02/02/2025
US expats who live abroad make money in many different ways. Your employer in the US might offer you a position in another country or you may decide to travel and start your own business. Whether you’re freelancing or working for a traditional employer, you might also consider investing in property abroad. This could help […]
10/06/2022
According to estimates from the US Department of State, over nine million Americans live abroad. And now that they left the US behind, it also makes sense to leave their state tax obligations behind, right? Surprise, surprise, that’s not always the case. Sometimes even thousands of miles away from the US, American expats may still […]
05/18/2023
Canada has charming cities, natural beauty, and close proximity to the US. Given that, it’s no wonder that the Great White North is the number two destination for Americans living abroad! However, US expats should be aware that living in Canada can complicate your US taxes. All American expatriates living in Canada still need to […]
05/16/2023
Filing your US taxes as an expat can get complicated – even more so if you start a business while you’re abroad. As a US citizen who owns a foreign business, you have additional tax reporting requirements. US taxes are based on citizenship status, not residency. Therefore, Americans living abroad who own businesses (even sole […]
02/04/2025
Japan. The land of sushi, Pokémon, incredibly fast bullet trains, and high-tech toilets that can even play music during your bathroom sessions. While the year is 2022, it feels like the Japanese are living in 3022. Japan is also the country that tens of thousands of American expats call home. According to recent data, currently, […]
10/24/2023
When it comes to US expat taxes, there’s a lot to handle. Expats must file various forms depending on their situation (such as the FBAR or Foreign Tax Credit) and comply with strict IRS deadlines. Something that may go over the heads of US expats as they file their tax returns, however, is Social Security. […]
01/26/2025
Form 5471, which the IRS calls “Information Return of US Persons With Respect To Certain Foreign Corporations”, is an informational return that US taxpayers with shares in a foreign corporation must file. Whether you need to file Form 5471 depends on the percentage of stock you own in a foreign corporation.
07/11/2023
Living abroad as a US expat can open you up to new opportunities – particularly when it comes to your career. Depending on your future goals, you may even decide to go into business for yourself. If you do, it’s important to understand how forming your own foreign corporation can impact your taxes, particularly with […]
02/03/2025
For different reasons, many Americans dream of buying a home overseas. Some want to escape the hectic lifestyle of the US and spend their last days relaxing and tanning on the beaches of Punta Cana. Others see it as an investment opportunity and want to use the foreign property as a source of passive income […]
06/13/2024
While it may not seem fair, all Americans — even those living abroad — who earn above a certain threshold must file a US tax return. If you didn’t previously understand your tax and reporting obligations, though, you’re not alone. Fortunately, you may be able to catch up penalty-free with the help of IRS Form 14653. […]