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A credit is allowed for foreign income taxes paid or accrued. The loan is limited certain part of Oughout.S. tax due to foreign source income. It's not refundable, but any excess credit could be carried to other years to reduce tax. If you add a C-Corporation into a business structure you are able to reduce your taxable income and therefore be qualified for one of those particular deductions by which your current income is too high. Remember, a C-Corporation is its unique individual american.

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