07/28/2022
Earning a promotion is exciting – and accepting a new position overseas can be even more thrilling. Living in a new country grants you the opportunity to explore new places, soak in new cultures, and maybe even learn another language. But before you accept that job offer abroad, it’s important to weigh all of your […]
06/30/2022
Living abroad as a US expat can open you up to new opportunities – particularly when it comes to your career. Depending on your future goals, you may even decide to go into business for yourself. If you do, it’s important to understand how forming your own foreign corporation can impact your taxes, particularly with […]
06/16/2022
The COVID-19 pandemic has made many US expats rethink what they want out of life. During a time of travel restrictions and isolation, some expats realize that coming back home to be close to family and friends is what they value most. It was the case for Louisiana native Chara Richterberg, who until March of […]
05/03/2022
If you’re an American expat searching for more autonomy in how you work and what you work on then transitioning to self-employment may be the natural next step. There are a few different ways you can achieve this – you can become an entrepreneur and start your own business, or you can work as an […]
08/02/2021
When forming a business abroad as a US expat, there are several important factors to consider. Chief among them is selecting the business entity to establish – this may later inform how you file IRS Form 8832: Entity Classification Election. Filing Form 8832 establishes how the IRS classifies and taxes your foreign business. That said, […]
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. […]
05/17/2021
The US tax system is unusual, in that the US taxes based on citizenship rather than residence. This means that all US citizens have to file US taxes on their worldwide income, even if they have to file foreign taxes too. This includes Americans living abroad, who have the same annual US filing and reporting […]
10/19/2020
If you’re an expat business owner, the 962 election is one of several tax provisions you may need to wrap your head around. This is especially true if you earn GILTI, Global Intangible Low Taxed Income. As a reminder, in 2017, the US government introduced the Tax Cuts and Jobs Act (TCJA), which initiated GILTI. […]
07/16/2020
The IRS has released the final GILTI rules, two and a half years after the new tax on Americans with a foreign registered business was introduced as part of the 2017 Tax Cuts and Jobs Act. Initially intended to target large multinationals like Apple that had established offshore subsidiaries so as to pay less US […]
06/25/2020
Leading US tax attorney Monte Silver has been locked in a legal action with the IRS for over a year, in defense of American expats with a small business registered abroad. All American citizens, including expats, are required to file US taxes every year, reporting their worldwide income and their offshore financial accounts and businesses. […]