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What do you do about filing your US income taxes ?


The Other Tom
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I've noticed most WC embark in Jan and can finish as late as May, or later. For the US citizens who take WC, what do you do about filing your income taxes ?

 

I asked my CPA the same question because we return home April 16! This was his reply:

 

For the taxes, that will be easy. As can file an extension for you guys that gives us until 10/15 to file the tax returns. So, once you get back we can get everything and get them filed.

 

The only thing to keep in mind is that if you owe any tax, they will charge interest from 4/15 until they get the return and get paid. Probably not a big deal as the interest they charge is rather modest, but something to keep in mind if your withholdings are not sufficient.

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Thanks for the replies. I hadn't thought about giving one of my kids the power of attorney and letting them file the taxes. I suppose I could do the "ground work" so that it wouldn't be too much of a burden on them. Thanks again.

Edit: I thought about filing an extension but wondered about doing that from a foreign port. I guess I could still mail it (the extension) in from a foreign port, right ?

Edited by The Other Tom
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Our accountant will help us to estimate our taxes and we will prepay along with an extension request. We will then file our tax return sometime in early July when we return to the US.

 

This is what I have done and it worked without issue. I will admit to being somewhat generous with my estimate for both state and federal taxes. But, it was nice to receive a refund that helped to fund additional travel.

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This is what I have done and it worked without issue. I will admit to being somewhat generous with my estimate for both state and federal taxes. But, it was nice to receive a refund that helped to fund additional travel.

 

Agreed ... we're also planning on a generous estimate ... no sense returning to headaches later.

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  • 1 month later...

Just want to note that unlike the old days you just file a tax extension form. It's not a request where approval is needed. It is for six months.

 

If you also pay state income taxes be sure to check with your specific state to see how that is handled.

 

Keith

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  • 5 months later...
Thanks for the replies. I hadn't thought about giving one of my kids the power of attorney and letting them file the taxes. I suppose I could do the "ground work" so that it wouldn't be too much of a burden on them. Thanks again.

Edit: I thought about filing an extension but wondered about doing that from a foreign port. I guess I could still mail it (the extension) in from a foreign port, right ?

 

You can also do it online through one of the IRS approved websites, i.e. Official Payments.com or PayUSATax.

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  • 2 months later...
We do our own taxes and do them online. Just find a day where you have good wifi and need a down day and do the taxes.

I thought of that but I'm concerned about internet security at a public location, especially in a foreign country.

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Thanks for the replies. I hadn't thought about giving one of my kids the power of attorney and letting them file the taxes. I suppose I could do the "ground work" so that it wouldn't be too much of a burden on them. Thanks again.

Edit: I thought about filing an extension but wondered about doing that from a foreign port. I guess I could still mail it (the extension) in from a foreign port, right ?

 

That is not the best way. Go to Officialpayments.com or payusatax.com. Fill our the form for an extension (Fm. 4868?); pay via credit card any amount that you are short; and it is done. Print out the receipt. Nothing to it. We have been doing this for years. We never pay our taxes on April 15th.

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We do our own taxes and do them online. Just find a day where you have good wifi and need a down day and do the taxes.

 

 

Sent from my iPad using Forums

 

How do you get W-2 and other statements necessary for doing your taxes before the WC starts (usually the first week of January)? My forms usually come in between January 15 and 31.

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How do you get W-2 and other statements necessary for doing your taxes before the WC starts (usually the first week of January)? My forms usually come in between January 15 and 31.

 

 

File for an extension and don't worry about them. Trying to get your taxes done before sailing or while sailing is unnecessary and counterproductive. Just enjoy your cruise!

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O.K. But how does one obtain that on a personal laptop and how can it be used through the ships satellite connections?

 

You install it on your laptop and anytime you connect to a wi-fi -- be it the ship or other public -- it routes you through the VPN server you selected in set up. It works very well with hi-speed internet. Since you are being routed to another secure server, your speed can be impacted ... usually not noticeable with a high-speed connection, but we turned it off on the RTW we recently did because the ship's internet was slow, and the VPN struggled to connect. We mostly use it whenever we need to use a public wi-fi on land.

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