Tax savings of up to $107,600 - Palma Financial

If you’re an American working abroad, here’s a great opportunity to save on taxes. The Foreign Earned Income Exclusion for 2022 could give you the necessary tax savings.

Exclude up to $112,200 of your foreign-earned income from U.S. Taxable Income with The Foreign Earned Income Exclusion.

And that could mean big savings for you on Tax Day.

U.S. taxpayers working abroad will have a larger foreign-earned income exclusion in 2022. It went from $108,700 for 2021 to $112,000 for 2022.

The standard ceiling on foreign housing exclusion also increased from $15,218 to $15,680 for 2022 (many high-cost locations around the world qualify for a significantly higher exclusion).

Schedule your free tax assessment today to ensure you take advantage of all the tax benefits available!

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