DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Don't Forget Your FBAR

Don't Forget Your FBAR
Don't Forget Your FBAR
A detail that can cause lots of IRS problems

The Foreign Bank and Financial Report (FBAR) is a reporting requirement that is getting lots of attention from the IRS. Here is what you need to know.

Do you have any foreign bank accounts or assets held outside the United States?

Are you a beneficiary of, or a responsible party for someone else who has assets held in non-United States based accounts?

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Foreign Earned Income Exclusion

Foreign Earned Income Exclusion

Foreign Earned Income Exclusion

As a U.S. citizen or resident working abroad, you may be able to exclude from income all or a portion of your foreign earnings.

To claim the foreign earned income exclusion, your tax home (the general area of your main place of business, employment, or post of duty) must be in a foreign country throughout the period

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