cinderet1 asked:
I am an American citizen working in China. Can anyone help me regarding taxation laws on both federal and social security taxes? Is there a ceiling on untaxable income? how do i go about paying my taxes? Thank you!!
June 8, 2005
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file your taxes online and answer the questions truthfully. I would not worry too much about taxes, they are going away soon!!!
Comment by skylvrsyxdank — June 11, 2005 @ 5:33 am
Income that you make overseas is likely to be reported as self employment income and you would pay that tax when you file your return at the end of the year. You may be able to exclude a portion of your income if you have been outside the US for 330 days in a 12 month period and the money was earned and/or received in that period. The excludable amount for 2006 was $82,500 but I have not seen the amount for 2007. These issues are frequently complex. You should seek the advise of a tax professional.
Comment by Mathew — June 13, 2005 @ 10:57 am