I know I should probably know the answer to this, but I am just trying to figure out a budget for my potential US tax burden. I know it is complicated with lots of exceptions, but I am just trying to figure out if I will end up owning thousands of pounds, or hundreds of pounds of tax.
I started in December as a full-time PAYE employee in the UK. While I am on emergency tax, I suspect (and need to check my codes) I know I can sort that out. I am likely to make somewhere in the neighborhood of $140,000 - $200,000 USD (I know that is a large range, but I have a heavy bonus component of my pay which I can't predict yet).
Considering a 80K exemption foreign earned income and the personal exemption, am I going to get other credits due to tax treaties, etc and is there some general rule of thumb for the amount of tax I will have to pay on my income over the 80K (like 10%,20%, etc). I know there will be ways to continue to mitigate the tax by consulting a specialist in the field, but I am just don't want to get to the end of next year and find out I owe 20K in US taxes without budgeting that in.
