4 ms·
My understanding, despite the fact I'm definitely not an accountant, was that making over $100K abroad meant you would be double taxed on all of it over that am
by gleenn 2y ago
My understanding, despite the fact I'm definitely not an accountant, was that making over $100K abroad meant you would be double taxed on all of it over that amount. I believe I heard many wealthy Americans abandoning their citizenship just due to this fact.
- lifeformed 2y agoYou get credit for the taxes you paid in the foreign country for the amount over that threshold.
- gamblor956 2y agoThat is definitely wrong. You are subject to a single level of tax on your personal income (in the US). But you might have to split it up between multiple jurisdictions if some of that income is earned in another country.