Contributed by: Don Winner
By DON WINNER for Panama-Guide.com - Good advice, received today via email as we approach tax deadlines in the United States: "Regardless of how many Lawyers or CPAs you receive tax information from, in the final analysis: All American citizens must report any income they receive. Regardless of the source or where they are domiciled. Now, there are provisions in the law for the exemption of earned income when the receiver has been out of the US for a particular period of time. But, you still have to declare it to get the deduction. It is simple and professional fees will not change the IRS's outlook. Remember, no jury ever sent the lawyer to jail. His client, is another matter. Jack."
Copyright 2009 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.