09/06/2024
If you’re about to sell (or are considering selling) a substantial amount in assets, the capital gains tax is likely top of mind. While capital gains taxes can be complex in general, Americans living abroad must take additional factors into account. Failing to weigh the tax implications before carrying out a sale can take a […]
03/19/2025
Tax compliance is a major consideration for any business owner, particularly when dealing with international tax obligations. Form 1120-F, U.S. Income Tax Return of a Foreign Corporation, plays a crucial role in how foreign corporations with U.S. business activities report their income and calculate their tax liabilities. Despite its importance, many international business owners are […]
06/15/2021
Over the last few years, lots has been written about moving to Puerto Rico as a tax haven. Around 2,000 Americans are known to have moved to Puerto Rico for this reason to reduce their US tax bill. The only reason more haven’t joined them is that to take advantage of the tax breaks Puerto […]
03/18/2021
Adjusting to living abroad takes planning, especially when it comes to your finances and health. Healthcare and health insurance, in particular, come with their own challenges abroad. In this article, experts from International Citizens Insurance share the most common insurance challenges and solutions for American expats. Challenges of Local healthcare abroad Healthcare in the United States ranks as one […]
06/28/2024
Dual citizens, or dual nationals, are citizens of two different countries. Dual citizenship was prohibited in most countries in the nineteenth and early twentieth centuries, however the United States has allowed Americans to be dual citizens since 1967. Dual nationality is most often acquired either through parentage, or through naturalization (obtaining a second citizenship through […]
06/15/2021
According to the IRS, round a million Americans are living abroad and not filing US taxes. (Would it help us to cite your source?) The requirement for Americans living abroad having to file US taxes on their global income was introduced way back during the Civil War, however it’s only in the last few years […]
10/04/2022
A gift to a foreign spouse (a Nonresident Alien or NRA spouse in IRS speak), can be an effective strategy for Americans living abroad to reduce their US tax bill. Americans living abroad married to a foreign spouse are required to file US taxes on their global income every year. This is true of all […]
04/05/2022
All Americans have to file US taxes, reporting their global income, including Americans living abroad. Many Americans who live abroad (as well as many living in the US) own foreign real estate, and they often wonder whether it needs reporting on their American tax return, and if so how. All Americans who have certain foreign […]
02/15/2021
Over 9 million Americans live overseas, and every year the number is growing. Every year however, many Americans move back to the US, too. All American citizens are required to file US taxes, reporting their global income, including Americans living overseas. What happens when Americans move back to the US mid-year though? In this article we […]
03/27/2023
This post was last updated March 27, 2023. According to World Population Review, Canada is second only to Mexico as the most preferred destination by American expats. Between Canadian friendliness and endless natural beauty, what’s not to love? For many Americans living in Canada, there’s an added bonus: proximity to the US. Considering these factors, […]