@ccunning@lemmy.world to No Stupid Questions@lemmy.world • 3 months agoHow can a US citizen invest outside the reach of the federal government?message-square73fedilinkarrow-up183arrow-down18
arrow-up175arrow-down1message-squareHow can a US citizen invest outside the reach of the federal government?@ccunning@lemmy.world to No Stupid Questions@lemmy.world • 3 months agomessage-square73fedilink
minus-square@stinky@redlemmy.comlinkfedilinkEnglish2•3 months agoWhat about income earned in other countries? While living there? Lol
minus-square@ccunning@lemmy.worldOPlinkfedilink5•3 months agoThe US taxes it. There is a foreign earned income exclusion for the first $x though.
minus-square@jet@hackertalks.comlinkfedilinkEnglish3•3 months 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? :)