I moved from the US to the UK this past September. I ran a business in the US, which I am continuing to run remotely from the UK.
I have a couple of questions based on a couple of assumptions.
1.) Even though 100% of my income is from US companies, paid in dollars, and paid into my business account in the US, the fact that I live in the UK makes me liable for UK taxes on that income.
2.) I understand that I can claim the Foreign Earned Income Exclusion on my US taxes to offset any taxes paid to the US Government.
My questions:
1.) Does Turbo Tax support the Foreign Earned Income Exclusion?
2.) Since the tax year in the UK runs from April-April, I will not pay the taxes I owe for Sept-Dec until the end of next year. Is there any mechanism to prevent me paying taxes on the income I know I will NOT be liable for this year? Basically, I'm not sure how the difference in the tax years are treated by the US.
Thank you in advance for any help.
