Helpfulbox Now Offers Free POS Software for restaurants, kiosk, and any other retails business completely free used windows cashier system or as full blown POS. You will able to print to kitchen, display orders on the kitchen screen, manage inventory, employee, report, customer loyalty offers, employee management, delivery address track and much more, al for free.

Working out of USA and taxes I understand that if I work 330 days out of 365 in a foreign country there is like $91k or $97k of my salary that would be tax free. If I make say, $130k, would that mean I am liable for ~$40k of taxable income? I have been told that once you make more than the ~$91k than you are taxed on all of it.

By: Guest
Date: Unknown--
Response
0
Yes

You would report all of your income and then exclude the $91,500. There are other matters to consider, so you should have a CPA do this for you. What you save in taxes is well worth the fees.

[d] By: Guest
Date: unknown---
Response
0
Foreign Earned Income Exclusion

You will only pay tax on the excess income after the foreign exclusion is applied; however, you may qualify for more that the $91,500 if you have qualified housing expenses as well, up to a limit established by the fed govt based on your foreign location.

You do not need a CPA to prepare this tax return, but you do need someone with very good knowledge of the foreign exclusion requirements; CPAs do not always have that experience, nor do entry level people who work at the "Box" franchises. Ask questions of whoever you choose to prepare your taxes, and don't hesitate to say No thanks if their answers don't meet your expectations.

Reference IRS Pub 54; the terminology may be a little daunting, but do read it to make sure you understand the requirements.

[d] By: Guest
Date: unknown---
Response
0
The limit is 92,900 this year

I admit it's a tangential answer but it may be useful anyway.

[d] By: Guest
Date: unknown---
Response
What is 1 + 100



Helpfulbox Now Offers Free POS Software

for restaurants, kiosk, and any other retails business completely free. It can be used as windows cashier system or as full blown POS. You will able to print to kitchen, display orders on the kitchen screen, manage inventory, employee, report, customer loyalty offers, employee management, delivery address track and much more, all for free.

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