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Varyk

Like traveling? No income taxes(up to 120k) if you live outside of the US more than 330 days a year. (www.irs.gov)

submitted 3 weeks ago* (last edited 3 weeks ago) by Varyk to c/lifehacks

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when tax time comes around, you fill out an IRS form called the FEIE, the Foreign Earned Income Exclusion.

Check the "physical presence test" box, fill out your total income for that year, then write down the dates that you were not in the United States and where you were.

10 minutes, one extra form, no income taxes.

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[–] Varyk 10 points 3 weeks ago* (last edited 3 weeks ago)

The FEIE is an official IRS tax procedure that has nothing to do with tax fraud.

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