Foreign Housing Exclusion
For American expats, the experience of living and working abroad comes with various financial considerations, including taxes. One such consideration is the Foreign Housing Exclusion (FHE), a provision in the United States tax code that relieves expats who incur housing expenses while residing in a foreign country. We have listed below the key aspects of […]
Foreign Earned Income Exclusion
What is Foreign Earned Income Exclusion? Foreign Earned Income Exclusion (FEIE) is a tax benefit designed to alleviate the double taxation burden faced by US citizens and residents earning income abroad. Double taxation occurs when an individual is subject to taxes in both their home country (the United States) and the country where they earn […]
Who can use Form 2555-ez?
When can I use Form 2555-ez? The Foreign Earned Income Exclusion allows taxpayers to exclude their foreign earned income up to $120,000 in 2023. In order to use the Foreign Earned Income Exclusion, the taxpayer must file Form 2555 or Form 2555-EZ along with Form 1040, the year end tax return. Form 2555 is a […]
