02/03/2025
Whether you’re selling inherited property or selling a gifted property, it’s important to understand the tax implications of the sale. While taxation works differently from one scenario to another, both can incur significant taxes. As a result, it’s best to do some research before making any formal commitments. This is especially true for expats, who […]
05/03/2024
Is it your dream to marvel at Santorini’s whitewashed homes and blue seas, hike in the Swiss Alps, or savor the creamy taste of genuine Florentine gelato? We’re sure it is. But 2025 will bring a key change for Americans seeking a European escape: the ETIAS visa waiver. While American citizens have not previously needed […]
03/17/2025
As an American expat, balancing your adventurous life with the practicalities of tax season is crucial. As 2025 unfolds, Bright!Tax is here to simplify the US tax process for you. This guide is your essential companion for the 2024 tax season, packed with all the key dates and insights to navigate your tax responsibilities with […]
03/17/2025
With the 2025 tax year just around the corner, changes to the US tax code are on the way. Some updates, income tax bracket adjustments, are pertinent to all Americans. However, several — like the Foreign Earned Income Exclusion (FEIE) threshold increase — are particularly relevant for expats. While it’s important to stay on top […]
02/25/2023
There are times in life when family members exchange generous gifts with one another, such as during weddings, estate planning, or celebrations of life. However, while the focus may be on the act of giving or receiving foreign property, it is important to be aware of the tax implications that come along with it. These […]
12/14/2023
For Americans living abroad, US taxes may feel like an “out of sight, out of mind” type of situation. However, the US’s citizen-based taxation system means that all citizens and permanent residents must file a tax return, regardless of where they live. To make matters more complicated, living abroad often triggers additional tax requirements and […]
01/30/2023
Every year, the IRS publishes an Annual Report. This report functions as a report card of sorts, dutifully noting its accomplishments and challenges. In 2022, the IRS collected over $4.9 trillion in gross revenue to fund much of the federal government. These funds go to supporting federal infrastructures, including our national parks, air traffic control, […]
02/02/2025
Whether or not you intend to retire abroad, there’s one thing you can never be too careful with: how you save for retirement right now. Retirement accounts for expats require careful research and planning, and for Americans living abroad, there are special considerations to take into account. In your sunset years, you’ll want to have […]
02/24/2024
On December 30th, 2022, the IRS made an announcement concerning a delay in the temporary US Taxpayer Identification Number (TIN) requirement associated with the Foreign Account Tax Compliance Act, commonly referred to as FATCA. This announcement principally concerns a group called “accidental Americans.” Accidental Americans are Americans who have spent little to no time living […]
04/28/2025
For some Americans moving abroad, filing taxes as an expat is the furthest thing from your mind. On the other hand, other Americans may already be researching how to claim the Foreign Earned Income Exclusion in preparation for their big move (more on this shortly!). No matter where you fall on the spectrum of preparedness […]