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The Expat Money Show - With Mikkel Thorup cover image

184: Your Offshore Escape Plan: Securing True Freedom

The Expat Money Show - With Mikkel Thorup

NOTE

Foreign Earned Income Exclusion for US Citizens

The US is one of the few countries in the world that taxes based on citizenship rather than residency. US citizens can utilize the Foreign Earned Income Exclusion (FEIE) by spending approximately 330 days in a foreign country to shelter around $110,000 of earned income from taxes. The income must be earned, not from interest or capital gains, and individuals must meet either the physical presence test or bona fide residency test to qualify for this tax strategy.

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