What Are Some of the Commonly Cited Reasons to Send

question 19

Short Answer

What are some of the commonly cited reasons to send PCNs abroad long term as expatriates?

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Definitions:

U.S. Federal Income Tax

The financial charge imposed annually by the Internal Revenue Service on the income of individuals, corporations, trusts, and various legal entities.

Depreciating Assets

Assets that lose value over time due to use, wear and tear, or obsolescence, such as machinery, vehicles, and buildings.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was put into use, reducing its book value on the balance sheet.