Maximize Your Savings with the Foreign Tax Credit

Are you a US citizen or resident with income from foreign sources? Don't miss out on the foreign tax credit - learn how to maximize your savings in this informative video!

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▬▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬

00:00 Introduction
00:47 Form 1116
02:22 US Source Income
02:48 Non-Resident Aliens
03:26 Non-Resident Aliens
07:04 IRC Regulations
07:22 Source of Income
08:05 Gross Income
10:17 US Citizen Living Work
11:05 Conclusion

Do you have to file tax returns in the United States? Are you a US citizen or resident with income from foreign sources? Then you may be eligible for the foreign tax credit. This credit is based on the gross income from sources within the country and can be applied to interests, dividends, and personal services compensation. It cannot, however, be applied to income from US source income if the services are performed by a non-resident alien. The Internal Revenue Code also states that compensation for labor services performed in the United States is not considered income from sources within the United States if the services are performed by a non-resident alien. Learn more about the foreign tax credit and how to determine if it applies to your specific situation in this informative video.
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Видео Maximize Your Savings with the Foreign Tax Credit канала James Baker CPA