But when it comes to emotional and physical well-being, the variable nature of life abroad could have special benefits. An important component of moving abroad is the language question: Will you have to, and do you want to, learn a new language? That doesn’t mean you’ll pay U.S. tax on every dollar you earn or keep abroad. If you’re not planning to work while abroad, paying income tax on employment earnings won’t be a concern for you. The Foreign Tax Credit can also help reduce your U.S. tax burden.

Source: Forbes November 12, 2020 20:03 UTC