04/19/2018
Thanks to Germany’s consistently strong economy, Frankfurt is one of the most popular European cities for US expats, with tens of thousands Americans living there. Frankfurt is a great place to live. Its culture and nightlife, cuisine, high-quality public services, and great access to the rest of Germany (and indeed the rest of Europe) together […]
04/16/2018
Trump promised to deliver tax reform, lowering tax rates and incentivizing multinationals to repatriate and pay US tax on their overseas earnings. While lowering tax rates hasn’t impacted the majority of expats, as they are able to claim one or more exclusions when they file that most often relieve them of any US tax liability, […]
04/12/2018
Americans living abroad are subject to the same tax filing requirements as Americans living stateside. The requirement for expats to file an annual federal return declaring their worldwide income dates back to the Civil War, however it’s only since 2010 when the Foreign Account tax Compliance Act (FATCA) was passed that the IRS has been […]
04/09/2018
Trump’s 2016 election campaign promised tax reform, and in December 2017, after just under a year in office, he delivered on his campaign promise by signing into law the Tax Cuts and Jobs Act. The bill was written and passed quickly, and as any tax cuts had to be funded by other measures, many people’s […]
04/05/2018
It may leave many US citizens living overseas scratching their heads, but US expats are required to file an annual federal US tax return, reporting their worldwide income, despite living abroad, if they earn over $10,000 a year, or just $400 of self-employment income. When they file, expats can claim one or more exclusions such […]
03/30/2018
Bright!Tax is immensely proud to announce that we’ve been named as a finalist for the 2018 FEM Americas EMMA awards in two categories: Expat Tax Provider of the Year, and Expatriate Banking and Financial Services Innovation. The Forum for Expatriate Management (FEM) inspires, informs and unites the Global Mobility community … … via an online […]
03/29/2018
With just two weeks to go until the first expat tax deadline in 2018, it’s a timely moment to look at the most important factors expats should consider when choosing an expat tax accountant. US Taxes for Expats All Americans abroad who earn over $10,000 (or just $400 of self-employment income) are required to file […]
03/26/2018
Because the US taxes based on citizenship rather than residence, American expats are still required to file an annual federal tax return declaring their worldwide income, the same as if they were living stateside. Expats may have further filing requirements too if they have foreign assets or bank or investment accounts held at foreign […]
03/22/2018
US expats are unfortunate in that they have to file US taxes on their worldwide income, often besides filing taxes in the country where they live. There are ways to avoid double taxation, such as by claiming IRS exemptions like the Foreign Tax Credit and the Foreign Earned Income Exclusion, or by choosing to live […]
03/16/2018
The IRS has announced the imminent end of the Offshore Voluntary Disclosure Program that allows expats who aren’t compliant with their filing and offshore account and asset reporting to catch up and avoid prosecution. Acting IRS Commissioner David Kautter said: “Taxpayers have had several years to come into compliance with U.S. tax laws under this […]