Hello All,
What kind of set-up should we be looking at with paying bills here in the USA. We have several long term bills including student loans, credit cards, insurances, etc...
What should be the set-up with these items, as most are on auto withdrawel from accounts now. Can this maintain across the Pacific and be changed to local accounts?
Aftern we remove the auto withdrawel, what king of tax implecatons are we looking at as well?
I know this may be a simple answer, but we just started our search and figured the general public would know what to do.
Thank you!
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We use the US account. Charging individual payments to local accounts is not practical. Better to make larger transfers periodically. I would keep the auto-debits.
We use HSBC USA's Internet payments facility. They have a very clever setup. You just add the payee with contact info and your account number. If the payee can receive electronic payments that is used. If not, the HSBC system automatically prints a check and sends it to the address. I've even paid small debts to friends like this.
I don't think there are any real tax implications.
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We do a similar thing with Aus bills (as do thousands of other ex pats, I'm sure). We maintain a bank account in Aus which we top up with online transfers from our HSBC account here in HK. Then we pay (either auto debit or ad hoc) Aus bills online too. No tax implications on the method used as tax is based on income generally.
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