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re: tax question regarding foreign income exclusion
Posted on 3/26/15 at 9:14 pm to I Love Bama
Posted on 3/26/15 at 9:14 pm to I Love Bama
quote:
But still pays SS and Medicare tax correct? Any other taxes?
Yes, I still pay SS and Medicare tax. No other taxes that I know of. I pay state income tax because LA is my home base.
2
Posted on 3/28/15 at 12:13 pm to lsugradman
So LA is considered your tax home?
All my clients that have foreign earned income are considered residents of that particular country...so they pay Fed tax on any amounts above and beyond the exclusion and Foreign tax credit.
All my clients that have foreign earned income are considered residents of that particular country...so they pay Fed tax on any amounts above and beyond the exclusion and Foreign tax credit.
Posted on 3/28/15 at 1:01 pm to lsugradman
quote:
I pay state income tax because LA is my home base.
On the money above and beyond the foreign income exclusion? Or on all of it?
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