Apr 2, 2021 | Personal U.S. expat taxes
As the pandemic continues to be a hard time for many, the IRS is moving the Tax Day deadline to help taxpayers in this unprecedented situation. The extension is automatic and applies to filing and payments. So, if you owe taxes this year, you have now until May 17th,...
Mar 9, 2021 | Personal U.S. expat taxes
Welcome, welcome!!! I’m Olivier Wagner and today I’ll discuss five myths surrounding renouncing U.S. citizenship. Those were urban legends that oftentimes come with some old truth that might no longer apply and I’ll discuss that in this video. I have been...
Mar 8, 2021 | Personal U.S. expat taxes
Executive Summary U.S. citizens living abroad may not be able to exclude the Net Investment Income Tax (NIIT) from their returns since there is insufficient guidance as to whether this new tax is a social security tax covered under a Totalization Agreement or an...
Mar 8, 2021 | Personal U.S. expat taxes
Hello, I am Olivier Wagner. I have been preparing US tax returns since 2012 and today I will discuss a topic that applies on both sides (the US and Canada). But I’ll be talking about a foreign corporation that has some sort of presence in Canada but doesn’t rise up to...
Feb 16, 2021 | Personal U.S. expat taxes
Congress has passed two stimulus rounds of stimulus checks – the first for $1,200, and the second for $600. Eligibility requirements for the stimulus checks vary slightly. You are eligible for both payments if: You (and your spouse, if filing jointly) are under the...
Feb 11, 2021 | Business U.S. Expat Taxes, Personal U.S. expat taxes
The PFIC rules apply to US persons. I.e. individuals, corporations, estates and trusts who are US residents or US citizens. US citizens living overseas invest in foreign investment vehicles, as that’s where they live. With it may come a bad surprise. A punitive...
Jan 28, 2021 | Personal U.S. expat taxes
Article Highlights: Time to Gather Your Information New for 2020 Choosing Your Alternatives Tips for Pulling Your Information Together Tax time is just around the corner, and if you are like most taxpayers, you are probably facing the ominous chore of compiling...
Jan 16, 2021 | Canadian Tax
1040 Abroad also offers the preparation of Canadian tax returns and this post addresses the deductibility of business expenses when preparing a Canadian tax return on form T1. Feel free to contact us with any Canadian tax questions. Question: I worked from home due...
Jan 3, 2021 | Personal U.S. expat taxes
Welcome into 2021 I’m Olivier Wagner, EA, CPA. I have been operating 1040 awards since 2012 and today I will discuss the seven stimulus check which was passed into law during the last days of 2020. These checks amount to only $600 dollars per person unlike the $1,200...
