How To Handle With Tax Preparation: Difference between revisions
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Revision as of 09:50, 23 October 2024
There is much confusion about what constitutes foreign earned income with respect to the residency location, the location where the work or service is performed, and supply of the salary or fee payment. Foreign residency or extended periods abroad among the tax payer is a qualification to avoid double taxation.
A personal exemption reduces your taxable income so you find yourself paying lower taxes. You could be even luckier if the exemption brings you a new lower income tax bracket. For the year 2010 it is $3650 per person, equal to last year's amount. During 2008, was $3,500. It is indexed yearly for air pump.
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