Why Must I File Past Years Taxes Online: Difference between revisions
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Revision as of 15:49, 7 October 2026
Many small small business owners start with a sole proprietorship avoid the costs of forming a corporation or LLC. This may be a wise decision as statistics show that most small businesses lose money for the first several years. Julie's total exclusion is $94,079. On her American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative.
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