We are a professional tax firm specializing in tax matters, solutions, tax planning and IRS representation for Expatriates, FBAR and US Citizens Citizens Living Abroad.
The scope of of practice is worldwide.
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS agents and managers.
We have over 206 years of professional tax experience and over 60 years of direct work experience at the IRS.
You can call us for a no cost professional consult and speak directly to a tax professional. 1-866-700-1040.
We can file all tax returns, prepare any past due or unfiled tax returns and if necessary work out a tax settlement if you cannot pay the IRS.
As Former IRS Instructors we taught Tax Law at the IRS.
Tax Tips:
Foreign Earned Income Exclusion
If your Tax Home is in a foreign country and you meet the bona fide residence test or the physical presence test, you can choose to exclude from your income a limited amount of your foreign earned income.
Should you choose to exclude from your income a foreign housing amount. If you choose to exclude a foreign housing amount, you must figure the foreign housing exclusion before you figure the foreign earned income exclusion.
Your foreign earned income exclusion is limited to your foreign earned income minus your foreign housing exclusion.
If you choose to exclude foreign earned income, you cannot deduct, exclude, or claim a credit for any item that can be allocated to or charged against the excluded amounts.
This includes any expenses, losses, and other normally deductible items allocable to the excluded income.
Limits on Excludable Amount per IRS Code.
You may be able to exclude up to $92,900 of your foreign earned income in 2011.
You cannot exclude more than the smaller of:
$92,900, or
Your foreign earned income (discussed earlier) for the tax year minus your foreign housing exclusion (discussed later).
If both you and your spouse work abroad and each of you meets either the bona fide residence test or the physical presence test, you can each choose the foreign earned income exclusion.
You do not both need to meet the same test. Together, you and your spouse can exclude as much as $185,800.
Paid in year following work.
You are considered to have earned income in the year in which you do the work for which you receive the income, even if you work in one year but are not paid until the following year.
If you report your income on a cash basis, you report the income on your return for the year you receive it. If you work one year, but are not paid for that work until the next year, the amount you can exclude in the year you are paid is the amount you could have excluded in the year you did the work if you had been paid in that year.
There are exceptions to some of these rules and for further details as to how they apply, call us for a no cost tax consult. 1-866-700-1040.
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