U.S. Taxation of U.S. Citizens Working Abroad

Attendees of the "US Taxation of US citizens working abroad" session will learn about the general concepts of U.S. taxation versus that of other countries worldwide specifically as pertains to tax residence, and ways in which U.S. persons living and working outside the U.S. can minimize their U.S. taxation. In this presentation, Accountant Marc Strohl specifically discusses the Foreign Earned Income Exclusion, Housing Exclusion and Deduction all found on Form 2555 and the Foreign Tax Credit found on Form 1116.  Mr. Strohl begins by discussing exactly what 'foreign', and 'earned income' mean in relation to the exclusion. He discusses who qualifies to elect to claim the exclusions, why certain tests are preferred over other tests under certain circumstances, debunk the housing exclusion and deduction discussing who may claim it and how it is calculated and finally how the exclusions and the foreign tax credit mechanisms interplay.  Finally, Mr. Strohl explores other interesting facts surrounding the above topics, including U.S. income tax treaties, U.S. Totalization and Social Security treaties.

Learning Objectives:

I.  Know the U.S Expat Options

II.  Recognize who qualifies for FEIE

III.  Comprehend the Tests for Residency

IV.  Understand Exclusions and Deductions

Instructional Method: Self-Study

Review Date: 8/21/13

Required Components: Video and Written Materials

CPE Final Exam Required Passage Grade: 70%

Please Note: This course must be completed within 1 year of date of receipt of this course for CPE credit.