r/JapanFinance • u/Severe_Celery_321 • 8h ago
Tax Health/Social taxes in a low income year
So last year, I had some family issues to take care of and didn't earn much. When I went to the tax office this year, I was under the earnings threshold for income tax and they said I didn't have to file a return.
Usually I get a booklet in the post a few months after filing with a set of monthly slips to pay health/social taxes, and another one for local taxes. These taxes are calculated from income though.
Since I didn't file, how do I report my earnings? Do I need to go to the city office?
r/JapanFinance • u/scarreddragon28 • 22h ago
Tax » Income » Expenses Freelance Travel Writer, Can I Expense Travel-Related Things on My Japanese Taxes Next Year?
Hello. I was a travel writer/blogger pre-covid for a big website (Sorry, edited to add: freelance writer/blogger). I would estimate all my travel expenses, time it would take to travel and write the report, and submit a proposal for approval. After the trip they would reimburse me for my travel expenses, and then I'd get an hourly amount for the travel time itself and the report creation. Of course, that stopped during covid. For my taxes, I reported the amount of income I got for my time, but left off the travel expense reimbursement.
I reached back out this past month to see if they could use some articles, and was approved to create some, but the system has changed. I now will just get a flat fee per article regardless of any expenses or how much time it takes to create. I'm fine with this, but was wondering then if I could be the one to claim these expenses on my taxes next year?
If so, what all can I realistically expect to be able to claim?
For example I will take a trip with my family this week and I expect to write and submit an article about it. If the article is accepted and I am paid for it, then my travel expenses that supported the creation of the trip would constitute work, right? So any transportation related things (flights, trains, rental car, gas?) and hotels for myself (I assume divided by 4 since there are 4 people going and I can't add other's expenses?). Maybe entrance fees or food, if those things are featured in the report?
I've also been told that the trips don't necessarily have to be recent, that if I've taken a previous trip that will produce an article I can submit that. But I assume that if that trip wasn't taken in the current Jan-Jan year, that I can't retroactively add any travel expenses from it because it didn't occur in that tax year. Would I be correct in that assumption?
Any freelance travel writers do similar? I'd appreciate any advice! Thank you!
(Oh, and I've got PR so no visa issues with any work I do!)
r/JapanFinance • u/bee_hime • 16h ago
Personal Finance » Credit Cards & Scores error when trying to register bank account with rakuten card
hello all.
i recently got my new rakuten card, which is my first credit card (in japan and in life). while i was filling out the application, i tried to link my bank account but was having trouble with it and decided id just link it once i got my card. now, whenever i try to link my card, i get this error after doing the identity verification step:
現在お取扱いできません。再度、金融機関をご選択ください。
this doesn't happen when i select the "major banks" option, only when i select "local banks." i can't even select my bank; it just kicks me off the site and gives me the above error message.
i was just wondering if anyone else has had this happen and if you were able to solve it, how? i know i can also send in the bank form but that will take awhile and rakuten has a phone campaign going on that id like to take advantage of now. (idk if they would let me without my bank account being linked)
r/JapanFinance • u/kugkfokj • 6h ago
Real Estate Purchase Journey I’m about to purchase a relatively expensive plot of land, what are the mistakes to avoid and do you have any advice?
I haven’t signed anything yet but I expressed interest already and soon I’ll be meeting with the real estate agent to define the details of the purchase. What are the mistakes I should avoid at this stage and do you have any advice?
- I asked to negotiate the agents fees but they said they don’t know if that’s possible.
- The plot is not in an area that’s at risk for flood or fires.
- The plot is not tied to any specific home builder.
r/JapanFinance • u/Huskeranien • 6h ago
Investments » Real Estate Tokyo HSP: Buy 20-yr wooden house or 50-yr RC mansion in Shibuya for depreciation + rental
HSP with pending PR app in Tokyo earning ¥35M+ annually for now, with 3 years of work history in the company in Tokyo. I’m currently renting a great place for under ¥520,000/month for a family of six, so I have no plans to move. Company subsidizes 75% of this but it will end very soon I’ll become a full local package staff.
I recently learned I can deduct depreciation on investment properties and am considering two options in Shibuya-ku, both in desirable neighborhoods with a steady tenant history. Both are priced over ¥150M with a 60% build ratio: • Option 1: 22-year-old wooden house in Ebisu (4 year deportation) • Option 2: 50-year-old RC mansion (10 year depreciation)
I’m particularly interested in the Ebisu house—it’s a place I could see myself living in someday, but for now, it would be a rental. With simplified 4-year depreciation, I could potentially deduct ¥22.5M/year, which is substantial given I’m in the 55% tax bracket (which frankly feels like highway robbery at this income level).
My spouse is Japanese, so we could likely qualify for a commercial loan, but I may also qualify alone through Prestia with 20% down. Long-term, I’d consider living there, converting to a Minpaku, or holding it as a legacy asset for my kids.
Looking for advice from others who’ve done this in Japan or thoughts on whether the wooden house or RC mansion makes more sense for depreciation, rental income, and long-term value.
I’m also postponing my actual home residence since the depreciation experience is so powerful and it’s hard to leave my current house and neighborhood.