Difference between revisions of "Offshore Business - Pay Low Tax"

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Revision as of 20:20, 11 November 2024

A credit is allowed for foreign income taxes paid or accrued. The money is limited to that particular part of You.S. tax due to foreign source income. It's not refundable, but any excess credit end up being the carried to other years to reduce tax.

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In addition, the exclusion is only one good thing that increased. The income level by which each tax bracket applies have also been increased for inflation.

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