01/10/2017
The Bright!Tax Awards Committee is pleased to announce that Erin Moran has been awarded a Bright!Tax Global Scholar award. Erin is a postgraduate student working towards her PhD at University College London’s Institute of Education. Erin fended-off over 400 other applicants to claim the latest award. Erin’s journey is as ambitious as it is unique. […]
01/05/2017
FBAR is an acronym for Foreign Bank Account Report. It’s a filing requirement for Americans with bank or financial accounts overseas that meet certain criteria. Americans have been required to report certain offshore accounts since 1970, when the Bank Secrecy Act was passed to prevent money being kept offshore for the purpose of avoiding US […]
01/02/2017
Bright!Tax Continues to Raise the Bar Globally – Introduces Latest Innovation – a Secure Online Client Interface that Makes the Process of Filing US Taxes from Abroad a Whole Lot Easier! Most often when American expats engage a US expat tax firm to prepare their US taxes, they are first greeted warmly, but then are […]
12/29/2016
Choosing an expat tax professional or accountant is an important decision. Getting it wrong could literally cost you thousands of dollars, as they may not have the specialist knowledge to apply the best strategies or claim the right exemptions for your situation. One of the first questions you should consider when filing US expat […]
12/26/2016
Perhaps you’re already living in Mexico, or perhaps you’re thinking about moving there. Mexico certainly has plenty to recommend it, including beautiful landscapes and beaches, a fascinating culture, delicious food, and relaxed, friendly people. With the US dollar currently strong, it’s a good time to move to Mexico, so read on to find out what […]
12/22/2016
Since 1970, all Americans have been obliged to report their Foreign Financial Accounts, including any they have signatory authority over, if their accounts contain an aggregate total of over $10,000 at any time during a tax year. This filing obligation is commonly known as the Foreign Bank Account Report, or just FBAR. For many years […]
12/19/2016
Retirement abroad rightly has a wide appeal, often because the quality of life can be higher, with many places offering a lower cost of living, a warmer climate, and high-quality, affordable healthcare . Mexico, the Caribbean, South America, and parts of Europe and Asia all remain popular retirement destinations for the above reasons, however as […]
12/15/2016
The IRS re-introduced the Streamlined Procedure amnesty program in 2014 to help the millions of Americans living abroad who weren’t currently up to date with their US tax filing catch up without facing penalties. All US expats are required to file a federal tax return each year declaring their worldwide income, regardless of where in […]
12/12/2016
An Accidental American is typically either someone who was born in the US to foreign parents who were there there just temporarily, or someone who is the child of an American living abroad. The first scenario is straightforward. If you are born in America, you are a US citizen. No ifs, no buts. The second […]
12/05/2016
All Americans who earn over $10,000 (or just $400 of self-employment income) have to file a US tax return every year, wherever in the world they live or earn. Many Americans living abroad aren’t aware of this though, so they aren’t up to date with their tax filing. Thankfully, for American expats who haven’t filed […]