How we can benefit you

Benefits

Do you travel back and forth while living and working in a foreign country? We have successfully applied a large number of oil and gas workers for the foreign income exclusion and foreign tax credits. We invite you to contact us, at no-cost, to determine if you qualify for the exclusion which allows up to $120,000 of tax free income.

Current Tax Benefit

The Foreign Income Exclusion currently (2023) eliminates tax on foreign earned income up to $120,000.

The Housing Exclusion (when applicable) can shelter income in excess of the $120,000 limit.

Actual Tax Savings

You can expect tax savings based on the following income ranges:

Income Range Approximate Federal
Tax Savings
$105,000 – 135,000 $15,000
$135,000 – 175,000 $20,000

Example: If you are single and your gross foreign income is $125,000, the exclusion saves you approximately $15,500 in Federal taxes plus state tax savings, if applicable.

If there are foreign taxes involved, there are additional tax savings calculated over and above the tax savings from the foreign income exclusion.

Other Benefits

  1. Amending prior filed tax returns:
    • We have prepared amended tax returns and have successfully obtained tax refunds from many prior filed tax returns by claiming the exclusion not previously claimed. Contact us for a no-cost review of your situation to determine applicability.
    • For workers who had foreign tax credits available and failed to take the credits on their tax return, we file amended tax returns back 10 years and obtain refunds. This is a unique service as the concept of being able to go back 10 years is a rare exception to the normal three year statute of limitation. We are one of the few tax practitioners who are aware of these special tax regulations/laws.
    • We also have success at the IRS Appeals level on certain amended returns that were initially rejected by IRS which is no easy task.
    • We recently took a case to the Tax Court level after losing at the IRS Appeals level and scored a complete win.
    • Taxpayers can opt out of paying payroll taxes in certain situations. We are familiar with and current on the authoritative IRS policies that makes this option available.
    • Filing Form W-4 to reduce the withholding of income taxes by employer. See explanations in our discussion letter under other considerations as to why this is important.
    • You receive highly personal and dedicated attention from specialized personnel.  We pride ourselves on being readily accessible to answer questions and provide guidance.
    • We know this code section (911) like the back of our hand. Because of this specialized knowledge, we are able to apply many workers. We know your rights and will fight for them.