My after tax income (including bonus and interest income) is approximately US$325K per month. I am a professional and my job is relatively steady (been with the same company for more than 5 years). What percentage of my after tax income should I be saving (either for retirement or a rainy day)? Obviously, it is better to save as much as possible. But I guess I want to know what percentage is a prudent guideline. Thanks
What exactly is the income difference between those who are college graduates and those who only have a high school diploma?
I'm talking about the whole entire work force in America. What is the difference in income between those in the work force who have college degrees than those with only a high school diploma?
I am a US Citizens living abroad. I am in the process of filing tax return for 2008 for foreign earned income based on IRS' publication 54. Our earned income has already been taxed once by the country we live in.
I see that there are two ways to avoid double taxation on your income -the foreign earned income exclusion and the foreign tax credit.
Can somebody please explain the difference between the two and point out advantages to use one over another?
I am a US Citizens living abroad. I am in the process of filing tax return for 2008 for foreign earned income based on IRS' publication 54. Our earned income has already been taxed once by the country we live in.
I see that there are two ways to avoid double taxation on your income -the foreign earned income exclusion and the foreign tax credit.
Can somebody please explain the difference between the two and point out advantages to use one over another?
