18 Haziran 2012 Pazartesi

U.S. Missionary Taxed on World-Wide Income

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Question:

My 22 year-old son is a missionary in north Africa.He received a W-2 for his 2011 compensation. Is it taxable in the U.S.?
Answer:
Yes, world-wide income must be reported both forfederal and state income taxes. However, he may be able to file Form 2555 toreceive the Foreign Earned Income Exclusion.
The members of my FederalTaxation I class at Maranatha Baptist Bible College in Watertown, Wisconsinhave taken on the challenge of study and research to answer posted questions. JamesJorgensen of Owatonna, Minnesota gets credit for this one.

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