Business Definition for: foreign income
Dictionary of Business Terms
foreign income ...
Foreign Income
If you are a US citizen or resident alien with income from sources outside the United States, you must report all that income on your U.S. tax return unless it is exempt by US law.
Foreign income taxes. Generally, you have the choice between deducting foreign taxes on Schedule A, or claiming a tax credit for them on Form 1116. Usually, the credit will do you the most good.
Foreign Income
Income gained by residents of one country from another country.
Foreign Investment ...
foreign income dividend
Overseas Investment Commission
International Union of Credit and Investment Insurers ...
Territorial tax system A tax system that taxes domestic income but not foreign income. Territorial tax regimes are found in Hong Kong, France, Belgium, and the Netherlands.
Foreign income from sources other than the movement of goods. It includes a country's earnings from tourism, banking, shipping, insurance an...(Read more)
Invisibles ...
Foreign Tax Credit: To avoid double taxation of foreign income, the U.S. provides a credit against U.S. income tax for income tax paid to the host country.
FBAR Offshore Bank Accounts and Foreign Income Attacked by IRS
You may want to think about participation in the IRS' offshore tax amnesty program (called the Offshore Voluntary Disclosure Initiative).
Foreign Income (business term)
Fully Insured Status (insurance term)
Keogh Plan (Hr-10) (insurance term)
Limited Liability Company (LLC) (in banking)
Community Property (insurance term)
Accrued Taxes (business term) ...
QUARANTINING In the context of the foreign tax credit system, this term denotes the separate calculation of the foreign tax payable on all foreign income of a particular category which may be credited against the domestic tax payable on that category ...
Exports depend on foreign income or production, but not on domestic income or production. While other expenditures have both autonomous and induced components, exports are exclusively autonomous.
A tax system that taxes domestic income but not foreign income. Territorial tax regimes are found in Hong Kong, France, Belgium, and the Netherlands.
Theoretical value ...
In economics, where Gross Domestic Product (GDP) only counts net imports and exports in its formula, Gross National Product (abbreviated GNP) also includes net foreign income. Both methods are often used together to get a clearer picture.
charitable donations and gifts;
dividend tax credit;
foreign tax credit on any foreign taxes paid on foreign income;
federal political contribution tax credit;
investment tax credit; and
labour-sponsored funds tax credit.
 See also: Compensation, Expense, Tax liability, Itemized deduction, Direct investment
  
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