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Revision as of 23:40, 13 May 2026


Many small business owners start with a sole proprietorship keep clear of the costs of forming a corporation or LLC. This can be a wise decision as statistics show that most small businesses lose money for the first several years.

For my wife, she was paid $54,187, which she isn't taxed on for Social Security or Healthcare. She has to put 14.82% towards her pension by law, making her federal taxable earnings $46,157.

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Julie's total exclusion is $94,079. On her American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. tax.

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