US citizens must pay income tax regardless of where they work. However, they can exclude up to $80,000 of foreign income by demonstrating they are a bona fide resident or physically present in a foreign country. This can be requested using Form 2555 or 2555-EZ. The source of income does not affect eligibility. A tax […]
Hidden taxes, such as tariffs and indirect charges, can be added to the price of goods without being clearly disclosed. Even taxes with another name, like “cargos” or environmental assessments, can be considered hidden. Imported goods are affected by consumer rights at the import point, and government or municipality service charges are also hidden charges. […]
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