02/04/2025
All Americans whose income exceeds certain thresholds must file (and potentially pay) United States taxes. Due to the US’s system of citizenship-based taxation, this is true even for American citizens and resident aliens living abroad. But no matter what currency their income is issued in, US expats must report it in US dollars (USD) — […]
10/10/2022
If you’re an American citizen that lives overseas, then you need to know about IRS Form 1116. It’s the form that helps you claim the Foreign Tax Credit (FTC), which can save you from having to pay taxes both in your new home country and the US. Don’t forget that the US has a citizenship-based […]
10/04/2022
Ahh…The Bahamas. With beautiful sandy beaches, turquoise waters, world-class nightlife and dining, what more could a sun-craving American ask for? And on top of its gorgeous landscapes and relaxed lifestyle, the Bahamas is an attractive country for many expats due to its low taxes. This blog post will cover what taxes US expats in the […]
03/01/2025
While life as a digital nomad is an adventure, it’s important to keep practical matters — like digital nomad taxes — in mind, too. Moving to another country as an American doesn’t eliminate your US tax obligations. And if you also qualify as a tax resident in another country, that can significantly impact your finances. […]
02/01/2025
It’s common for many Americans living overseas and grappling with annual US tax returns to consider renouncing US citizenship. While factors like taxation often play a significant role in the choice to renounce, many expats also find themselves caught between the obligation to file taxes and the lack of knowledge to navigate the system effectively. […]
01/24/2025
Every year, people around the world feel shocked to discover that the US considers them to be tax residents. Regardless of how long it’s been since they lived in the US — or sometimes, whether they’ve lived there at all — these “accidental Americans” still have US tax and reporting obligations. And if they’re a […]
12/06/2024
If you’re a US expat looking to reduce your tax bill, it’s well worth looking into the Foreign Housing Exclusion (FHE). While it may not be as well-known as some of the other expat tax breaks, the FHE is a valuable tool to have at your disposal. Claiming the exclusion can help you offset foreign […]
12/13/2023
Globally-minded US entrepreneurs, location-independent contractors overseas, and freelancers abroad are trailblazers with unique tax needs: To understand how to file taxes for self-employed expats. Before any self-employment taxes (sometimes referred to as “SE tax“) are filed though, you’ll want to ensure that your global US tax strategy is maximum efficient. To accomplish this, you’ll need […]
04/23/2022
Americans have worked within a citizenship-based taxation system for well over 100 years. In other words, US citizens (as well as permanent residents) must report their worldwide income and file a federal tax return annually. Only in the last decade has this had any real impact on Americans living abroad. The Foreign Account Tax Compliance […]
03/28/2024
Wondering how to move abroad from the United States? You’re not alone. Whether you call it wanderlust, itchy feet, or travel fever, many people feel a calling to embark on adventures overseas. An estimated 5.4 million Americans live overseas, with more and more making the move every day. And with many countries having a lower […]