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Revision as of 22:40, 15 October 2024
Many small business owners start with a sole proprietorship to the costs of forming a corporation or LLC. This is usually a wise decision as statistics show that many small businesses lose money for the first several years.
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Julie's total exclusion is $94,079. To be with her American expat tax return she also gets declare a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. fiscal.
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