Difference between revisions of "A Excellent Taxes - Part 1"

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Revision as of 11:14, 20 July 2025


A credit is allowed for foreign income taxes paid or accrued. The money is limited certain part of You.S. tax due to foreign source income. It is not refundable, but any excess credit become carried to other years to reduce tax.

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Julie's total exclusion is $94,079. On her American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. financial.

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Someone making $80,000 each is not really making substantially of money. The fed's 'take' is an excessive amount now. Income taxes originally started at 1% for extremely best rich. And these days the government is about to tax you more.

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