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Topic: How much will we have to pay?  (Read 1147 times)

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How much will we have to pay?
« on: February 17, 2005, 03:08:58 PM »
Ok , so if we make less than $80000 most likely we won't have to pay taxes....But what happened if we do make over that? How do they calculate how much you would need to pay? Is there a fixed percentage that they would want or there are other facts that they would consider? Let's say you make 100000? Anyone knows?

There are so many facts to consider before moving I am getting a serious headache...
Thank you
Marilena
Marilena


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Re: How much will we have to pay?
« Reply #1 on: February 18, 2005, 12:28:56 PM »
The remaining $20,000 will be subject to foreign tax credit. Another words you will claim a credit for UK taxes that you have paid on it on your US return. So your overall effective tax rate, will be that of the country will higher tax rate . This will be UK.
HT TAX (US & UK Tax Services)
e-mail:h.tanhaie@ntlworld.com


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Re: How much will we have to pay?
« Reply #2 on: February 18, 2005, 04:09:52 PM »
Thank you, this make more sense
Marilena


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