Foreign Income & U.S. Tax Returns


U.S. tax preparation for individuals with income earned, received, or taxed outside the United States.


U.S. tax reporting can extend beyond income earned in the United States. Foreign wages, pensions, investments, rental properties, and business activity may need to be considered when preparing a U.S. individual income tax return.


Schmid CPA helps individuals identify and report foreign income while considering foreign taxes paid and the potential interaction between U.S. and foreign tax systems.

Foreign Wages & Employment Income

  • U.S. tax reporting for salary, wages, bonuses, and other compensation earned from employers outside the United States.

Foreign Tax Credits

  • Analysis and reporting of qualifying foreign taxes and applicable foreign tax credits, including Form 1116 when required.

Foreign Pensions & Retirement Income

  • Review and reporting of foreign pension, retirement, and similar income based on the individual’s circumstances.

Foreign Rental & Investment Income

  • U.S. tax reporting for foreign rental properties, interest, dividends, capital gains, and other investment income.

Foreign Business & Self-Employment Income

  • Tax reporting for individuals receiving business, consulting, freelance, or self-employment income from outside the United States.

U.S. & Foreign Tax Coordination

  • Review of foreign tax information and coordination of relevant amounts with the individual’s U.S. tax return.

Having income outside the United States does not necessarily mean paying tax twice on the same income.


Depending on the circumstances, foreign tax credits and other provisions may help address taxation imposed by multiple countries.



Schmid CPA reviews the income, foreign taxes, residency, and other relevant information to determine how those items should be reflected on the U.S. tax return.

Foreign income can arise in many different ways.


Schmid CPA can assist with:


★ Foreign salary and employment income
★ Foreign self-employment and business income
★ Foreign interest and dividends
★ Foreign stock and investment activity
★ Foreign rental properties
★ Foreign pensions and retirement income
★ Foreign taxes paid or withheld
★ Foreign tax credit considerations
★ Individuals moving to or from the United States
★ Coordination of U.S. and foreign tax information



Foreign income may also create separate reporting requirements involving foreign accounts, assets, or investments.

Every cross-border situation is different. The appropriate U.S. treatment can depend on the type of income, where it was earned, residency, foreign taxes, and other facts.


Schmid CPA provides tax support based on the individual’s actual circumstances rather than treating foreign income as an isolated tax form.


Have income from outside the United States?


Schedule a consultation to discuss your foreign income, taxes paid, and U.S. filing requirements.