued. Those who complete an alternative route to teaching certification or who are eligible for reciprocity from another state will also be granted a Level 1 license."

So it sounds like the three ways to get certified are 1.) completing a teacher training degree, 2.) complete an "alternative route to teaching certification", or 3.) transfer licence from another state. I know I don't meet the criteria for option 1 or 3, so I searched more about option 2 and that is how I came across the American Board.

Again, I appreciate your reply and I sincerely believe you are one of the most knowledgeable and helpful members on this forum, but can you please give me a link to an official source or something that I can look at that explains the option you mentioned? I already wasted time and money applying for a CT license since I was led to believe (not by you) that I would be qualified with my masters in math plus proof of my last couple teaching jobs, and all I got was requests for more and more documents and finally a big NO when I finally spoke to a supervisor.
by gzmike
Mon Jun 11, 2018 6:11 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: Blindsided
Replies: 30
Views: 38644

Re: Blindsided

I have worked in a few schools in China, and sometimes switched jobs simply because it was already April and my school had just not gotten around to renewing contracts yet (it was like they didn't even think it was a priority to renew contracts so "early"). I tried explaining to several admin in the past (usually starting in March) that good schools start recruiting before winter break and that they might lose me as well as other good teachers if they don't renew soon, but there were always excuses and vague promises that they would get it when they could. So my best advice is don't wait until May to find another job if your school has not already renewed you. Even April is probably too late!
by gzmike
Mon Jun 11, 2018 10:36 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: getting certification with American Board
Replies: 5
Views: 14791

getting certification with American Board

Does anyone know about getting certification with American Board, which is an alternative teacher certification program? According to their website you just need a BA/BS in any subject, pay them $1900 for the online "course" which consists of just study materials for the two tests you have to take at a Pearson center (Professional Teaching Knowledge and a subject test). It says you can get certified in one of 13 states. Some of those states start you off with a provisional license and you have to teach in that state and complete some PD to get a "normal" license but it is not clear if some of the other 13 states on the list have better options for someone like me that doesn't want to actually teach or live in the US again. Overall this sounds much easier, and cheaper than readyteach or teachnow, so I am surprised I haven't found anything about this program on this forum.

I have an MS in math and taught in the US (college level) for 9 years and then in international schools in China for another 9 years (and now a department head at my current tier 3 school in Shanghai). I know I need certification if I want to work in a better school, but I will probably only work another 10 years until I retire so I don't want to spend too much time or money as my current job is not too bad (I just know I could make more money and get better benefits at a tier 1 or 2 school).