06/10/2022
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 […]
06/07/2022
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 […]
06/07/2022
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. […]
06/03/2022
It’s already been 12 years since congress introduced the Foreign Account Tax Compliance Act (FATCA). Whew, time goes fast, doesn’t it? The federal law requires that participating countries report the financial activities of US citizens on their soil. And after an in-depth review of how FATCA has held up, the Treasury Inspector General for Tax […]
06/02/2022
Americans living overseas may not be aware of a key rule: all US expats are required to file a US tax return. If you’re an American expat living abroad, Tax Day, June 15, 2022, is approaching fast. But, if you’re not quite prepared to file your tax return, you have some options. While you can […]
05/31/2022
Home is where the heart is, they say. Even as you’re sipping a margarita on the beaches of Cancun or taking those cheesy selfies at the Eiffel tower, sometimes, you just miss the good ol’ US of A. However, if you’ve been living overseas and haven’t returned in a while, you may get some surprises […]
05/27/2022
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. […]
05/25/2022
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 […]
05/23/2022
Moving overseas to live and work in a new country can be stressful. It’s not easy to sell your things, say goodbye to loved ones, and adapt to a new culture. Additionally, the potentially high costs of moving overseas prohibit many Americans from taking the leap. Since the US has a citizenship-based taxation system, you’ll […]
05/03/2022
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 […]