Your Tax Question - 052

Dear John, I just got home from India where I have worked for the last year. What will happen on my taxes? Thank you so much, Cal.

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Hi Cal,

In order to not tax a taxpayer twice Congress allows you to take a Credit or a Deduction. The credit is usually the best route because it reduces your U.S. tax liability dollar for dollar where the deduction just reduces the amount of income that is taxable. Determine which is best for you according to the facts of your own individual case. See page 21 of the 1040 instructions for more information.

You know, I can help you with this - I'm just saying...

Happy New Year!!!

John

PS. Did you see that I am offering single moms a deal this year? I will do their taxes for $69.99 complete. That's all the forms necessary and eFile for just $69.99. It's just my small way of helping our single moms.