Many employees spend the bulk of their working lives trying to become a partner of the business to which they’ve devoted so much of their time and effort. Employees are typically rewarded for their hard work and dedication, while partnerships offer the chance to retain a highly-prized asset. An employee typically gets a W-2 and files an annual tax return. More
Making mistakes when filing your taxes could come at a big
cost. You could end up paying more in
taxes than you need to if you are taxed on income that you should not have paid
taxes on. Alternatively, if you underreport your income or fail to file your taxes,
you could find yourself faced with penalties and late charges. The good news is: Tax errors can be avoided. More
Living and working abroad may be appealing to many people and even has advantages from a tax
standpoint. In fact, familarizing yourself with the foreign
earned income tax exclusion (FEIE) can be helpful when living in another country. FEIE BasicsIn general, US citizens are subject to federal income
tax on their worldwide income. More
