[louismarelise]

Hello, I hope you can help me please.
I am a medical doctor working and residing in the UK at the moment. I have a green card for the USA. I will work in the UK for 10 months in 2009 and vacation in the USA for 2 months (not working in the USA). I have a limited company in the UK. I also have a registered company in the US (although haven't traded with it yet). I plan to do 1 or 2 trades and then file a tax return in the US, stating the trade done (I believe that I have to file a tax return as I am a green card holder).
What is the minimum time I need to be working OUTSIDE of the USA, to not have to pay tax on my income in 2009 in the USA also? I will return to the USA in 2010 and will continue to pay taxes there as I have done for 2008 as well.
Thank you,
Marelise

[MukatA]

If your total worldwide income exceeds the filing requirement, you must file your U.S. tax return. On your U.S. return, you must report your worldwide income.

If you paid taxes in the foreign country, you will claim credit for taxes paid in the foreign country by filing Form 1116 or can file form 2555 Foreign Earned Income Exclusion.. Read: Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income

[louismarelise]

Thank you very much MakutA. I checked out the site and it's not good news, but at least I know now. Thank you for your time.
louismarelise

[IntlTax]

You will also need to file Form 5471 for the U.K. limited company. Note that there is a $10,000 penalty for failing to file this form.

[louismarelise]

Thank you for this.
Marelise