Thanks for the video, why is the FTC beneficial if forein tax rates are low? (i would think it is beneficial if they are high) Wish you had gone a bit more in detail and presented an example of how the FTC is used. Thanks for the video
If I'm living in Colombia (where I'm required to pay taxes for being a resident), working remotely from the US and my only income is from the US, can I use that tax paid to colombia as a credit? Or does it not count because the income is not foreign-earned, it's all US earned.
Hey ,Himanshu here 🙌🏻 I am a video editor and i have been editing videos for youtubers and influencers.. I have started few months back and have experience of more than 1year..i just saw your reels few weeks ago and i want to be part of your media team as an video editor. I will contribute my 100% towards your content and give you the best output.
You don't need to itemize. Every dollar of FTC reduces your tax bill to the U.S. on a $1 for $1 basis. For example, if you do your taxes and you owe the U.S. $500 in taxes and you paid another country $300 in taxes, you can use the FTC to reduce your tax bill to $200 in U.S. taxes if you elect to use the FTC instead of the FEIE (foreign earned income exclusion).
The irs is so full of themselves taking my hard earned money even tho I’m in another country I’m currently living in Japan as an English teacher and I have to pay taxes just to find out I still have to pay taxes to the irs wtf is going on I can’t wait to renounce my citizenship in the U.S. I moved to escape taxes and the corrupt government and yet they still find a way and even when I do come to a time when I wanna renounce it’s gonna cost me well over 2k this some bull
![15 Individual Tax Strategies to Avoid W2 Taxes [100% Legal]](http://i.ytimg.com/vi/nIxn2HqUffI/mqdefault.jpg)
GOOD PRESENTATION
Thank you for your information
If i america but live in mexico and only do stock and crypto what i can do to get benefits
Thanks for the video, why is the FTC beneficial if forein tax rates are low? (i would think it is beneficial if they are high)
Wish you had gone a bit more in detail and presented an example of how the FTC is used.
Thanks for the video
Thank you.
Nice presentation, are there certain forms you guys can recommend?
Nice explanation. Thank you.
Glad you liked it
If I'm living in Colombia (where I'm required to pay taxes for being a resident), working remotely from the US and my only income is from the US, can I use that tax paid to colombia as a credit? Or does it not count because the income is not foreign-earned, it's all US earned.
Have you figured this out yet? I'm facing something similar. Thanks!
I have the same question
what about for freelancers, such as English teachers?
Great Content!
Thanks Marco! Are you someone who works in another country?
Hey ,Himanshu here 🙌🏻 I am a video editor and i have been editing videos for youtubers and influencers.. I have started few months back and have experience of more than 1year..i just saw your reels few weeks ago and i want to be part of your media team as an video editor. I will contribute my 100% towards your content and give you the best output.
Do I have to itemize my deductions or can I get the Foreign tax credit if I take the standard deduction as well?
You don't need to itemize. Every dollar of FTC reduces your tax bill to the U.S. on a $1 for $1 basis. For example, if you do your taxes and you owe the U.S. $500 in taxes and you paid another country $300 in taxes, you can use the FTC to reduce your tax bill to $200 in U.S. taxes if you elect to use the FTC instead of the FEIE (foreign earned income exclusion).
The irs is so full of themselves taking my hard earned money even tho I’m in another country I’m currently living in Japan as an English teacher and I have to pay taxes just to find out I still have to pay taxes to the irs wtf is going on I can’t wait to renounce my citizenship in the U.S. I moved to escape taxes and the corrupt government and yet they still find a way and even when I do come to a time when I wanna renounce it’s gonna cost me well over 2k this some bull
Damn dawg u really dedicated to Japan if you're gonna renounce your US citizenship. Do you at least know somewhat fluent Japanese?
I'm planning to leave to S Korea as an ESL teacher as well. Thanks for the heads up.
@@chikipichi5280 I’m flumes in Japanese Korean and English
I work for a US company, and have an s-corp, but work remote on a tourist visa staying outside of the USA for 330+ days. Do I qualify for FEIE?
If you're staying on a tourist visa then you aren't required to pay taxes to the country you're living in correct?
So if I were to have a foreign investment such as a school in a different country could I receive a credit for that?
So if I sell real estate in Mexico I could receive tax credit?