Is There a Foreign Income Tax Offset for US Expats?

Is There a Foreign Income Tax Offset for US Expats?

All Americans have to file a US tax return, reporting their worldwide income, including expats. This is because the US taxes based on citizenship, rather than based on residence like most other countries. This means that many Americans living abroad face the prospect of double taxation, paying income taxes both in the country where they […]

Why Choose Bright!Tax for your Expat Tax Return Preparation?

Why Choose Bright!Tax for your Expat Tax Return Preparation?

American expats are required to file a US tax return reporting their worldwide income, just as if they lived in the US. Filing from abroad is typically more complex however, due to additional filing requirements such as claiming the exemptions and credits that help expats avoid double taxation, as well as reporting foreign accounts and […]

Traditional and Roth IRAs and Taxes – What US Expats Need to Know

Traditional and Roth IRAs and Taxes – What US Expats Need to Know

American expats are required to file a US tax return each year, reporting their worldwide income. Expats may also have to report their foreign businesses, assets, and financial accounts, depending on factors including their types and values. When expats file, they can normally claim one or more IRS exemptions or tax credits that reduce their […]

The US – Israel Tax Treaty for Expats

The US – Israel Tax Treaty for Expats

The US-Israel tax treaty was signed in 1975, and last updated in 1995, though there is speculation that it will be updated again soon in the light of the changes to the US tax system implemented in the recent tax reform. The purpose of the treaty is to prevent double taxation for Americans living in […]

US Taxes on Foreign Income for Expats

US Taxes on Foreign Income for Expats

The United States taxes based on citizenship. This means that all US citizens (and green card holders), including anyone with the right to US citizenship, are liable to pay US taxes, wherever in the world they live. This often leaves US expats having to file both a US tax return as well as a tax […]

US Expats Taxes – Best State Residency for Expats

US Expats Taxes – Best State Residency for Expats

Americans living abroad are required to file a US tax return, reporting their worldwide income, just as if they were living in the States. To avoid paying US taxes on their worldwide income as well as foreign taxes, the IRS has made a number of provisions available, such as the Foreign Tax Credit and the Foreign […]