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 […]
12/20/2023
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 […]
01/28/2025
United States Expats: Did you receive your three COVID-19 stimulus payments from the IRS? If not, you could be eligible to claim up to $3,400, but you need to act soon. Important context: The stimulus checks relate to the federal government’s initiative to offer some financial relief to individuals and families in the wake of […]
02/04/2025
Taxes for expats tend to be complicated, especially for US expats. If you’re a US citizen living abroad with questions about what the expat tax filing requirements are, you’re not alone. Some expats aren’t even aware they need to continue filing US tax returns while living overseas. Expatriate tax is a complicated realm for Americans […]
01/25/2025
More than 100,000 Americans live in Australia Australia is an incredible place to live for a variety of reasons – the laid-back culture, the warm climate, and the beaches, to name just a few. As an American expatriate living in Australia, though, what exactly do you need to know regarding filing US expat (and Australian) […]
02/03/2025
Many US citizens living overseas are surprised to learn about their obligation to file an annual tax return with the IRS. What if you’re already living and working in another country, and paying foreign tax on that income? How can you avoid double taxation? This is where the IRS Foreign Tax Credit (FTC) comes into […]