02/25/2023
There are times in life when family members exchange generous gifts with one another, such as during weddings, estate planning, or celebrations of life. However, while the focus may be on the act of giving or receiving foreign property, it is important to be aware of the tax implications that come along with it. These […]
02/03/2023
For Americans living abroad, US taxes may feel like an “out of sight, out of mind” type of situation. However, the US’s citizen-based taxation system means that all citizens and permanent residents must file a tax return, regardless of where they live. To make matters more complicated, living abroad often triggers additional tax requirements and […]
01/30/2023
Every year, the IRS publishes an Annual Report. This report functions as a report card of sorts, dutifully noting its accomplishments and challenges. In 2022, the IRS collected over $4.9 trillion in gross revenue to fund much of the federal government. These funds go to supporting federal infrastructures, including our national parks, air traffic control, […]
01/25/2023
Whether or not you intend to retire abroad, there’s one thing you can never be too careful with: how you save for retirement right now. Retirement accounts for expats require careful research and planning, and for Americans living abroad, there are special considerations to take into account. In your sunset years, you’ll want to have […]
01/21/2023
On December 30th, 2022, the IRS made an announcement concerning a delay in the temporary US Taxpayer Identification Number (TIN) requirement associated with the Foreign Account Tax Compliance Act, commonly referred to as FATCA. This announcement principally concerns a group called “accidental Americans.” Accidental Americans are Americans who have spent little to no time living […]
01/20/2023
For some Americans moving abroad, filing taxes as an expat is the furthest thing from your mind. On the other hand, other Americans may already be researching how to claim the Foregin Earned Income Exclusion in preparation for their big move (more on this shortly!). No matter where you fall on the spectrum of preparedness […]
01/16/2023
United States Expats: Did you receive your three COVID-19 stimulus payments from the IRS? If not, you could be eligible to claim up to $3,400, but you need to act soon. Important context: The stimulus checks relate to the federal government’s initiative to offer some financial relief to individuals and families in the wake of […]
01/15/2023
Are you an American living in another country who’s not sure how to pay United States expat taxes? You’re far from alone — in fact, many don’t even know whether or not they need to file taxes. Unfortunately, for those who do need to, filing taxes from abroad is often more complex than filing them […]
01/10/2023
Remote working is a growing global trend, particularly working remotely for a foreign company as a digital nomad. Although living in different places around the world while working from a laptop may sound great in theory, there are certain practical matters to bear in mind before embarking on this journey. Many people don’t realize that […]
01/06/2023
There are an estimated 110,000 Americans living in Australia Australia is an incredible place to live for a variety of reasons – the laid-back culture, the warm climate, and the beaches, to name just a few. As an American expatriate living in Australia, though, what exactly do you need to know regarding filing US expat […]