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Do you typically have any US tax obligation while you live abroad. That is, are you a US resident or citizen?
If you are not a US resident or citizen, then you cannot simply file a tax return in order to gain social security credits
If you are already a resident or citizen, then you will simply mark your self employed income on schedule C. Your self employment taxes that you pay on your return are actually social security payments.
So, basically if you are not a US resident or citizen you can't file a return to get credits. You would have to move to the US or become a resident (or stay there 183 days in a year).
If you are, all you have to do is file schedule C with your self employed income and expenses
Do you have any further questions about this?
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I'm a US citizen. I've read about form 1040-SE. However, according to what I've read, my earnings will no longer include the tax credit applicable to form 2555 for foreign earned income. is this correct, or have I misunderstood the IRS? If all I need to do is file schedule C, then with which form do I submit said schedule (1040, 1040-Se or 2555)?
Thanks for your follow up. It is true if you claim self employed, you would not be able to include the tax credit on form 2555. You can have one or the other - the ss credits or the credit, but not both. You will submit form 1040 with schedules C and SE to claim the tax
Thank you, XXXXX XXXXX much. I'm finally oriented as to this matter.
One other question: When and where do I pay my taxes due?
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You have to pay your taxes on form 1040 by April 15 - you will send your return and payment, if applicable -to the address listed in the instructions to the 1040