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Tax Planning for U.S. Executives Living Abroad


US citizens and resident aliens living abroad must file a US tax return and, with several important exceptions, must use the same forms and must compute tax by referring to the same tax rules as their stateside counterparts. The main exception is special rules that allow taxpayers to exclude all or part of their foreign earned income if they meet foreign residence or physical presence abroad tests. While these provisions can allow significant tax benefits, it is important to remember that income earned abroad is frequently subject to foreign income taxes. In turn, credits or deductions for these foreign taxes provide a measure of US tax relief.

This book combines a general explanation of the rules with an analysis of the tax issues and decisions that need to be considered in preparing for, and during the course of, a foreign assignment. It is not intended to answer all questions but only to introduce you to the many issues facing US taxpayers living abroad. When specific advice is necessary or appropriate, consultation with a competent professional adviser is strongly recommended.

Deloitte professionals throughout the world are prepared to help US taxpayers abroad with their special US and foreign tax issues.

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