Foreign Tax Credit. CPA Exam

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In this session, I discuss I discuss foreign tax credit.

#cpaexam #cpaexaminindia #cpaexamreview
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Hi Sir, I was searching for this and finally got one. Thanks a lot. Request you to please do a video on how double taxation is calculated when one country follows calendar year and another country follows fiscal year.

sathyaprabajayaprakash
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Hi Sir. Thank you for this great session, However, I have doubt that if The FTC claimable is lesser of foreign tax paid or federal income tax for income that is double taxed income then How the last example of Sara can take 384 as tax credit since 2500 is foreign tax which is greater than 2116 of double taxed income tax? it should be an expense right? Why US is to be bothered by the tax rates determined by the other countries.

AjmalAhmed-nn
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You how do you go back and use the credit
I am a non CPA student and just out of curiosity i wanted to know

aashutoshpunjwani
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Please explain how to deal when the FY is different from USA. viz April-March

BABJI
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What if a person with all income from foreign company? Then retired in U.S., no U.S income.

TeamLA