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Your client would prepare a full year return - and claim the foreign earned income exclusion on the income that he earned in Brazil
Therefore, they would only be paying tax on the income earned in the uS
There is a limit on the foreign earned income exclusion
It's $97,600 (limit on foreign earned income exclusion)
Ok is there a tax form associated with claiming the foreign earned income exclusion?
Yes, it is form 2555
I have a Brazil tax return from the client but the numbers are in Brazil currency?
Do I have to do a conversion/exchange? Doesn't seem to be an exact measure because the exchange rate changes constantly.
Yes, you will convert the earnings to USD at the rate at the end of the year
I thought we completed this conversation but I got this email?
No problem. I did have one more question though...What if I wanted to contact you directly for a question; can I do that through the Just answer?
Awesome I will keep this mind for my next question. I really like your prompt response and your knowledge of the the industry.
Until next time......