I’ll be cashing out my life insurance policy about 90k USD and having it sent to a bank here. I believe the 90k will be added to this years income for income tax purposes. So I should expect to pay a decent amount for this year. Is there anything on either side I am overlooking? Is it just simply added to my income for this year as I think it is? My regular salary here is not huge, maybe 3 to 4 million yen per year. Maybe 5-6 million yen income together with my wifes income How much of a beating should I expect? Thanks!
by Miso_Honi