Скачать или смотреть 2024 Tax Benefits for Expats: Foreign Earned Income Exclusion & Foreign Tax Credit | Ask a CPA

In this episode of Ask a CPA, Brett Philips answers Sarah's question from Jacksonville, Florida: "I'm a U.S. citizen living abroad. How do I handle my taxes?"

If you're an American expat, understanding the tax benefits available to you is crucial. Today, we break down two major tax strategies that can help you: the Foreign Earned Income Exclusion (FEIE) and the Foreign Tax Credit (FTC). We’ll also cover the key tax forms you need to submit, like Form 2555 and Form 1116, so you can minimize your U.S. tax liability while living abroad.

Here’s what we’ll cover:

How to exclude up to $126,500 of foreign earned income using the FEIE.
How the Foreign Tax Credit works and when to use it.
Important tax forms you need to file as an expat, including Form 8938 and FBAR.

Living abroad doesn’t mean you’re off the hook with U.S. taxes, but with the right strategies, you can avoid double taxation. If you're an expat and have tax questions, drop them in the comments!

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Connect with Brett Philips, CPA
Website – http://www.pscdfw.com
E-mail – [email protected]
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