@ccunning to No Stupid Questions • 6 days agoHow can a US citizen invest outside the reach of the federal government?message-square76arrow-up183arrow-down18
arrow-up175arrow-down1message-squareHow can a US citizen invest outside the reach of the federal government?@ccunning to No Stupid Questions • 6 days agomessage-square76
minus-square@[email protected]linkfedilinkEnglish2•6 days agoWhat about income earned in other countries? While living there? Lol
minus-square@ccunningOPlink5•6 days agoThe US taxes it. There is a foreign earned income exclusion for the first $x though.
minus-square@[email protected]linkfedilinkEnglish3•6 days 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? :)