Today, I'm going to give you the top 5 rules for the foreign earned income exclusion if you're an American and a current or aspiring digital nomad or expatriate. You'll want to hear this. Music. Hey everyone, and welcome back. It's Christine from Gallivanting Gal Travel, and I am here today to tell you the top 5 rules you need to know if you want to legally avoid paying US taxes on your foreign earned income using the foreign earned income exclusion tax break. If you like the video, please be sure to subscribe for more helpful information for small businesses and travelers. Please note that this video is intended as a guide to help you determine if you likely qualify for the exclusion. If you decide you do qualify based on my information, you should next check out the resources in the description for additional details. And you can never go wrong with hiring a tax specialist to help you along the way. Ok, now that we have that out of the way, let's head over to my desk and get started. Tip number one: You must have foreign earned income. But what is that exactly? Foreign earned income is the money you receive for services you while you're located in a foreign country that's considered your tax home. Okay, sure, but now what's a tax home? A tax home is where your business is located, typically. But assuming you're a digital nomad and working over the Internet, your tax home is actually wherever you're living and doing your work. Be careful though because if you actually ever depart to the United States that you're not renting out and you're gonna be gone for just a year and then you're gonna move back, your tax home is likely still in the United States....
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Video instructions and help with filling out and completing Are Form 2350 Abroad
