Foreign income received from a Switzerland company for consulting work in the amount of CHF 20k per year. Do I need to pay estimated taxes in Switzerland? Or just US?
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thendry7
New Member

Foreign income received from a Switzerland company for consulting work in the amount of CHF 20k per year. Do I need to pay estimated taxes in Switzerland? Or just US?

 
3 Replies
KarenJ
Intuit Alumni

Foreign income received from a Switzerland company for consulting work in the amount of CHF 20k per year. Do I need to pay estimated taxes in Switzerland? Or just US?

Are you living and working in Switzerland?
thendry7
New Member

Foreign income received from a Switzerland company for consulting work in the amount of CHF 20k per year. Do I need to pay estimated taxes in Switzerland? Or just US?

No I am living in Miami, I simply just provide financial consulting services abroad with maybe 1 or 2 trips to the company a year.
KarenJ
Intuit Alumni

Foreign income received from a Switzerland company for consulting work in the amount of CHF 20k per year. Do I need to pay estimated taxes in Switzerland? Or just US?

I don't know the tax rules for Switzerland so I do not know if you have a Swiss filing requirement.  Please see the attached link which contains information regarding individual taxation in Switzerland.

I would suggest you speak with someone with the Swiss company for a referral to a Swiss tax provider and you should be able to find out this information over the phone.

https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-switzerlandhighlights-2...

Yes, you need to pay US tax on your worldwide income.  If you do end up paying any Swiss tax, you can use foreign tax credit on your US tax return to help offset  tax on any Swiss business  (foreign) workdays on your trips overseas.
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