TaxMan60601

Hi guys, Greeting to everyone on East Coast. Here's tha case in brief. Taxi driver. Actual expenses reported on last tax return, however changed car on March 1 and wants to avail on standard mileage rate now. Can he and if yes how to report this car change on Sch. C, in ATX? Must he report depreciation on new car if actual car expenses in use? Thanks in adv.

Hey, any news on this?

That's for sure. But just have in mind that French residents, employed in France, are being paid net of social security contributions only. No income tax is deducted at source from their income. It is their responsibility to ensure that they retain sufficient funds to pay the tax liability when this to come - Income tax is paid in the year after the income is earned. So for 2011 income, the tax should be paid in 2012. So, I think you just may report her foreign income but you wont be able to claim any foreign tax credit on her return. Again, you better doublecheck this ...