Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Janet Berry-Johnson is a CPA with 10 years of experience in public accounting and writes ...

As the world continues to become a smaller place with Americans working abroad as well as investing in overseas companies, the chances of being charged foreign taxes also occurs. From foreign dividend ...

The FTC operates on a relatively straightforward formula. However, it’s not a dollar-for-dollar deduction. Rather, it depends on several factors, including your total foreign income, the foreign taxes ...

Cons of a Foreign Tax Credit However, calculating the foreign tax credit can be intricate and time-consuming. It requires meticulous record-keeping and adherence to specific IRS rules. You may want to ...

The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed ...