03/30/2021
Because the US taxes based on citizenship, American expats have to file US taxes from abroad, reporting all of their global income. Many Americans also have to file foreign taxes too, depending on the rules in the country (or countries where they live). Americans also often have to report their foreign registered bank and investment […]
04/05/2022
If living abroad requires courage and mental fortitude, in return it rewards expats with the experience of a lifetime. Americans who live abroad still have to file US federal taxes though, reporting their global income. Many also have to file foreign taxes in the country where they live, and possibly US state taxes, too. This […]
01/13/2021
An estimated 700,000 British expats live in the US, and the majority have relocated to further their careers. When Brits move to the US for work, they often already have a work permit or Green Card. This places them within the US tax system. The US tax system has significant differences to, and is generally […]
09/03/2020
As we approach the end of year holidays, it’s a good time for expats to take stock and do some year-end tax planning. Year-end tax planning for expats falls into two broad categories: minimizing year 2019 taxes, and planning ahead for 2020. Minimizing year 2019 taxes Ensure that you qualify for the Foreign Earned Income […]
09/03/2020
Each year the IRS adjusts tax brackets, the Standard Deduction, and exclusion thresholds for inflation. Last week the IRS announced the new figures for 2020. These will be applied to the year from January 1st to December 31st 2020, the 2020 tax year, for which expats (along with Americans living stateside) will file in 2021. […]
11/29/2024
Charles Schwab, the US brokerage firm, has written to its European based clients, including many US expats, to tell them that it’s shutting down its UK operations. According to US Expat Investing Charles Schwab clients in the UK and the rest of Europe are being informed that they have until the end of the year […]
01/29/2025
All Americans, including expats, are required to file US taxes every year, reporting their global income. Tax Treaties don’t inherently prevent expats from having to file or pay US taxes. Instead, expats can claim IRS provisions to achieve this by filing additional forms when they file their federal return. These provisions include the Foreign Tax […]
09/03/2020
Following recent news that the IRS wrote to over 10,000 Americans (including expats) whom they believe hold Bitcoin or other virtual or cryptocurrency accounts informing them that they may owe tax, the IRS provided new guidance last week on how to report cryptocurrencies and in what circumstances they may be liable to taxation. Furthermore, the IRS […]
05/17/2025
Many UK citizens (as well as citizens of other countries) live or work in the US at some point, and they often acquire Legal Permanent Resident status, also known as a Green Card. When returning to the UK (or another country) though, the question arises about whether they should retain their US green card or […]
05/17/2025
The US requires all Americans to file US taxes every year, reporting their worldwide income. This includes Americans living abroad. Additionally, American expats have to claim exemptions such as the Foreign Tax Credit and the Foreign Earned Income Exclusion to reduce their US tax bill. Most US taxpayers living abroad can reduce their US tax bill to […]