What’s New About the Foreign Earned Income Exclusion in 2019?

What’s New About the Foreign Earned Income Exclusion in 2019?

Living abroad is an incredible experience, so it’s easy to understand why over nine million Americans have made the move overseas. The American tax system is unusual though, in that expats are still required to file a US federal tax return, reporting their worldwide income, regardless of whether they are also filing foreign taxes or […]

Should Expats Report a Mortgage Account in an FBAR?

Should Expats Report a Mortgage Account in an FBAR?

Americans living abroad are required to file US taxes, reporting their worldwide income. To avoid paying any US taxes when they file, expats can claim one or more exemptions that the IRS has made available. There are also additional reporting requirements for US expats, notably reporting their foreign financial accounts annually by filing a Foreign […]

Happy New Year from the Team at Bright!Tax

Happy New Year from the Team at Bright!Tax

Happy new year from the team at Bright!Tax! What’s new at Bright!Tax 2018 was another exciting year for Bright!Tax, as we continued to grow, hone our client experience, and win further recognition for our services, notably when we were named Highly Commended in the Tax Provider of the Year category in the London FEM EMMA […]

US Expats Compliance Procedures – What You Need to Know

US Expats Compliance Procedures – What You Need to Know

American citizenship comes with rights and privileges, but also with an unusual obligation, in that all American citizens and green card holders, including expats, are required to file a federal tax return to the IRS every year, reporting their worldwide income. Many US expats are unaware of this obligation though, as it’s not logical, in […]

Taxes for US Expats – How Many Days Can I Spend in the US?

Taxes for US Expats – How Many Days Can I Spend in the US?

Because all American citizens and green card holders are required to file a US tax return, reporting their worldwide income, the IRS provides a number of exemptions that can be claimed that help expats minimize (and most often eliminate entirely) their US tax liability. These exemptions must be claimed when expats file their federal return […]

US Taxes for Expats – FBAR Filing Deadline 2019

US Taxes for Expats – FBAR Filing Deadline 2019

All American citizens and green card holders, including expats, are required to file an annual federal tax return, reporting their worldwide income. Filing a US tax return from abroad as an expat is typically more complex than filing in the US though due to additional filing requirements. For example, the majority of expats can avoid […]