If I sold a property and paid capital Gaines tax in a foreign country, do I need to pay the irs additional taxes ? Hoping to purchase a house in cash in Tennessee with proceeds
What if you're overseas all year in different countries, and make money online as an independent contractor...If you take the maximum FEIE, do you still pay social security & medicare taxes on the FEIE amount, or only the amount over the FEIE maximum??
If you are a U.S. person and are living abroad as a self-employed individual, then you can claim the FEIE but will still owe the self-employment taxes. Depending upon the country you live and pay taxes, you might qualify for exemption under a Social Security Totalization Agreement.
Does the minimum gross annual earnings provided on the IRS website also apply to foreign earned income? I’m under 65, married with children and live abroad. However I don’t earn more than $25,000 per year in foreign income and am unsure if I need to file
So if I work for an american company, remotely from brazil for an entire year - from each paycheck from a salaried job i get money deducted for taxes - do I get all that money back when I file at the end of the year with the foreign income exclusion?
it is difficult to answer this in the abstract without knowing your full facts and circumstances. If you are a U.S. citizen and you live and work abroad for a U.S company, you are still subject to withholding taxes. If you are a non U.S. person and you work for a U.S. company, you won't be subject to those withholding taxes, so long as you live and work outside of the U.S.A. Taxpayers should review IRS Form 673 & IRS Form 8233.
can you still qualify for FEIE if you work for a US company but just physically live overseas for more than 330 days. for example living in mexico working remotely for your US employer?
Yes, you can still claim the FEIE exemption if you work for a U.S. employer. Many persons living abroad will also complete an IRS Form 673 and provide it to their employer in anticipation of qualifying for the FEIE.
U.S. citizens are always U.S. tax residents regardless of where they live and work. If you're an American working abroad, you still report and pay taxes on your foreign earned income. You may be eligible for the foreign earned income exclusion (IRS Form 2555) or be able to claim foreign tax credits for any income taxes paid in foreign countries. This provides Americans some relief from double taxation.
I have a question, If I have rental properties in another country do I still have to pay taxes on the amount I receive monthly? And if so do I qualify for any tax relief? Thanks
Hello, thanks a lot for the video. Quick question: what if you wrote a book published, used, marketed in another country. The revenue is in that country and never makes it to the US, is it required to report in US 1040? Secondly, do you have tovpay US tax on it if the money realized is never used in the US?
Hi! And thank u for making this simpler to understand.but I'm still stuck. How do you covert the UK income to US dollars. And should I use the schedule b form if the income is less than $100.000 and the taxpayer only lived in the UK less than 30 days😢😢
How do I report UK Govt. Pension and rental income to IRS
If I sold a property and paid capital Gaines tax in a foreign country, do I need to pay the irs additional taxes ? Hoping to purchase a house in cash in Tennessee with proceeds
Foreign self employment income from a foreign country.. how do I report that
What if you're overseas all year in different countries, and make money online as an independent contractor...If you take the maximum FEIE, do you still pay social security & medicare taxes on the FEIE amount, or only the amount over the FEIE maximum??
If you are a U.S. person and are living abroad as a self-employed individual, then you can claim the FEIE but will still owe the self-employment taxes. Depending upon the country you live and pay taxes, you might qualify for exemption under a Social Security Totalization Agreement.
Does the minimum gross annual earnings provided on the IRS website also apply to foreign earned income? I’m under 65, married with children and live abroad. However I don’t earn more than $25,000 per year in foreign income and am unsure if I need to file
where to add this income on the form?
So if I work for an american company, remotely from brazil for an entire year - from each paycheck from a salaried job i get money deducted for taxes - do I get all that money back when I file at the end of the year with the foreign income exclusion?
I have the same question 100%
Can we contact to help each other? I have same situation
it is difficult to answer this in the abstract without knowing your full facts and circumstances. If you are a U.S. citizen and you live and work abroad for a U.S company, you are still subject to withholding taxes. If you are a non U.S. person and you work for a U.S. company, you won't be subject to those withholding taxes, so long as you live and work outside of the U.S.A.
Taxpayers should review IRS Form 673 & IRS Form 8233.
What if you own a llc in another country? You still pay?
You are legit!!! Thank you for a clear to the point explanation.
can you still qualify for FEIE if you work for a US company but just physically live overseas for more than 330 days. for example living in mexico working remotely for your US employer?
Yes, you can still claim the FEIE exemption if you work for a U.S. employer. Many persons living abroad will also complete an IRS Form 673 and provide it to their employer in anticipation of qualifying for the FEIE.
@@JasonDKnott Thank you very much for the reply I greatly appreciate it
What if you work abroad for a non American company (Denmark to be specific), but you are a U.S. citizen? Do you still pay?
U.S. citizens are always U.S. tax residents regardless of where they live and work. If you're an American working abroad, you still report and pay taxes on your foreign earned income. You may be eligible for the foreign earned income exclusion (IRS Form 2555) or be able to claim foreign tax credits for any income taxes paid in foreign countries. This provides Americans some relief from double taxation.
I have a question, If I have rental properties in another country do I still have to pay taxes on the amount I receive monthly? And if so do I qualify for any tax relief? Thanks
Hello, thanks a lot for the video.
Quick question: what if you wrote a book published, used, marketed in another country. The revenue is in that country and never makes it to the US, is it required to report in US 1040? Secondly, do you have tovpay US tax on it if the money realized is never used in the US?
Hi! And thank u for making this simpler to understand.but I'm still stuck. How do you covert the UK income to US dollars. And should I use the schedule b form if the income is less than $100.000 and the taxpayer only lived in the UK less than 30 days😢😢
Okay thank you
I Don’t think so. Wrong information ‼️‼️