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Latest revision as of 21:51, 22 September 2026

Many small individuals start with a sole proprietorship to the costs of forming a corporation or LLC. This is often a wise decision as statistics show that a lot of small businesses throw money away for the first several years. Julie's total exclusion is $94,079. On the American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S.

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