Hi,
New here. Just a quick question on income tax. I understand the foreign income exemption part of the US income tax. My question is that if you earn more than the exemption and you have to pay US income tax, can you reduce your tax with the income tax you have already paid to China? Do you get double taxed? I thought China does not have tax treaty with US, so can the Chinese Income Tax be used to reduce your US income tax?
Thank you for your information…
