10/06/2022
The IRS Standard Deduction allows Americans to deduct a fixed amount of their income from US tax when they file their federal return. The Standard Deduction lets Americans avoid the hassle of itemizing their actual deductions when they file. The amount of the Standard Deduction was very low before the 2017 Tax Cuts and Jobs […]
10/06/2022
Americans living abroad – 2022 IRS tax filing opens this year on Monday January 24. Overseas Americans have to file US taxes on their worldwide income just like Americans living in the States. This is because, unlike most countries, the U.S. taxes based on citizenship, regardless of where you live in the world. Filing as […]
01/25/2025
Due to the increased availability of work-from-anywhere jobs, more and more Americans are choosing to live and work abroad. Given the many benefits of raising children abroad, such as a lower cost of living, great schools and public services, and foreign language and cultural immersion, it’s no surprise that many of these folks are parents. […]
03/19/2025
Over a million Americans have retired abroad, and millions more aspire to. The most common benefits include a better climate, affordable healthcare, and a better standard of living on retirement income. The most popular destination for Americans retiring abroad is Mexico, due to the twin appeals of its proximity and affordability. Many folks move there […]
11/29/2024
Americans who move abroad are required to continue filing US taxes, reporting their worldwide income. This means that American citizens abroad often have to file two tax returns. The tax treaties that the US has with around 100 other countries don’t mitigate the risk of double taxation either, as they contain a ‘saving clause’ meaning […]
12/17/2021
The Bright!Tax Awards Committee is proud to announce that Natalie Heath has become the twelfth recipient of the Bright!Tax Global Scholar Award. The Award is a biannual scholarship for ambitious, inspirational young Americans who are studying overseas. Bright!Tax is the leading provider of US tax services for the 10 million Americans living abroad. Bright!Tax founder […]
02/02/2025
A move abroad doesn’t relieve Americans of their United States tax obligations, but it does frequently qualify them for major tax breaks. In fact, leveraging the right tax exclusions, credits, and deductions often allows expats to reduce — or even completely erase — their US tax bill. Among these key expat tax breaks is the […]
12/06/2023
Considerations around taxes in Colombia for foreigners are hardly top of mind when expats move there — and between its beautiful beaches, friendly people, and affordable cost of living, it’s not hard to see why. Of course, taxes are an inescapable part of life for everyone, but especially US citizens and permanent residents. Before moving, […]
04/07/2025
The Foreign Bank Account Report (FBAR) — aka FinCEN Form 114 — is a widely misunderstood reporting obligation. Unfortunately, failing to file it when required can lead to severe consequences. Whether you’ll be filing for the first time ever or just want to brush up on your knowledge, we’re here to help. Below, we’ll dive […]
02/24/2025
While living in Portugal can seem like a dream — the gorgeous beaches, the pleasant climate, the rich culture — it’s important to consider practical matters, too. Given how much it can impact your finances, one of the chief items worth looking into is taxes in Portugal for expats. In addition to being subject to […]