Thank you. Question. 1) If someone gets hired with an American company and gets hired in the US with a W-2, If they move and live in another country and live there consistently more than a year due to the fact that the job is an online job (remote work), can they qualify for foreign tax exclusion even though the company is in the US and they got hired in the US? 2) If we can generally apply for foreign tax exclusions after receiving your income through a W-2 system, what happens next if you get approved? Will they send you money back through a check? or this Foreign tax exclusion can only be done through a 1099?
👏🏾 Thank you for the simplicity of your videos. I dk I have a better understanding when you break down this knowledge than me reading it lol. Bless you and your Firm on helping me be better at what I do.
Thank you. Is this different than something else I’ve heard of which is I can, as an American citizen, live in a foreign country. In doing so, I’ve heard you can write off 55k per person or 110 per couple in income earned from USA earned income (working for us company while living abroad or self employed us income earned while living abroad). Is that a different tax program? I’m interested in tax credits for living abroad earning income via the US and not earning income from another country. Is there a different credit for that? Thanks!
Hello Sherman. Outstanding content. Well organized and easy to understand such intricate subjects. I stumbled upon your video about capital gains as I have an upcoming transaction needing some decisions made based upon those taxes. Again, sir, excellent work. Your latest subscriber, Todd
Hi Todd, I too have some decisions to make on deciding weather to tax my capital gains in the US or the country i currently live in. If you dont mind, can i ask you some questions if you've maybe figured them out already? thanks
QUESTION: Does spending time in a US territory like the Philippines qualify for the FEIE?--Technically, this is a separate country; but the form states "countries or possessions."
Hi, your video is very enlightening. My situation is a little different and I don't know what to do. I'm Brazilian but I currently live in the US and have a green card. However, I work in Brazil online (from the US), I receive my salary in an account in Brazil and I do my income tax return in Brazil. I worked there for the whole of 2021, but I only go there to visit when I'm on vacation. I don't know how to file my US income tax. Could you give me a light? Thank you!
What about being in a foreign country (meeting the presence test) and earning 1) RUclips income, and 2) FOREX trader. Are these excluded; or considered US based?
Are you supposed to write the full income amount in and then deduct the credit from your total somewhere else when you file your taxes, or do you just not have to file any income that is under the allowed amount?
im a US citizen with residents and living in nicaragua for 7 years. I am a photographer. i bring in about 30 to 40 k a year. would i qualify for foreign earned income exclusion?
I’m not even half way through the video and have to say this is very thorough. I worked in Kuwait and needed this info. Thank you!
Thank you. Question.
1) If someone gets hired with an American company and gets hired in the US with a W-2, If they move and live in another country and live there consistently more than a year due to the fact that the job is an online job (remote work), can they qualify for foreign tax exclusion even though the company is in the US and they got hired in the US? 2) If we can generally apply for foreign tax exclusions after receiving your income through a W-2 system, what happens next if you get approved? Will they send you money back through a check? or this Foreign tax exclusion can only be done through a 1099?
Marco - Did you get an answer to this question or find out another way?
👏🏾 Thank you for the simplicity of your videos. I dk I have a better understanding when you break down this knowledge than me reading it lol. Bless you and your Firm on helping me be better at what I do.
Educational video but I laughed when he pronounced "uninterrupted" and "uninterpreted" both times. Two very different words lol
😂💯Trying to get there at my pronunciation
Depends on what state you live in. CA, AL,PA,MA,NJ,HI. 330 days out of country does not apply to Hawaii correct?
Thank you. Is this different than something else I’ve heard of which is I can, as an American citizen, live in a foreign country. In doing so, I’ve heard you can write off 55k per person or 110 per couple in income earned from USA earned income (working for us company while living abroad or self employed us income earned while living abroad). Is that a different tax program? I’m interested in tax credits for living abroad earning income via the US and not earning income from another country. Is there a different credit for that? Thanks!
Thank you.
Great video, thank you!
Hello Sherman.
Outstanding content.
Well organized and easy to understand such intricate subjects.
I stumbled upon your video about capital gains as I have an upcoming transaction needing some decisions made based upon those taxes.
Again, sir, excellent work.
Your latest subscriber,
Todd
Awesome, thank you so much for sharing yur feedback Todd
Hi Todd, I too have some decisions to make on deciding weather to tax my capital gains in the US or the country i currently live in. If you dont mind, can i ask you some questions if you've maybe figured them out already? thanks
im a contractor living in Kuwait... Do you recommend putting exempt on my w-4?
QUESTION: Does spending time in a US territory like the Philippines qualify for the FEIE?--Technically, this is a separate country; but the form states "countries or possessions."
The Philippines is NOT a US territory.
What about stock trading?
If the company that pays me is based in the USA, and I qualify for the physical test/bonefide residency, can I file for the FEIE?
very good!
Thanks so much
Our pleasure!
Hi, your video is very enlightening. My situation is a little different and I don't know what to do. I'm Brazilian but I currently live in the US and have a green card. However, I work in Brazil online (from the US), I receive my salary in an account in Brazil and I do my income tax return in Brazil. I worked there for the whole of 2021, but I only go there to visit when I'm on vacation. I don't know how to file my US income tax. Could you give me a light? Thank you!
What about being in a foreign country (meeting the presence test) and earning 1) RUclips income, and 2) FOREX trader. Are these excluded; or considered US based?
Are you supposed to write the full income amount in and then deduct the credit from your total somewhere else when you file your taxes, or do you just not have to file any income that is under the allowed amount?
What about remote workers?
Income Earned from US Employment with US Employer but Worked Remotely from Abroad 365 days a tax year so still qualify for FEIE ?..
Can it be prorated? Let’s say I’m out of country for 6 months
Gambling is passive income?
im a US citizen with residents and living in nicaragua for 7 years. I am a photographer. i bring in about 30 to 40 k a year. would i qualify for foreign earned income exclusion?
Hello what if I live in the US but am employed by a company in Hong Kong? Does that count for this?
Following this thread
Don't tell people you want to maximize their tax liability! lol