01/31/2025
When you embark on the adventure of living abroad, you open yourself up to exciting experiences, diverse cultures, and tantalizing cuisines. However, if you’ve decided to pursue a side gig or fully embrace self-employment during your overseas journey, navigating your tax obligations becomes a bit more intricate. As a self-employed expat, understanding your income, tax […]
06/15/2021
At a summit on Saturday June 4 2021, the G7 group of countries agreed to establish a global minimum corporate tax rate, as well as a common way to tax the biggest international digital services companies. Background In the digital age, companies can sell services online in other countries without having a physical presence there. […]
06/14/2023
US mutual funds are a popular investment vehicle stateside and are frequently recommended as an affordable and convenient way to diversify investment portfolios. With that commonplace advice in mind, many expats consider investing in mutual funds based outside the US. Investing in foreign mutual funds, however, isn’t quite as straightforward as investing in a US-based […]
06/15/2021
The US tax system is unusual, in that the US taxes based on citizenship rather than residence. This means that all US citizens have to file US taxes on their worldwide income, even if they have to file foreign taxes too. This includes Americans living abroad, who have the same annual US filing and reporting […]
07/30/2024
Form 1118 is notoriously complex.
In fact, the IRS estimates that it takes about 25 hours to complete. Fortunately, as a US expat-specific tax firm, we’re familiar with Form 1118 and here to walk you through it: what it is, who should file it, how to complete it, and more.
06/12/2023
Without the right tax strategy in place, double taxation is a real possibility for US expats. That’s because the US is among a handful of countries that charges tax based on citizenship, rather than residence. Fortunately, expats can use the Foreign Tax Credit, among other legislated initiatives, to eliminate the prospect of paying tax twice. […]
10/06/2022
Over nine million US citizens are living abroad, including US military and diplomatic staff. According to US law, all of them who meet minimum IRS income requirements have to file a US tax return every year, reporting their worldwide income. Neither international tax treaties, nor where their income is sourced, nor whether US citizens living […]
06/15/2021
Many American expats assume that living abroad, or perhaps a tax treaty, exempts them from filing US taxes from overseas, so they are surprised to discover that the US requires all American citizens and Green Card Holders to report their worldwide income and that they still have to file. Many expats realize this after already […]
10/02/2024
Whether you’re an expat who owns and runs a foreign business or just holds shares in one, it’s important to understand the tax implications. After all, US taxes work differently for foreign businesses than for domestic ones. Unfortunately, they can be fairly complex — like taxes on controlled foreign corporations (CFCs) and passive foreign investment […]
06/15/2021
One of the long-term legacies of the Covid pandemic is forecast to be a widespread transition to remote working. Combined with a pent-up appetite for international travel, this is likely to mean that the next couple of years will bring a surge of interest in working remotely from abroad. Whether pursuing a dream to live […]