Hi, I moved to Japan in 2023, and I’m working on filing my 2023 US tax return. I would like to include accrued residence tax in my foreign tax credit total to offset US taxes, but I’m not sure how to accurately calculate my residence tax due for the year.
From what I’ve read, a decent approximation would be my total taxable wages less the standard 430,000 yen deduction multiplied by 10%. If this calculation differs from my actual residence tax bill, can I just true it up when I calculate my FTC for next year?
Are there any calculators or Excel workbooks that can help with a more accurate calculation (need to account for a mid-year raise, and, in 2024 sole proprietorship income)? Not sure if it matters, but my primary address is in Kanagawa.
Thanks in advance for any help!!
by mattyr428