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Varyk@sh.itjust.works

Like traveling? No income taxes(up to 120k) if you live outside of the US more than 330 days a year. (www.irs.gov)

submitted 2 years ago* (last edited 2 years ago) by Varyk@sh.itjust.works to c/lifehacks@sh.itjust.works

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when tax time comes around, you fill out an IRS form called the FEIE, the Foreign Earned Income Exclusion.

Check the "physical presence test" box, fill out your total income for that year, then write down the dates that you were not in the United States and where you were.

10 minutes, one extra form, no income taxes.

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[–] RegalPotoo@lemmy.world 0 points 2 years ago (1 children)

Probably worth pointing out that the fact that the US claims any tax on income earned by its citizens overseas is very weird and not normal internationally

[–] Varyk@sh.itjust.works 1 points 2 years ago* (last edited 4 months ago)

ohet

[–] slazer2au@lemmy.world -1 points 2 years ago (2 children)

Ah tax fraud. The best of all frauds.

[–] sprack@lemmy.world 1 points 2 years ago

It’s not. That’s part of the filing process for expats.

[–] Varyk@sh.itjust.works 1 points 2 years ago* (last edited 2 years ago)

The FEIE is an official IRS tax procedure that has nothing to do with tax fraud.