How to Use the Foreign Tax Credit to Reduce Your US Tax Bill

Explore how the Foreign Tax Credit can significantly reduce tax liabilities for U.S. expats living abroad. Discover the different categories of eligible foreign taxes and the complexities of the reporting process with Form 1116. Learn about the interplay between the Foreign Earned Income Exclusion and the Foreign Tax Credit, plus the importance of tax treaties to avoid double taxation. This insightful discussion encourages seeking professional advice to navigate the labyrinth of international tax strategies.