U.S. income tax living in Switzerland

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  • BenutzernameMoneyland User Questions
  • Status Member
  • Registriert seit1/27/17
  • Beiträge2142

Good morning,

I will be moving to Switzerland from the U.S. in the fall and have a question about income tax. As a U.S. citizen I need to pay income tax in the U.S. no matter where I live. I am guessing that when I live and work in a foreign country, I will have to pay income tax there as well. Does that mean I will pay 2 income taxes? I would like to keep a little of my hard earned money if possible.

  • Benutzernamerian.monnahan
  • Status Member
  • Registriert seit12/13/17
  • Beiträge1

American citizens living outside of the US are given a foreign earned income exclusion of approximately 100,000 USD per year. Beyond that you are taxed on your foreign income in the US as well as in your country of residence. Cf. https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion