@[email protected] to No Stupid [email protected] • 1 month agoHow can a US citizen invest outside the reach of the federal government?message-square75fedilinkarrow-up182
arrow-up182message-squareHow can a US citizen invest outside the reach of the federal government?@[email protected] to No Stupid [email protected] • 1 month agomessage-square75fedilink
minus-square@[email protected]linkfedilinkEnglish2•1 month agoWhat about income earned in other countries? While living there? Lol
minus-square@[email protected]OPlinkfedilink5•1 month agoThe US taxes it. There is a foreign earned income exclusion for the first $x though.
minus-square@[email protected]linkfedilinkEnglish3•1 month agoYou owe federal tax on global income, but you can get a tax credit for local taxes paid on that income; So you pay max(US Federal, Foreign Local), but not the sum.
What about income earned in other countries? While living there? Lol
The US taxes it. There is a foreign earned income exclusion for the first $x though.
You owe federal tax on global income, but you can get a tax credit for local taxes paid on that income; So you pay max(US Federal, Foreign Local), but not the sum.
Unless it’s under what amount? :)