Difference between revisions of "A Very Good Taxes - Part 1"

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Julie's total exclusion is $94,079. On her behalf American expat tax return she also gets declare a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. tax.

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Structured Entity Tax Credit - The irs is attacking an inventive scheme involving state conservation tax attributes. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually spent and a K-1 is distributed to the partners who then go ahead and take credits at their personal refund. The IRS is arguing that there is not any legitimate business purpose for that partnership, so that the strategy fraudulent.

For example: hire a marketing person along with the salary is deductible. 100%. The effort and performance of the marketing person should generate an increase in revenues that exceed charge of the person. If not, you notice the wrong person on your T.E.A.M. Remember, any marketing investment should deliver money on your investment.

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