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US expat fish: do any of you know what the consequences are of taking a non-USD denominated salary? Just got an offer to get paid in local, not USD. Beyond exchange risks, are there other concerns?

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I was paid in CNY in a past life, and the only real annoyance was adjusting significant transactions to USD using a floating exchange rate (when filing taxes). If the rate is pegged, I wouldn’t expect any challenges

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Additional info: the offer is in a local currency that’s pegged to USD, so risk of exchange rate fluctuation is limited to sovereign default, and the local country is very stable.

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Lose transaction fee for forex conversion if you intend on returning to the US (it's usually based on how much you transfer, either staggered or dollar for dollar), you miss out on pre-tax investment vehicles (eg 401K), and be careful about what the US would consider as income (for eg if you get subsidised housing, IRS could consider that subsidy as income and tax you accordingly). Re transfer fees - just browse your bank's website for the fee structure. It's all public. Also try to avoid Citibank if you can, and look into transferwise.

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BCG1, it’s actually $104K now (thank you, tax cuts!) AP1, Transferwise looks awesome...too bad they don’t take AED. Will definitely sign up for updates though. Overall, looks like I was worrying about nothing. My bank charges no fees on incoming wire transfers internationally and uses the current market rate for exchange. Since AED is USD pegged, I should be fine. I just need a low cost local bank and I’m good to go.

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Which country? I believe you still have to pay taxes on any income generated outside the US if you’re a citizen, correct?

UAE. No income tax, and AED is dollar pegged. I’m really wondering if banks typically charge a flat fee to convert currencies. I’d hate to have my bank skim half a percent off every dollar I send home.

Just don’t forget you still owe US taxes (if making above ~90k)

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