Offered job with salary in a foreign currency

Yeah, so there are several issues. One is moving money isn't free. And most institutions take advantage of the fact that individual customers don't have a lot of choices so the fees involved in international FX really start adding up. Both in terms of fees and sub-par rates.

Outside the FX fees, who's paying the payroll taxes the employer pays? They no longer would have a US presence. Which means you would likely have pay them when you file your taxes.

There's also a liability shift towards you. You would likely want to pick Errors and Omissions Insurance as well as an Umbrella policy.

What about health insurance? Time to look at what you qualify for in the exchange and what those costs are.

It's likely that you have an extra 40-50% in expenses that are shifted to you. And frankly these days my opinion is that it really doesn't start making sense taking on those risks and expenses until you're closer to the 200K mark.

On the other side of this, you could talk to a CPA that have international experience. They make be able to suggest an offshore solution that would make sense. But I'm dubious it makes sense for those amounts of money.

/r/personalfinance Thread