My husband and I may move to Denmark this fall for 10 months (Sept- July) where he will be employed by a Danish company. Will we have to report that income on our US tax returns for 2009? Will Denmark tax his income? Will we have to pay taxes to both countries?
Denmark - 2 Answers
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1 :
Yes for 2009,but being only partial year should get some tax back.. Yes his income will be taxed in Denmark,again not being a full year of tax in Denmark,you will very probably get a refund when you leave.. Will pay taxes to the U.S. up until you go overseas..Will pay taxes to Denmark while you reside there.Not to both countries @ the same time. Trust this helps you.Enjoy your time in Denmark,should be great..
2 :
You'll pay US taxes while you're in the US. When you arrive and work in Denmark you'll pay taxes to Denmark. Last I remember from speaking with my CPA regarding my taxes, there's an $80K 'deductible' when working overseas - as long as you don't make more than 80k, you're not taxed further in the US. If you're in doubt, contact a CPA near you and find out.
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