05/08/2024
It’s one of the most common questions among those evaluating business structures: What is a reasonable owner salary for an S corp? Knowing what a reasonable salary is — and how to determine one — is essential to reaping the benefits of S corp status. In the right circumstances, those benefits can be significant. Forming […]
04/29/2024
I can do my own taxes; why would I pay someone to do them for me? Have you ever said this but then regretted it? Don’t worry, we get it. People start out thinking — how hard can it actually be — then end up tangled in forms, calculations, and deadlines, horrified they might have […]
04/21/2024
Depending on your goals, the right business structure can help you reduce administrative burden, facilitate company growth, or shield you from personal liability — as well as have major tax benefits. If you’re a self-employed US expat, you may have wondered about the differences between the three most common options: LLCs, S corp and C […]
04/19/2024
Whether you’re running a business from your US home or while living abroad, buckle up. There’s a new document in town you’ll need to fill out—the Beneficial Ownership Information Report (BOIR). It sounds fancy, but think of this report as a way to introduce yourself and your business partners to the US government. Why the […]
04/19/2024
At Bright!Tax, we believe in leveraging our resources to foster a brighter future. Through our Bright!Lights project, we channel our commitment to philanthropy by supporting initiatives that not only promise innovation but also have a profound impact on global well-being. Each project under Bright!Lights is carefully selected to ensure that our contributions meaningfully advance community […]
04/10/2024
Americans looking to move to a beautiful, safe, and relatively affordable country in their golden years may want to retire in Costa Rica. Whether you want to relax, go on adventures, or indulge in a bit of both, Costa Rica’s got you covered. And with a dedicated retirement visa, moving there is much more attainable […]
04/09/2024
Budgeting as a digital nomad can be tricky, but it’s essential. Travel expenses can add up quickly, and you don’t want to run out of funds in a foreign country. That said, it’s definitely possible to travel — even for an indefinite amount of time — without breaking the bank. Below, we’ll go over everything you […]
04/03/2024
Exploring the best countries to teach English and save money? You’ve come to the right place to learn about the top locations around the world for those looking to travel, make money, and pursue a rewarding career. With quite a few countries offering high salaries, low taxes, a low cost of living, and sometimes even […]
03/28/2024
Italy’s digital nomad visa has had buzz around it ever since the government first announced plans to offer one in March 2022. Between the country’s fascinating history, beautiful vistas, and incredible cuisine, it’s no wonder Italy is the fifth most-visited country in the world. For a long time, however, would-be applicants were in the dark […]
03/21/2024
As a digitally savvy expat, you likely have some experience with money service providers and payment systems like Wise, PayPal, and others. And it’s all fun and games until it’s time to file your FBAR (Report of Foreign Bank and Financial Accounts), the annual disclosure of your foreign financial accounts held outside the US. Generating […]