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Schedule C: A Guide for Expat Freelancers & Small Business Owners

Given the flexibility and autonomy it offers, it’s no wonder that so many expats are small business owners, freelancers, independent contractors, or otherwise self-employed. But even though self-employment comes with benefits, it can complicate your tax obligations. Those with self-employment income are often subject to additional filing requirements, like Schedule C. While it might all […]

Portugal Golden Visa: What US Expats Need to Know

If you’re interested in growing your wealth while living in a safe, beautiful, and affordable country, it’s well worth considering Portugal’s golden visa. In exchange for investment funds of at least €250,000, you and your family can work, live, and study in Portugal for up to two years.  And as long as you stay in […]

401(k) & IRA Early Withdrawal Penalties: an Expat’s Guide

It’s usually not ideal to withdraw from retirement accounts before you reach retirement age. For one, withdrawing these funds early means you miss out on the exponential tax-free growth they can accrue over decades. What’s more, the IRS levies both a 401(k) early withdrawal penalty and an individual retirement account (IRA) early withdrawal penalty. With […]

Modified Adjusted Gross Income (MAGI): What US Expats Should Know

Most Americans know basic tax concepts and terminology, like income, credits, deductions, and exclusions. Phrases like modified adjusted gross income (MAGI), on the other hand, aren’t always as well-known. If you’re not familiar with MAGI, it can benefit you to read up on the concept. After all, understanding your MAGI can help you reduce your […]

RMD Taxation for US Expats Near Retirement: a Guide

After years of saving for retirement, if you hold qualified US retirement accounts, you’ll need to take required minimum distributions (RMDs) at some point. While the rules around RMDs and RMD taxation are complex — especially if you live outside of the United States — they’re also essential to understand when retirement planning in order […]

Continuing Education Tax Benefits: A Guide for Expats

Did you know you and your dependents can expand your knowledge and gain job skills while reducing your tax bill? The IRS offers a couple of different continuing education tax benefits, which can help offset higher education expenses by decreasing your tax burden. In many cases, even Americans attending an educational institution abroad are eligible […]

New York State Income Taxes: the Complete Guide for Expats

Many expats assume moving abroad means they don’t have any state tax obligations — unfortunately, it’s not always that simple. New York is one of several states that makes it difficult for former residents to sever tax ties. If you most recently lived in New York before moving overseas, you may need to file — […]

Cyprus Taxes: A Complete Guide for US Expats

If you’re looking for a country with stunning beaches, rich history, a lower cost of living, and healthy, delicious cuisine, you can’t go wrong with Cyprus. This Mediterranean island nation has long flown under the radar, but its reputation as an expat hotspot is on the rise. Of course, before moving there, it’s important to […]