Foreign tax credit, so if you are working in a foreign country or you are investing in a foreign country like in their stocks and you are getting tax like capital gains taxes then you’re going to want to learn about the foreign tax credit vs foreign earned income exclusion.
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So what is a foreign tax credit?
So technically, a foreign tax credit is a non-refundable tax credit for income taxes paid to a foreign government as a result of foreign income tax withholdings.
This basically means if you made income in a foreign country AND you paid taxes in that foreign country then you could get a foreign tax credit if that same income is being taxed.
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
