ccunning@lemmy.world to No Stupid Questions@lemmy.world · 5 months agoHow can a US citizen invest outside the reach of the federal government?message-squaremessage-square68fedilinkarrow-up11arrow-down10
arrow-up11arrow-down1message-squareHow can a US citizen invest outside the reach of the federal government?ccunning@lemmy.world to No Stupid Questions@lemmy.world · 5 months agomessage-square68fedilink
minus-squarestinky@redlemmy.comlinkfedilinkEnglisharrow-up0·5 months agoWhat about income earned in other countries? While living there? Lol
minus-squarejet@hackertalks.comlinkfedilinkEnglisharrow-up0·5 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.
minus-squareccunning@lemmy.worldOPlinkfedilinkarrow-up0·5 months agoThe US taxes it. There is a foreign earned income exclusion for the first $x though.
What about income earned in other countries? While living there? Lol
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.
The US taxes it. There is a foreign earned income exclusion for the first $x though.