A credit is allowed for foreign income taxes paid or accrued. The money is limited to that particular part of U.S. tax due to foreign source income. It is far from refundable, but any excess credit could be carried to other years to reduce tax. Estimate your gross dollars. Monitor the tax write-offs that you most likely are able declare. Since many of them are based upon your income it helpful to prepare. Be sure to review your earnings forecast during the last part of year to assess income c...