Tax Planning & Advice

The US taxes all American citizens on their worldwide income, including Americans living abroad. For American expats, this requirement to file from overseas can create significant headaches. These include, for many expats: currency conversions, having to file foreign and US taxes and so risking double taxation, and difficulties accessing local banking and other financial services […]

If you’re about to sell (or are considering selling) a substantial amount in assets, the capital gains tax is likely top of mind. While capital gains taxes can be complex in general, Americans living abroad must take additional factors into account. Failing to weigh the tax implications before carrying out a sale can take a […]

This post was last updated March 27, 2023. According to World Population Review, Canada is second only to Mexico as the most preferred destination by American expats. Between Canadian friendliness and endless natural beauty, what’s not to love? For many Americans living in Canada, there’s an added bonus: proximity to the US.  Considering these factors, […]

Last updated March 23, 2023. It seems that impactful external events may trigger introspection with regard to nationality. For example, the two years with the highest number of US citizenship renunciations ever were 2020 (6,705) and 2016 (5,411). Deciding to renounce US citizenship is a highly personal choice that comes with many life-changing implications. US […]

It’s common for longtime US expats to consider the pros and cons of renouncing US citizenship. The annual filing requirement can take a toll on both nerves and patience, leading many to question why, exactly, they maintain their US citizenship. Contrary to popular belief, however, renouncing is a time-consuming process rife with bureaucratic hurdles. To […]

The IRS wrapped up the Offshore Voluntary Disclosure Program (OVDP) on September 18, 2018. They cited advances in third-party reporting and a growing awareness among U.S. taxpayers about their offshore tax responsibilities as the reasons. As the curtain falls on the OVDP, many Americans are still playing catch-up with their U.S. tax filings. Naturally, folks […]