Aug 10, 2019 | Credits and deductions, Personal U.S. expat taxes
To use the Foreign Earned Income Exclusion, you need to pass either the Physical Presence or Bona Fide Residence Tests. As an American abroad, for 2018 tax year you could exclude up to $104,100 by using this exclusion. As well as you can take advantage of foreign...
Aug 8, 2019 | Credits and deductions, Personal U.S. expat taxes
U.S. citizens and Green Card holders living abroad must pass either the Bona Fide Residence Test or the Physical Presence Test in order to qualify for Foreign Earned Income Exclusion. Using this exclusion is one of the most popular and legal ways to reduce your tax...
Aug 5, 2019 | Personal U.S. expat taxes
We know that U.S. international taxation is a complicated topic. Often Americans abroad are not aware of their U.S. tax obligations. We prepared this easy-to-understand tax infographics to answer most common questions regarding U.S. expat taxes. Are you a U.S. person...
Jul 18, 2019 | Personal U.S. expat taxes
It’s crucial for nonresident aliens to understand U.S. tax obligations, which come along with “U.S.-sourced income”: investments or employment in the U.S. As many nonresidents aren’t familiar with U.S. tax system, they fail to file a tax return. It may...
Jul 9, 2019 | US expat taxes by different countries
The Canadian tax system is based on residency and not on citizenship, unlike its neighbour to the South. That means the main element of the tax system in Canada is your residency. It leads to the laws that those who are residents of Canada should declare their...
Jun 4, 2019 | Credits and deductions, Personal U.S. expat taxes
As a U.S. expat parent, you can claim The Child Tax Credit available for individuals with a qualifying child. A tax credit is better and more valuable than a deduction. Are you wondering why? Because it creates a dollar-for-dollar reduction of your tax bill as a...
May 2, 2019 | Business U.S. Expat Taxes, Personal U.S. expat taxes
How does self-employment tax work for those Americans, who live abroad, travel the world and work for themselves? Well, you still have to pay US taxes on foreign income if you are a freelancer, independent contractor, digital nomad or entrepreneur abroad. Yes, US tax...
Apr 11, 2019 | Business U.S. Expat Taxes, Personal U.S. expat taxes
U.S. citizens and residents have to file Form 5471 if they are shareholders in a foreign corporation. In addition, many categories of income would be categorized as a subpart F income and taxed currently. The Tax Cuts and Jobs Act has expanded that with the GILTI...
Mar 25, 2019 | Personal U.S. expat taxes
2018-2019 tax season is in full force since January 29th, 2019. Are you ready to learn how to file your 2018 US taxes for expats? We will cover an array of important deadlines, forms, and schedules. We will also share with you penalty-free ways to file late taxes if...
Feb 15, 2019 | Credits and deductions, Personal U.S. expat taxes
What is Form 1116 and who needs to file it? When talking about US taxes and taxation of US citizens who live abroad, you may have heard of Foreign Tax Credit and the possibility to offset the US tax owing by using the taxes paid to another country. That way you can...
