11/15/2022
California isn’t all sun, surf, and sand. Unfortunately, the Golden State is also home to the highest state tax rates in the US. On top of that, the state of California’s Franchise Tax Board (FTB) is known as one of the biggest sticklers among state tax bodies. As a result, some former California residents are […]
11/14/2022
At first glance, the term “Accidental Americans” doesn’t make a whole lot of sense — after all, how do you become an American by happenstance? But the truth is, Accidental Americans are surprisingly common. One banking organization put the figure at around 110,000, which is believed to be a very conservative estimate. As American persons, […]
11/10/2022
*Note: The figures noted as the financial requirements should be confirmed directly with the appropriate Spanish government website at your time of application. This is because Spain is raising the minimum wage threshold, which will impact the associated financial requirements for digital nomads. The Spain digital nomad visa offers an exciting opportunity for US citizens […]
11/08/2022
If you’re a US citizen or resident married to someone who doesn’t have financial ties to the US, you might have wondered if they are eligible for spousal social security benefits. Fortunately, there are a number of different circumstances in which they can be. Read on to find out what these benefits include, who is […]
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 […]