06/24/2021
The Bright!Tax Awards Committee is proud to announce that Calev Isaacson is the latest recipient of the Global Scholar Award. The Awards Committee found Calev’s story and ambitions inspirational. He grew up in Arizona, where his father’s family had emigrated to from war-torn Europe in the 1940s. His mother’s family meanwhile were originally Mexican. Calev […]
06/21/2021
Retirement abroad is more popular than ever, as the world has become more connected online, making managing finances and keeping in touch with family and friends from abroad easier. The desire to travel meanwhile has been amplified by the pandemic. The top considerations when considering where to retire overseas are cost of living, healthcare, quality […]
06/17/2021
Since the Civil War, the US has employed a citizen-based taxation system, which means all US citizens, including Americans living abroad, have to file US taxes every year. The requirement also applies to self-employed US expats. It therefore makes sense for self-employed expats to make the best possible use of allowable business deductions to reduce their […]
06/14/2021
Covid has changed the way we live in numerous ways, including our working habits, as millions of previously office-based workers around the world have transitioned to working remotely. They and their employers have not only adapted, but also learned to embrace the benefits of remote working, such as increased productivity, and reduced costs. These benefits […]
06/10/2021
At a summit on Saturday June 4 2021, the G7 group of countries agreed to establish a global minimum corporate tax rate, as well as a common way to tax the biggest international digital services companies. Background In the digital age, companies can sell services online in other countries without having a physical presence there. […]
06/07/2021
With the June 15 expat tax filing deadline just a week away now, what do Americans living abroad need to know – and do? US tax filing requirements for Americans living abroad Unlike most other countries, the US runs a citizenship based taxation system, which means that it requires all US citizens (and Green Card […]
06/03/2021
On Friday May 28, the White House sent its fiscal year 2022 budget request to Congress. The headlines are calling it a $6 trillion budget, however the eye-watering $6 trillion figure covers proposed spending for the next decade, rather than just for 2022. Furthermore, the budget contains the two domestic proposals that have already been announced […]
05/27/2021
On May 20, the US Treasury released a proposal called the American Families Plan, which contains increased spending on childcare and education. The plan also contains an extensive Tax Compliance Agenda to help raise additional revenues to pay for the new measures at a time of unprecedented high levels of national spending and debt. At […]
05/24/2021
A mutual fund is a financial vehicle that allows a group of investors to pool their money to invest in stocks, bonds, and other funds. The advantage of investing in a mutual fund is that by pooling you obtain the benefits of larger investors, such as diversifying your investments and paying lower fees for expert […]
05/22/2021
AARO, US tax attorney Monte Silver, and Bright!Tax invite you to a webinar covering updates for filing in 2021 for both individuals and business owners. The webinar will also cover Covid relief, the new Child Tax Credit, and expected changes to the tax law this year such as estate tax and corporate/GILTI tax rates. The webinar is for American citizens […]