10/03/2019
Over 9 million Americans have chosen to embrace the adventure of a lifetime – living abroad. Many don’t realize though that the US tax system requires all US citizens to file US taxes, reporting their worldwide income, wherever in the world they might be. In contrast, most other countries either just tax residents, or just tax income […]
09/23/2019
Americans living abroad are subject to US taxation on their worldwide income, as well as a raft of other US reporting requirements, such as having to report their foreign financial accounts each year by filing an FBAR (Foreign Bank Account Report). FBAR reporting is triggered if any American has a total of over $10,000 in foreign accounts […]
09/19/2019
Digital Nomads are a new breed of American hero, roaming the world while working remotely. The Nomad lifestyle allows Americans to explore far off lands and cultures without taking time off work, and it can also offer tax advantages, as well as providing an opportunity to live cheaply and save money. Understanding US tax rules is an […]
09/16/2019
Following the recent revelations that hundreds of thousands of Accidental Americans around the world face having their bank accounts closed at the end of 2019, the IRS has announced a penalty and tax free path that will allow many of these individuals to renounce their US citizenship without paying any penalties, and so keep their […]
09/12/2019
Bright!Tax is proud to support ACA’s residency-based taxation campaign that aims to alleviate the current requirement for Americans living abroad to pay US taxes on their worldwide income. Every day, the team at Bright!Tax talks to expats around the world and hears first hand how their lives are affected by the US tax system. ACA […]
09/09/2019
Many US expats are surprised to learn that they are still required to file US taxes from overseas. While it’s true that all American citizens have to file though, reporting their worldwide income, wherever in the world they live, it’s also true that the majority of expats don’t end up owing any US income tax […]
09/05/2019
Confusion abounds around the topic of US citizens living abroad and taxes. In this article we’re going to clear up a few common misunderstandings and set the record straight. Do US citizens living abroad have to file US taxes? Yes. All US citizens, including those living abroad, who earn more than the Standard Deduction amount […]
09/02/2019
Following recent revelations that up to 40,000 Americans living in France are at risk of having their bank accounts closed at the end of this year, it transpires that US expats who haven’t provided their foreign bank with their social security number or ITIN (Individual Taxpayer Identification Number) around the world are faced with the same […]
08/29/2019
Millions of Americans living abroad aren’t aware that all American citizens are required to file US taxes, reporting their global income, wherever in the world they live. The requirement for Americans living abroad to file is an anomaly that dates back to the Civil War, when the federal government was desperate for revenue at a […]
08/19/2019
Every year, global bank HSBC carries out the world’s largest and most influential survey of expats to find out what issues they face and more importantly, which are the best countries to live in. While for the last four years the results have been fairly similar, this year’s survey of over 18,000 expats in 33 […]