How Do You Extend Taxes For Overseas Contractor?
If you are a U.S. citizen living abroad, you can file for extra time to complete your taxes. If you are a military contractor, you fall into the category of private citizen (members of the U.S. armed services can get an automatic two-month extension). However, regardless of your profession, you can apply for up to a six-month extension. You will need to pay additional interest charges, though. Calculate your estimated tax liability before you file your extension. If you are a sub-contractor, you will need to figure your total taxes on your own. If you are a contractor but paid with a W-2, you need to calculate your liability based on the taxes withheld. Use the federal tax brackets to figure your liability. As of the 2009 tax season, the federal tax percentage brackets are: 10, 15, 25, 28, 33 and 35. For example, if you made $95,000 at your contracting job in 2009, 28 percent of that income is taxable. Therefore, $26,600 is your tax liability. See Resource 1 for all tax brackets. Obtai
