05/24/2018
US citizens are required to report their worldwide income to the IRS by filing a federal tax return each year, regardless of whether they live in the US or abroad, whether they are paying foreign taxes or not, or whether they live in a country which has a tax treaty with the US or not. […]
05/22/2018
Japan is one of the most popular Asian destinations for US expats, with tens of thousands of Americans living there. Tokyo is a thrilling place to live. Its exotic, unique, modern meets traditional culture, its frenetic pace, the cuisine, and the incredible orderliness for such a big, crowded city all guarantee American expats in Tokyo […]
05/17/2018
America has an unusual tax system, as it’s based on citizenship rather than residence. This means that all US citizens (and green card holders) are required to file US taxes, whether they live in the US or abroad. Nine million Americans are currently living abroad, however many of them aren’t aware of the requirement for […]
05/14/2018
Book, containing information about all US tax returns filed and taxes paid in 2017. Sifting through the data, one statistic stands out for expats in particular: international US taxpayers are much more likely to be audited compared to Americans living in the States. The figures are stark: overall, around 0.5% of tax returns were audited. […]
05/10/2018
Americans living abroad are required to continue filing US taxes just as if they were still living in the States, reporting their worldwide income. In fact, filing US taxes is often more complex for American expats than for Americans living in the States, as they often have extra reporting requirements under FATCA or FBAR, while […]
05/07/2018
All American citizens and green card holders whose annual income exceeds $10,000, or just $400 of self-employment income, are required to file a US tax return every year reporting their worldwide income. Unlike most other countries, the US tax system doesn’t recognize Americans who live abroad as being any different to those who live stateside, […]
05/03/2018
Americans living overseas are required to file US taxes reporting their worldwide income, just the same as if they were living in the States. Filing from abroad has been a requirement for US citizens and green card holders since the Civil War, however it’s only been since FATCA (the 2010 Foreign Account Tax Compliance Act) […]
04/26/2018
Retiring abroad is more popular that ever, as Americans aim to maximize the healthcare and quality of life benefits available from their retirement income. A better climate and a sense of adventure are also factors leading many Americans to become late life expats. US tax rules and filing requirements are the same for Americans living […]
04/20/2018
Donald Trump’s long promised tax reform bill was finally signed into law just before Christmas 2017. The Tax Cuts and Jobs Act wasn’t the Christmas present many expats were hoping for though, as it didn’t address Americans living abroad having to file US taxes. The worst affected though are the tens of thousands of expats […]
04/20/2018
(The following article first appeared at eurekawealthmanagement.com) If you are lucky enough to live overseas, you face unique challenges that are all too familiar. Putting a financial plan together may help reduce some of the uncertainty around your finances as you navigate your way through a foreign system. Whether retired or working abroad, you may […]