Quote:
Originally Posted by DWB
Foreign Earned Income Credit gives you a 90K tax break if you live and work abroad plus you get deductions.
It is very easy to pay almost no taxes while living and working abroad, unless you're making crazy money. If someone made less than the Foreign Earned Income Credit limit, you would actually pay zero taxes, legally. Also, no state tax.
There is simply no reason to give the US government any more money than you have to.
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I did forget about the foreign credit.. If you're a single person or an older retired couple, 90k a year or less, is a good deal of money. But that would mean we are taking a pay cut, prob me not working at all, the gain in tax benefits wouldn't out weight the loss in income, until one us is ready to relax work wise.
One of these days we'll head out, as long as it's to a warm place this time!