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Latest revision as of 21:43, 24 August 2026

There is much confusion about what constitutes foreign earned income with respect to the residency location, the location where the work or service is performed, and the source of the salary or fee payment. Foreign residency or extended periods abroad from the tax payer can be a qualification to avoid double taxation.

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A personal exemption reduces your taxable income so you end up paying lower taxes. You could be even luckier if the exemption brings you to be able to lower tax bracket. For the year 2010 it is $3650 per person, same as last year's amount. Throughout the year 2008, sum of was $3,500. It is indexed yearly for augmentation.

In our software company there are two ways to build wealth and much more through intellectual property and maintenance deals. These two things used together will build a good that can be sold for 2-4X net income. Now to foster that investment with leverage, I personally use the "Infinite Banking Concept" to lend money into the business through "my own bank." The money enterprise enterprise pays me comes back as investment income thus lower overtax. The new revenue the additional maintenance contracts bring foster new agreements. The next step would be use "good debt" to leverage our coverage and get more maintenance contract revenue with our software basis.

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