11/07/2022
The IRS requires all US persons to file taxes… But how might one define a US person for tax purposes? It might seem like a pretty straightforward question, but the answer can be surprisingly complex. Read on to learn what a US person is, what their tax obligations are, and more. Are you a US […]
11/03/2022
While you may never have filed it while living within the United States, Form 1116 is a key component of many US expat tax returns. This form allows you to claim the Foreign Tax Credit (FTC), one of the most important tax breaks for Americans living abroad. Many expats who pay taxes abroad find that […]
11/02/2022
If you’re an expat, chances are you’ve toyed with the idea of moving your retirement account overseas with you. But how do you do it, and what does it mean for your taxes and reporting requirements? The financial implication of moving your US retirement account overseas will depend on, among other things, the type of […]
10/31/2022
It’s not always easy to get detailed information about green cards. The US Citizenship & Immigration Services (USCIS) website can be technical and dense, which may leave you even more confused. As a dedicated tax firm for US immigrants and Americans abroad, we’re well familiar with green cards — so we’ve put together a brief, easy-to-understand guide.
10/27/2022
The COVID-19 pandemic hit many families hard financially, with countless businesses closing and people losing their jobs during lockdowns. On top of that, according to USDA data, raising a middle-class child from birth to 17 years old (after adjusting for inflation) costs around $286,000. That’s up from $233,610 back in 2015. Given these challenging times, […]
10/26/2022
When most people think about income taxes, they think about the taxes that are automatically withheld from their paycheck — or, if they’re self-employed, the quarterly tax estimates they pay to the government based on their expected earnings. While that does make up one component of income taxes, it’s not the only one. It’s important […]
10/24/2022
It stands to reason that those living in the US count as residents for tax purposes. But did you know that those who frequently visit for work may be subject to US taxes, too? To know exactly what your obligations are, you’ll need to understand the difference between a nonresident alien vs. a resident alien […]
10/21/2022
FATCA, or the Foreign Account Tax Compliance Act, is a set of rules intended to enhance tax compliance by American taxpayers who hold financial assets outside the United States. If you’re like many taxpayers with accounts or other financial activities abroad, you’d want to know whether FATCA applies to you so you can file the […]
10/19/2022
Even just a decade ago, the term “digital nomad” would likely have been met with looks of confusion. Flash forward to today, though, and it’s become a household phrase. With the COVID-19 pandemic leading to an explosion in remote work, more Americans than ever are taking advantage of this newfound flexibility to travel the world […]
10/17/2022
In 2023, it’s never been easier to become a digital nomad or a worker who leverages technology to travel worldwide. This is, in part, thanks to the rise of remote work, which is offering more and more people the opportunity to work from home or travel while living overseas. Portugal, in particular, has become a […]