02/24/2024
Hidden deep within the proposed 2016 Federal Budget is a clause that seeks to bring some relief to so-called Accidental Americans. Accidental Americans are people who don’t know that they are American citizens, or who didn’t know before adulthood. They typically fall into one of two groups: people who were born in the US to […]
01/24/2025
It’s easy to understand why so many Americans choose to live, work, or retire in Mexico. If anything, it’s hard not to envy them. Mexico’s beaches, Spanish colonial cities, climate, delicious cuisine, and friendly people make for an incredible combination. Americans living in Mexico are still liable to file an annual federal tax return […]
01/19/2021
US citizens and green card holders living abroad are required to report their worldwide income to the IRS. They may also have to pay foreign income tax in their country of residence. Paying the full rate of tax on the same income to two different countries is called double taxation. The Foreign Tax Credit is […]
10/26/2020
US citizens and green card holders who live and work outside the US may be able to exclude part or all of their foreign earned income (both wages and income from self-employment) from US tax using the Foreign Earned Income Exclusion (FEIE). To qualify for the FEIE, a person needs to both work and live […]
06/17/2020
Greg Dewald, Bright!Tax CEO Following in the trailblazing footsteps of some of America’s most innovating and exciting new businesses, entrepreneur Greg Dewald and his team of financial whizzes will see their cloud based start-up Bright!Tax reach thrilling new heights this year after being chosen to receive seed capital from one of United States’ most progressive […]
09/03/2020
For three years now, the U.S. Internal Revenue Service has moved to deploy a massive dragnet to stop tax cheats from stashing cash offshore. The crackdown hinges on identifying every account held by every American anywhere in the world, no matter how small. Collect everything to nab and punish relatively few big law breakers. The […]
09/05/2020
Robert W. Wood – The number of Americans renouncing United States citizenship or terminating long-term residency is on a record pace. Every 3 months, the government publishes the names of individuals who renounced U.S. citizenship or gave up a green card. This public outing puts Americans on notice who relinquished their rights. For January to […]
09/03/2020
“FATCA was created in part because of the fear of the United States government that the globalization of finance would give far more people the opportunity to hide their money. It was becoming very clear that it wasn’t going to be just the very wealthy, but that it could really be the middle class and […]
01/29/2025
American expats can live incredible lives, and often have incredible stories to tell. Kristen Evelyn Rossi is a jazz singer on a mission to spread the Golden Age of Broadway / Jazz throughout Asia. The following is an excerpt from ‘Falling in Love at the Metropole Hanoi’ in Global Living Magazine. Born on Long Island, […]
09/03/2020
If you have a bank account anywhere outside the US, starting in 2015, chances are you will receive a letter saying that your bank must hand over the details of any American accounts, including yours. The letters vary with the country and with individual institutions. But the overall message is that the IRS is about […]