Originally Posted by
fdx727pilot
If you read the IRS publications, the tax on income over your exclusion is the same as if you had no exclusion, i.e. 33%, so your tax on $150K (+the $24K the company gave to pay HK taxes) is about 33% of 150+24-82.4 or about$30K. Not quite almost none, unless you have some monster deductions.
Until Price Waterhouse tells me I am wrong I refuse to accept that I would owe more
US taxes on:
My income + FDA benies - Income Exclusion (82.4k) - Housing Exclusion (40-80K)
then
Taxes on my income in memphis
Particularly in Hong Kong.
Of course the Tax Equalization data remains
SECRET NO Freight Dog