06/07/2018
The Trump Tax Reform brought significant changes for many expats with a foreign registered businesses. Previously, a foreign registered corporation owned by Americans could leave its profits in the business to avoid paying US taxes on them. This led to giant corporations such as Apple having billions of untaxed profits sitting offshore though. To remedy […]
05/31/2018
US expats are required to file US taxes from abroad, reporting their worldwide income, just like Americans living in the US. Many expats believe that either a tax treaty or their income level may mean that they don’t have to file. Unfortunately though, all American citizens and green card holders who earn over $10,000 (or […]
04/20/2018
Donald Trump’s long promised tax reform bill was finally signed into law just before Christmas 2017. The Tax Cuts and Jobs Act wasn’t the Christmas present many expats were hoping for though, as it didn’t address Americans living abroad having to file US taxes. The worst affected though are the tens of thousands of expats […]
04/16/2018
Trump promised to deliver tax reform, lowering tax rates and incentivizing multinationals to repatriate and pay US tax on their overseas earnings. While lowering tax rates hasn’t impacted the majority of expats, as they are able to claim one or more exclusions when they file that most often relieve them of any US tax liability, […]
03/22/2018
US expats are unfortunate in that they have to file US taxes on their worldwide income, often besides filing taxes in the country where they live. There are ways to avoid double taxation, such as by claiming IRS exemptions like the Foreign Tax Credit and the Foreign Earned Income Exclusion, or by choosing to live […]
02/26/2018
One of the aims of the Trump Tax Reform was to get giant American multinational corporations such as Apple, Google and Microsoft to repatriate their vast cash piles that they’d been keeping offshore. In achieving this though, the reform has also affected many US expat entrepreneurs and Digital Nomads as well. Before looking at the […]
12/14/2017
Bitcoin (along with other crypto and virtual currencies) has been in the news over the last few weeks, thanks to its soaring value. Many expats were early adopters and investers in Bitcoin, recognizing its international nature and its convenience for cross-boarder payment transaction. With the recent media attention though, many expats are now seeking a […]
09/07/2017
FBARs (Foreign Bank Account Reports) have been a filing requirement for Americans with financial accounts overseas that meet the criteria since the Bank Secrecy Act of 1970. It has only been enforced for the last few years however, since the 2010 Foreign Account tax Compliance Act (FATCA) obliged foreign financial institutions to pass details about […]
07/27/2017
Millions of Americans living abroad are working as freelancers. Some work mainly for one or more American firms, others freelance for foreign firms or provide services directly to small firms or individuals. Many are settled permanently in one foreign country, others are intending to return to the US after a few years, or they may […]
04/27/2017
All Americans are required to file and pay US taxes, declaring their worldwide income, wherever in the world they live. The US is the only major country that requires its citizens to file a tax return even if they are expatriates. Thankfully, there are several exemptions that US expats can claim that reduce or eliminate […]