05/16/2023
Filing your US taxes as an expat can get complicated – even more so if you start a business while you’re abroad. As a US citizen who owns a foreign business, you have additional tax reporting requirements. US taxes are based on citizenship status, not residency. Therefore, Americans living abroad who own businesses (even sole […]
05/17/2025
Japan. The land of sushi, Pokémon, incredibly fast bullet trains, and high-tech toilets that can even play music during your bathroom sessions. While the year is 2022, it feels like the Japanese are living in 3022. Japan is also the country that tens of thousands of American expats call home. According to recent data, currently, […]
10/24/2023
When it comes to US expat taxes, there’s a lot to handle. Expats must file various forms depending on their situation (such as the FBAR or Foreign Tax Credit) and comply with strict IRS deadlines. Something that may go over the heads of US expats as they file their tax returns, however, is Social Security. […]
03/31/2025
Form 5471, which the IRS calls “Information Return of US Persons With Respect To Certain Foreign Corporations”, is an informational return that US taxpayers with shares in a foreign corporation must file. Whether you need to file Form 5471 depends on the percentage of stock you own in a foreign corporation.
07/11/2023
Living abroad as a US expat can open you up to new opportunities – particularly when it comes to your career. Depending on your future goals, you may even decide to go into business for yourself. If you do, it’s important to understand how forming your own foreign corporation can impact your taxes, particularly with […]
02/03/2025
For different reasons, many Americans dream of buying a home overseas. Some want to escape the hectic lifestyle of the US and spend their last days relaxing and tanning on the beaches of Punta Cana. Others see it as an investment opportunity and want to use the foreign property as a source of passive income […]
03/07/2023
Uncle Sam and American expats aren’t exactly the best of friends. Regardless of where they live, American citizens have to declare their worldwide income to the IRS, and many aren’t even aware of this. Yep, you heard that right. That’s because the United States is one of only two countries that applies citizenship-based taxation. And […]
05/17/2025
Just like taxpayers on US soil, Americans abroad typically have one or more bank accounts to receive their income and facilitate payment of living expenses. For expats, the fact that these accounts for everyday financial management are foreign creates an additional U.S. Treasury reporting requirement called the FBAR, or the Foreign Bank Account Report. For […]
10/04/2022
Becoming an expat can enhance your life in many ways. For many, it may mean you’re no longer beholden to a standard 9 to 5 schedule, and instead free to explore different cities and countries, on your schedule. But, while working remotely offers more flexibility and freedom, it also comes with some important tax reporting […]
10/04/2022
If you’re an American living outside the US, you may not be aware that you’re required to file a US tax return each year. While US expats receive an automatic two-month extension to file, what happens if the due date rolls around and you miss it? Not paying your taxes is a habit you don’t […]