Foreign Earned Income Exclusion

US taxpayers living overseas can utilize the Foreign Earned Income Exclusion provided for by section 911 of the Internal Revenue Code. This webinar will cover the foreign earned income exclusion, including tax home, bona fide residence test, physical presence test, and the foreign housing exclusion/deduction. We will also address possible extensions of time to file a tax return for a US taxpayer living overseas as well as an extension of time to pay taxes due. We will look at the interaction of the Foreign Earned Income Exclusion with other income tax provisions including self-employment and contributions to retirement plans.

• Determine what is foreign earned income (and what isn’t)
• Learn about tax home 
• Understand the requirements of the bona fide residence test
• Understand the requirements of the physical presence test
• Learn which test to use to qualify for the foreign earned income exclusion
• Understand foreign housing costs and how to exclude or deduct them
• Learn how to make a valid election to choose the Foreign Earned Income Exclusion and when you may be prevented from making the election
• Understand special filing extensions available 
• Understand the effect of self-employment on the Foreign Earned Income Exclusion

• Tax home
• Bonafide residence test/physical presence test
• Foreign housing costs 
• Foreign earned income exclusion election
• Extension of time to file/extension of time to pay
• Foreign self -employment 

When you attend this webinar, you will receive detailed instruction on how the Foreign Earned Income Exclusion can be utilized and some of the pitfalls to avoid. There will be detailed examples of relevant calculations and you will obtain an understanding of the considerations which go into choosing to elect to use the exclusion.

• CPA
• Tax attorneys
• Enrolled agents
• International executives
• Tax advisers
• HR professionals
• Global mobility experts

Working with Expats, like myself, I’ve found that we are not most advisers typical clients. Most clients do not have multi-currency requirements, family in foreign jurisdictions, little to no experience with U.S. taxation (and reporting requirements), or a need to consider international schooling or maintaining foreign assets. While our planning needs are similar, education, large purchases, retirement, tax planning, our road to achieving these goals can be very different. Feel free to contact me and we’ll see if we can work together to achieve your goals. We are happy working with international advisers and have a network of advisers if you need a specialist in an area we don’t cover directly.

Hibernian Financial Planning, LLC., was founded to meet the needs of the many expats living here in the U.S. who are tired of conflicted financial advisors with hundreds of clients and who can’t take the time to understand their unique situation. Additionally, in full compliance with the local law in their country of residence, Hibernian Financial is proud to serve U.S. taxpayers living outside of the U.S. Many Expats have rich complex lives and need someone who understands that complexity and can help them figure out how to best navigate a complex and foreign financial system, Hibernian Financial is that firm.

With over 25 years of serving individuals, couples and families from all over the world are helping U.S. taxpayers to manage their complex global affairs. I hope we can meet to discuss your needs and how I can best help you. Please feel free to contact me if you have any questions. I’m always happy to meet new people and learn about their situation. We can meet in person or via video call from wherever you are.