mnealtx 0 #51 August 1, 2011 QuoteQuoteQuoteQuoteGov't employees (GS) and military are tax-exempt in war zones. All others can exempt up to a certain amount as foreign earned income. The tax rate is the same as if the exemption does not exist. The exemption does not drop the person into a lower tax bracket. I was referring to non-war zones. Civilians in non-war zones are exempt for the first 90-something grand; however, military must still pay taxes on that 90-something grand. Say there's 2 people, same income of 90k. One of them is military and the other is a civilian (lets say a contractor) and are both working in London on the same project or contract. The military dude pays taxes, the civilian guy does not. Military and Gov't pay are not considered foreign earned income. You're missing the point I'm trying to make. U.S. contractors on U.S. projects/contracts working for U.S. companies can exempt that 90-or-so grand. Their income earned is no more foreign that that of the military. I'm familiar with the status of military/gov't income not being "foreign". If you're that familiar with it, then you realize that whether the money originates with the government, whether the contract is with the government, or whether the company is based in the US is immaterial to the discussion of the exclusion...so why do you keep bringing it up?Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
lost_n_confuzd 0 #52 August 1, 2011 Quote ...so why do you keep bringing it up? Someone posted something along the lines that Americans in France, Bahamas and other places still have to pay taxes on the first whatever grand, which is not always the case. Just pointing out a myth. Then we've been replying to each other since that....so why do you keep at it? No need to answer that... On a more serious note, I just found out that I'll be getting a large tax exemption on all the stuff I donated to the Salvation Army (shoes, jeans, furniture). Every bit helps Quote Share this post Link to post Share on other sites
mnealtx 0 #53 August 1, 2011 Quote On a more serious note, I just found out that I'll be getting a large tax exemption on all the stuff I donated to the Salvation Army (shoes, jeans, furniture). Every bit helps Good deal.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
freethefly 6 #54 August 2, 2011 QuoteQuoteIt is insane that a company that makes such a huge amount of money pays less (24.4%, if this figure is correct) , percentage wise, than a person making $34,500 at 25%. Apple could easily pay a higher percent without harm to their company. It does amount to corporate greed in it's worst form. man, you couldn't be more wrong here, confusing that person's marginal tax rate with his effective tax rate. The 25% bracket STARTS at 34,500. He doesn't pay a single dollar at that rate. Most of this income falls under the 15% bracket, from 8500-34500. The first 8500 get taxed at 10%. However, you can't forget about the standard deduction of 9350. So here's how it really breaks down: 0-9350: 0$ paid 9350-17850 850$ paid @ 10% 17850-34500 2498$ paid @ 15% total taxes 3348$ paid - effective tax rate = 9.7%. Not remotely close to 25%, or Apple's 24.4%, which btw is much higher than a lot of corporations are paying. It's a typical rate for people in the higher side of $150k. You're correct. Thanks for pointing that out."...And once you're gone, you can't come back When you're out of the blue and into the black." Neil Young Quote Share this post Link to post Share on other sites
