Income Tax Federal & State NY

Income Tax Federal & State NY
2207 41st Ave, suite 342
Long Island City, NY 11101
(346) 897-2548
Mon - Fri 7am - 7pm
cash, all credit cards, check
Neither state offers a credit for taxes paid to another state, so your income is taxed twice. McLan Accounting
Services LLC's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and
minimize the tax liability of your beneficiaries.
With more and more United States citizens earning money from foreign sources, the IRS reminds people that they
must report all such income on their tax return, unless it is exempt under federal law. U.S. citizens are taxed on
their worldwide income.
An important point to remember is that citizens living outside the U.S. may be able to exclude up to $104,100 for
2018, of their foreign source income if they meet certain requirements. However, the exclusion does not apply to
payments made by the U.S. government to its civilian or military employees living outside the U.S. Please contact
us if you feel you may have earned foreign income to learn more!
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