How Can Expat Tax Services Help You?
Online Taxman services come in handy when you spend a part of your business year abroad and don’t know what to do with filing taxes. Even though the United States believes in the concept of worldwide income and will tax you no matter where you earn, there are quite a few exclusions that can result in substantial expatriate tax returns.
Firms that deal with expat taxes can guide you about tax treaties and housing deductions. Let’s take a peek into these.
1. In case of tax treaties which are agreements between nations so that you can save on tax, you may be eligible to a tax credit in the United States if you have already paid in another country.
2. In case of housing, if you can show proof of permanent residence amounting to at least 330 days in a year that gives you exclusion from tax up to a certain limit.
Apart from these, there is also the foreign earned income exclusion benefit that can be availed. It means that you don’t have to pay tax for the same earning in two countries. This is managed mutually between the countries. These little things go a long way in helping you save tax.