Quote: (08-30-2011 06:15 PM)oldnemesis Wrote:
Quote: (08-30-2011 10:28 AM)Roosh Wrote:
I started using an accountant last year. We discussed the exclusion for2011. It's a little complicated with me since I'm earning money from the US, but I think I will still qualify.
How do you qualify your earnings? According to my accountant you cannot exclude the amount of money your business earned in the US serving the US customers, but you can exclude the amount your business earned serving foreign customers. See IRS Publication 54.
We are talking about person income, not what your business is making.
Foreign earned income generally is income you receive for services you perform during a period in which you meet both of the following requirements.
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Your tax home is in a foreign country.
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You meet either the bona fide residence test or the physical presence test.