For 2018 the foreign earned income exclusion is $104,100. This applies to earned income from your work abroad and increases each year. Many IT, Tech, and Coding employees and self employed indivduals chose to live and work abroad to take advantage of his amazing tax break.
If you live in a no tax or low tax country, you may not have to pay any tax on this much of your earned income if you are a bonafide resident of your home country or meet the physical presence test of not going back to the US more than 35 days during any 12 month calendar or fiscal year period. Read more about this exclusion and how to qualify and the additional deduction you can receive for your rental expenses and living expenses abroad (housing exclusion) in publication 54 READ IT HERE
Kauffman Nelson LLP CPAs have done tax return exclusively for US Expatriates and US Nonresidents for over 20 years. We know the laws, and the recent changes implemented by the new tax laws enacted at the end of 2017. Email us at taxmeless@gmail.com and visit our website at www.taxmeless.com for lots of useful tax information and tax savings.
If you live in a no tax or low tax country, you may not have to pay any tax on this much of your earned income if you are a bonafide resident of your home country or meet the physical presence test of not going back to the US more than 35 days during any 12 month calendar or fiscal year period. Read more about this exclusion and how to qualify and the additional deduction you can receive for your rental expenses and living expenses abroad (housing exclusion) in publication 54 READ IT HERE
Kauffman Nelson LLP CPAs have done tax return exclusively for US Expatriates and US Nonresidents for over 20 years. We know the laws, and the recent changes implemented by the new tax laws enacted at the end of 2017. Email us at taxmeless@gmail.com and visit our website at www.taxmeless.com for lots of useful tax information and tax savings.
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