Foreign Tax Credit and Exclusion for U.S. Expats On-Demand Webinar
As taxpayers increasingly live and work abroad, there is more opportunity for double taxation as U.S. taxpayers are taxed on their worldwide income. There are tax advantages available to mitigate this risk, which we will review in this webinar. You’ll learn to properly and accurately complete Form 2555, Foreign Earned Income, to exclude foreign earned income and Form 1116, Foreign Tax Credit, to calculate the foreign tax credit.
Upon completion of this course, you will be able to:
- Recognize if a taxpayer qualifies for the foreign earned income exclusion and the foreign housing deduction or exclusion.
- Recognize if a taxpayer qualifies for the foreign tax credit or deduction.
- Identify social security issues and self-employment issues related to working abroad.
- Analyze Form 2555 to determine the appropriate foreign income exclusion for the taxpayer.
- Evaluate Form 1116 to determine the appropriate foreign tax credit for the taxpayer.
This webinar includes the presentation slides, exam questions, live webinar recording with review questions, and Attendee Top Questions. CPE is issued after exam is successfully completed.
Betty Stehman, CPA, CIA