11/26/2020
Thanksgiving is a time when the thoughts of the nine million Americans who live abroad turn to home, as well as how best to celebrate. With no other country celebrating Thanksgiving (other than Canada, in October, due to an earlier harvest further north), celebrating abroad as an expat presents all sorts of logistical challenges. As […]
11/23/2020
It’s an unusual year in multiple ways, and this is also true when it comes to 2020 year-end tax planning. Both the Coronavirus pandemic and the presidential election will affect year-end tax planning for some expats this year. While the pandemic has affected the Foreign Earned Income Exclusion rules, tax changes next year due to […]
11/19/2020
While the election result hasn’t been universally acknowledged and confirmed yet, it seems probable at this stage that Joe Biden will be inaugurated in January as the next US president. All Americans, including those living abroad, are required to file US taxes every year, reporting their global income. Most claim IRS provisions such as the […]
11/16/2020
Last updated March 23, 2023. It seems that impactful external events may trigger introspection with regard to nationality. For example, the two years with the highest number of US citizenship renunciations ever were 2020 (6,705) and 2016 (5,411). Deciding to renounce US citizenship is a highly personal choice that comes with many life-changing implications. US […]
11/12/2020
American citizens (and Green Card holders) who live abroad are required to file US taxes annually, reporting their worldwide income. This requirement to file from abroad is because the US taxes based on citizenship, rather than on residence like the majority of other countries. Expats also often have other filing requirements that Americans living in […]
11/09/2020
It has been estimated that there are several thousand Americans living in Bangladesh. Living in Bangladesh is an wonderful experience for a number of reasons, including the friendly locals, the exotic culture, and the quality of life. As an American expatriate living in Bangladesh though, what exactly do you need to know regarding filing US expat (and Bangladeshi) taxes? […]
11/05/2020
Americans living abroad are required to file a US tax return every year, reporting all of their global income. No other developed nation requires expats to file in this way. American expats often have to file a foreign return too, and understand how the two different tax systems converge. Furthermore, expats are subject to additional […]
11/02/2020
The IRS has announced federal Tax Rates and Brackets, the Standard Deduction amounts, and the Foreign Earned Income Exclusion threshold for US expats for tax year 2021 (so for filing in 2022). The figures for tax year 2020, for filing in 2021, were announced a year ago. The 2021 figures may still change, however, if […]
10/29/2020
The US tax system is based on citizenship, which means that American citizens living abroad are required to file US taxes every year, reporting their worldwide income. As American expats often have to file foreign taxes too (depending on the rules in the country where they live), they get longer to file, with expats’ tax […]
10/22/2020
American expatriate tax laws are unusual, in that they apply to all Americans citizens around the world, rather than just US residents. US expatriate tax laws can be divided into two categories: laws relating to tax filing and financial reporting requirements for Americans living abroad, and laws relating to Americans renouncing their US citizenship. US […]