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it is possible to deduct or exclude specific rental housing bills from your gross money even though dwelling abroad by claiming the international Housing Exclusion. No foreign tax credit on excludable money. If you end up picking to exclude overseas acquired earnings, You can't take a overseas tax credit history or deduction for taxes on money you
if you are a sole proprietor or maybe a companion actively linked to your business, you have to shell out both equally the worker and employer portions of Social Security and Medicare taxes. The present self-employment tax price in 2024 is fifteen.three% and is divided as follows: you should report your earnings on your own details return utiliz