ZIP FILE ALERT! IF YOU SEND YOUR TAX INFO IN A ZIP FILE, PLEASE CALL AHEAD OR NOTIFY US THROUGH A SEPARATE EMAIL TO ENSURE RECEIPT.
PALAZZO & COMPANY CPA GLOBAL KNOWLEDGE, LOCAL TRUST.

13155 Shriners Blvd, Suite B Biloxi, MS 39532, United States

(228) 396-8800 or (866) 272-9224 info@palazzotax.com

Global

WeAreGlobal

TAX RETURN SERVICES
US EXPAT TAX RETURN STATE/FEDERAL
FOREIGN CITIZEN US TAX RETURN
AMENDED TAX RETURN
PREVIOUSLY COMPLETED TAX RETURN REVIEW
IRS REPRESENTATION & LETTERS
YEAR-ROUND TAX PLANNING & SUPPORT

DID YOU KNOW?

Foreign Tax Credit
If you paid or accrued foreign taxes to a foreign country on foreign source income and are subject to U.S. tax on the same income, you may be able to take either a credit or an itemized deduction for those taxes. Taken as a deduction, foreign income taxes reduce your U.S. taxable income. Taken as a credit, foreign income taxes reduce your U.S. tax liability. In most cases, it is to your advantage to take foreign income taxes as a tax credit.

Foreign Earned Income Exclusion
If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude from income up to an amount of your foreign earnings that is adjusted annually for inflation. Let us prepare your return so we can decide what is the most beneficial for your situation.

Foreign Bank Account Reporting
If you are a U.S. citizen who had a signature authority over at least one financial account located outside of the United States, and the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year, the accounts must be reported.

 

 

Palazzo & Company, LLC BBB Business Review