TaxTerms: The Basics (In Case You Need a Refresher)

MyExpatTaxes Help Center » TaxTerms: The Basics (In Case You Need a Refresher)
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What is the Bona Fide Residence Test?

Expats who pass the Bona Fide Residence Test are eligible for tax exclusions and benefits like: The Foreign Earned Income Exclusion The ...

What is the Foreign Tax Credit?

The FTC, or Foreign Tax Credit is an expat tax benefit that gives you a dollar-for-dollar reduction towards your foreign earned income. ...

Taxable Income

The end result of a quite complicated math equation (we handle this for you!) to understand how much of your gross income ...

Exemption

Like dinosaurs, these use to exist but no longer do in 2018! In 2017 and prior, you would get an additional "buffer" ...

Deduction

The IRS provides a standard deduction (i.e. up to that amount of gross income is tax-free) or you can itemize expenses to ...

Filing Status

Single self-explanatoryHead of Household you have a qualifying dependent and are not marriedOR you are married to a non U.S. citizen and ...

Filing Requirements

Filing requirements and thresholds depends on your age, type, level of your income, as well as your marital status. If you have ...

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