Foreign earned income exclusions, so it’s time that we make a video talking specifically to the people who are U.S. citizens, BUT have decided to take a job outside of the country.
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When most people decide to take a job opportunity in another country, that job usually pays you a lot of money to do it. And of course, the more money you make, the more you are usually taxed, right?
Well no, there are actually foreign exclusions that can help you avoid paying taxes on certain things. So in this video, I want to talk about foreign income, foreign housing so that I can help those who are working out of the country or considering it.
Time Stamps for Foreign Earned Income Exclusion:
Intro (0:00)
Like & Subscribe (1:00)
What is Foreign Earned Income? (1:26)
What is the Foreign Earned Income Exclusion? (1:49)
What is Earned Income vs Unearned Income? (2:56)
What is NOT Foreign Earned Income (4:15)
Bona Fide Residence Test Explained (5:13)
Physical Presence Test Explained (6:48)
Foreign Earned Income Exclusion Example (8:15)
IRS Interactive Tax Assistant (9:37)
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live)