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Old 06-25-2007, 02:41 AM
L K Williams
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Posts: n/a
Default Re: Foreign tax question

ickra <nickravo[at]gmail.com> wrote:

- quote -

> I get an exemption on foreign income I earn outside of the
> US up to $80,000 I believe, right? Well, what if I have to
> return to the states a couple times and wind up in the US
> like 45 or 60 days in the year. Is there a 14 or 30 day
> limit to how many days I can come back to the states and
> still remain an American abroad for tax purposes?


You can claim the foreign earned income exclusion under
either of two rules: the bona fide resident rule or the
physical presence rule.

If you are a bona fide resident of a foreign country for a
period that includes one full tax year, the number of days
in the US does not affect the eligibility for the exclusion.
It may affect the amount of exclusion but not the privilege
on taking it.

If you are not a bona fide resident, you can qualify by
being outside the US for 335 days during ANY 12 MONTH
PERIOD. That is 12 months from the starting date, NOT a
calendar year. If the 12 month period is not a calendar
year, you get a partial exclusion for each of the years
involved.

If you do not understand the rules, I suggest you seek
professional help from some one who does. As you have found
out, the rules appear simple but, in fact, application can
be quite complex.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
 
Old 06-25-2007, 02:41 AM
Arthur Kamlet
Guest
 
Posts: n/a
Default Re: Foreign tax question

nickra <nickravo[at]gmail.com> wrote:

- quote -

> I get an exemption on foreign income I earn outside of the
> US up to $80,000 I believe, right? Well, what if I have to
> return to the states a couple times and wind up in the US
> like 45 or 60 days in the year. Is there a 14 or 30 day
> limit to how many days I can come back to the states and
> still remain an American abroad for tax purposes?


You have to be in a foreign country for 330 days or more out
of a consecutive 365 day period.

--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 06-21-2007, 09:44 PM
nickra
Guest
 
Posts: n/a
Default Foreign tax question

I get an exemption on foreign income I earn outside of the
US up to $80,000 I believe, right? Well, what if I have to
return to the states a couple times and wind up in the US
like 45 or 60 days in the year. Is there a 14 or 30 day
limit to how many days I can come back to the states and
still remain an American abroad for tax purposes?

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
 

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