271k income
172k foreign income/housing exclus
12,600 std ded
16,200 exemptions
its calculating my taxable income by 28%
shouldnt it be 33%
married file joint
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Assuming that your total foreign earnings ( one person earning) of $271K, no other foreign deductions ( for simplicities sake), MFJ, Two dependednts, fully qualified to exclude max foreign earnings, I get the following:
Your income 271,000
Foreign Earned Income exclusion of $101300 ( for 2016); your AGI for US tax purposes is $169,700. Hence your taxable income is $140,900 and your tax is $38471 -- margina rate of 25% , effective rate of 22.67% ( based on AGI after foreign earned income exclusion ). Is this what you are getting ?
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