why: so the government won’t be able to use your money for whatever the fuck they’re planning for the next 4 years.
as a traveler, none of my money has been funding Israel, for example.
one-step method: you basically fill out one extra tax form called FEIE while you’re doing your taxes, write down the dates you were outside of the country, and then since you aren’t in the country and are not receiving any services from the US, you don’t have to pay income tax up to a certain amount (it’s a little over 125k this year).
Gotcha, okay. So you could do it either way, but for most people ($125k and below per person) it’s probably just better to use the feie it seems
This is great, thanks for sharing all this.
exactly, the feie makes tax mitigation way simpler for most full-time travelers at most income levels.
you’re welcome, I love it when people find this stuff useful!