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2. Foreign tax credit - Wikipedia

   en.wikipedia.org/wiki/Foreign_tax_credit

   A reduction of tax (credit) is often provided in income tax systems for similar income taxes paid to other countries (foreign taxes). [1] [additional citation(s) needed] This is generally referred to as a foreign tax credit. Amounts in excess of income tax are usually nonrefundable. [2]

3. Is There a Limit on Foreign Tax Credits? - AOL

   www.aol.com/limit-foreign-tax-credits-135850529.html

   If this person earns $100,000 per year and falls in the 24% tax bracket, their actual tax savings from the deduction would only be $480, which is considerably less when compared with the credit ...

4. Foreign Tax Credit vs. Deduction: Which Could Get You ... - AOL

   www.aol.com/foreign-tax-credit-vs-deduction...

   For example, if John owed $10,000 in U.S. taxes and had paid $4,000 in foreign taxes, the foreign tax credit could reduce his U.S. tax bill by $4,000. The foreign tax credit helps prevent double ...

5. Taxation in Gibraltar - Wikipedia

   en.wikipedia.org/wiki/Taxation_in_Gibraltar

   Disabled Person £2724 Dependent Relatives (maximum for Resident) £190 Dependent Relatives (maximum for Non-resident) £139 Blind person £627 Apprentice £380 Single parent £2632 Home Purchase Allowance (deduction) £11,500 Home Purchase (Special - £1000 maximum p.a.) £4000 Social Insurance (Employee) £335 Social Insurance (Self-employed)

6. Alternative minimum tax - Wikipedia

   en.wikipedia.org/wiki/Alternative_minimum_tax

   Each year, high-income taxpayers must calculate and then pay the greater of an alternative minimum tax (AMT) or regular tax. [9] The alternative minimum taxable income (AMTI) is calculated by taking the taxpayer's regular income and adding on disallowed credits and deductions such as the bargain element from incentive stock options, state and local tax deduction, foreign tax credits, and ...

7. Foreign Tax Credit vs. Deduction: Which Could Get You ... - AOL

   www.aol.com/finance/foreign-tax-credit-vs...

   The post Pros and Cons of Taking a Foreign Tax Credit vs. Deduction appeared first on SmartReads by SmartAsset. For U.S. citizens with foreign income, knowledge of foreign tax credits and ...