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Revision as of 13:42, 21 September 2024

After all the festivities, laughter, and gift giving in the holidays, giggles and grins quickly meld into groans and glowers as Taxes Preparation Season rears its ugly sight. From January 15th until April 15th, Americans fuss and fume about our rising income taxes. Nevertheless, in an odd sort of way, some must enjoy the gloom since they will file for an extension, prolonging the agony of the inevitable.

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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. taxing.

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The increased foreign earned income exclusion, increased income tax bracket income levels, and continuation of Bush era lower tax rates are excellent news for all American expats. Tax rules for expats are very confusing. Get the specialist you need to file your return correctly and minimize your Ough.S. tax.

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