Such a rule is Foreign Earned Income Exclusion. For other information about expat tax laws, consult one of the professionals at taxplannercpa.com. Tax Planner CPA specializes in filing taxes for US expats, and can be contacted at any time of the day by email. Quotes can also be requested here:
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The surge of American expatriates in Bali and in Indonesia is a fairly recent occurence. Around 30 years ago, Bali was a farm-based economy. But today Bali is a huge tourist destination, and roughly 80% of the economy is based in the tourism sector. How did this relatively small and rural island town in the South Pacific become such a magnet for visitors and foreign workers?
To visit once is to know why. Bali is one of the most beautiful places in the world, with amazing beaches, delicious food, and warm people. And since 2008, when the US lifted its travel warnings, visitors have been flocking to Bali from the States. So much so that the real estate industry has skyrocketed, with luxury resorts and homes growing rapidly. In all, over 2,000 foreign workers are currently employed in this island of 4 million.
So, what are the benefits of expatriating to Bali?
- Bali is a multicultural wonderland, with visitors from Australia, China, Europe, and everything in between. You might meet 5 different nationalities in one afternoon at the beach before sundown.
- The weather and the beaches are an instant tonic. Bali feels like where humans should have always been, without a coat, or even shoes, eating delicious fruit and sipping on your favorite beverage.
- Cost of living – Bali is easily livable on a dollar-based salary, with rents starting as low as $150 a month, filling food for as low as a couple bucks, and luxury services like massages available at around 5 dollars. Taxis are around a dollar or two for just about anywhere you want to go.
- Job Opportunities – Aside from tourism, there are a lot of expats who have found their American Dream right here in Bali. Many an enterprising foreigner has become a successful entrepreneur, catering to the island’s growing foreign population. There are also many English teaching positions for those expats who are looking to stay, or people qualified in the restaurant and hotel industries, as these are booming once again.