In this episode, we discuss how to navigate foreign tax policy changes and how they can impact your US tax filing.
We begin with a high-level review of the Foreign Tax Credit (FTC), which we broke down in full in another episode here:
https://api.spreaker.com/v2/episodes/60883407/download.mp3.
As an example, we discuss a recent tax policy change in Switzerland which raised the deduction you are eligible to claim for your childcare expenses. While this change reduces your Swiss tax bill, it can lead to an unexpected tax bill when filing your US tax return, as your FTC amount is reduced.
Keeping updated on tax laws is important for everyone, especially expats! We provide some strategies for staying on top of tax law changes.
