02/08/2016
All US citizens and green card holders have to file a US federal income tax return every year if their income is above the minimum threshold of around $10,000, irrespective of whether they live in the States or abroad. The threshold applies to worldwide income, and it doesn’t matter if you live in another country […]
02/08/2016
Moving abroad is a leap at least into the semi-unknown, however it’s much easier than it used to be. The vast amount of expat related info available online, along with the ability to find and connect with fellow expats, means that moving abroad is easier than ever before. But what are the best online resources […]
02/08/2016
One – Know your responsibilities and filing dates If you’re a US citizen or green card holder earning over $10,000 a year (or $400 from self-employment), even if you’re living abroad, you have to declare your worldwide income, savings, and assets and you might need to pay taxes to Uncle Sam. Any tax due must […]
02/08/2016
Lauren and her husband both worked as criminal defense lawyers in Colorado before they decided to move abroad. In 1999, they loaded up their truck and drove south to their new home, Iguana Lodge in Costa Rica, which they have turned into an eco friendly, beach-side, tropical paradise, complete with two restaurants, yoga classes, a […]
02/08/2016
US citizens and green card holders who earn over $10,000 (or $400 from self-employment) are obliged to file a federal income tax return wherever they live. If they are resident in another country, they have to file a return there too. In both cases, penalties can be harsh for not filing, so it’s important to […]
02/08/2016
Everyone sometimes dreams of a better life in a more exotic place, but relatively few of us actually pack up our things, sell our cars, lock up or let our homes perhaps, and take the plunge. Often moving abroad requires a particular catalyst or trigger. Below are our top 5 reasons why Americans move abroad. […]
02/08/2016
Until around a year ago, many honest, law-abiding US expats felt a real disincentive to file their historic tax returns as a result of pending and serious IRS penalties. Another large group of expats believed that as they didn’t owe taxes in the US, having paid higher tax rates abroad, they didn’t have to file […]
02/08/2016
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 […]
02/08/2016
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 […]
02/08/2016
Mexico is the number one destination for US expats. The US State department estimates that there are over 1 million American citizens living in Mexico, and it’s easy to understand why. A heady combination of high levels of personal freedom, low taxes, a relaxed culture and a friendly people gives Mexico a wide appeal. Factor […]