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QUESTION DETAIL
Related User
Votes
I am moving to the Bahamas to work for a year. I was told I did not have to pay taxes on the first $80,000 that I make. Is that true?
ANSWER
The BIDaWIZ Team's Answer:
Yes: for the 2010 tax year, you are allowed a foreign earned income
exclusion, on the first $91,500, of income that is earned by working
in a foreign country. The exclusion is claimed by filing Form 2555, with
your Form 1040.
