![]() I was always under the impression that these were hard lines, meaning if I made (for 2022) 170,050 I. This year, with my raise and amount of overtime Ive been/will most likely work, I may get pushed into the 32 tax bracket. Tax authorities were initially flexible and short-term concessions became available though many have now lapsed. Ive been in the 24 tax bracket for the past few years (well before I started to pay attention to this kind of stuff). Additionally, employers recognised the opportunity to employ from anywhere, giving them access to a wider talent pool. Remote Working became a necessity in many sectors and as technology improved to support it, certain employees realised that they could do their work from anywhere. Income Tax If you work in the same state as your employer, your income tax situation probably wont change. Having an employee based overseas may result in the company being regarded as having a permanent establishment in the country in which the employee is. Some individuals on assignment became stranded in their host location, and many individuals scheduled to begin an assignment in a different jurisdiction did so virtually from their home location. To claim the FEIE, you should file Form 2555 along with your federal return. The FEIE allows Americans living abroad to exclude up to around 100,000 (the figure rises slightly each year) of foreign earned income from U.S. As regions began to lock down, many people became unable to return to their country of employment or locally to their normal place of work. Some individuals chose to leave their place of employment and returned to their home country to work and be with their families. Tax Tip 1 Consider claiming the Foreign Earned Income Exclusion (FEIE). The concept of working from anywhere started as an unintended consequence of the Covid-19 pandemic.
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