The Best Tax Software for US Expats

The Best Tax Software for US Expats

The majority of Americans use tax software to file their US taxes. In the light of this, it’s strange that the IRS has been changing Form 1040 over the last couple of years, as very few people use it. Instead, the majority either employ a tax preparer, who uses software, or they input their information […]

GILTI and IRS Form 8892 Explained For US Expats

GILTI and IRS Form 8892 Explained For US Expats

One of President Trump’s central election pledges in 2016 was to cut taxes. The result was the signing into law in 2017 of the Tax Cuts and Jobs Act, more often referred to as the Trump Tax Reform. The Act didn’t just cut income and corporate taxes though, it also created some new ones, notably […]

Foreign Account Reporting Rules for US Expats

Foreign Account Reporting Rules for US Expats

Americans who move abroad have to continue filing US taxes on their global income. This is because the US taxes all US citizens (and green card holders), wherever they live – including abroad. Most other countries only tax their residents on their worldwide income, or only tax income arising within the country, regardless where the […]

Top 5 US Tax Tips for Expats Investing Abroad

Top 5 US Tax Tips for Expats Investing Abroad

There are an estimated nine million Americans living overseas, and all of them who earn over $12,200 (in 2019, globally), or just $400 of self-employment income, are required to file a US federal tax return. When they file, expats have to file additional IRS forms to reduce their US tax bill, such as Form 2555 […]

Self Employment and Social Security Taxes for US Expats

Self Employment and Social Security Taxes for US Expats

All Americans are required to file US taxes reporting their worldwide income, even if they live abroad. The IRS has provided a number of exemptions, notably the Foreign Earned Income Exclusion and the Foreign Tax Credit, that US expats can claim when they file that for most people mean they won’t end up paying any […]

FinCEN Form 114 vs IRS Form 8938 – What Expats Need to Know

FinCEN Form 114 vs IRS Form 8938 – What Expats Need to Know

All Americans have to file US taxes, reporting their global income. Expat Americans also often have to file additional reporting forms. Many expats aren’t aware though what exactly these additional reporting requirements involve, and in particular the difference between FBAR and FATCA reporting, or Form 114 vs 8938. In this article we’ll attempt to alleviate […]