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Because with the increasing tax rate of upper brackets, a reduction of taxable income with the higher bracket saves you more tax than pertaining to reduction in a lower clump. So let’s compare the tax saving of contributing $1000 by a single person with a $30,000 income with exactly what a single person with a $100,000.

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The increased foreign earned income exclusion, increased tax bracket income levels, and continuation of Bush era lower tax rates are excellent news for all the American expats. Tax rules for expats are development. Get the specialist you have a need to file your return correctly and minimize your You.S. tax.