Mar 28, 2020 | Business U.S. Expat Taxes, Credits and deductions, Personal U.S. expat taxes
In this time of uncertainty, it is hard to see the light at the end of the tunnel; however, there is some good news for you. On March 25th, 2020 congress passed a stimulus package named Coronavirus Aid, Relief, and Economic Security Act (CARES Act), worth $2.2...
Mar 19, 2020 | Business U.S. Expat Taxes, Filing Your Taxes Late, Personal U.S. expat taxes
For most US taxpayers, that means that the Tax payment deadline, the deadline to pay, is now July 15, 2020 (previously April 15, 2020). The deadline to file remains unchanged. The deadline to file remains June 15, 2020 for Americans overseas. In response to the...
Feb 28, 2020 | Business U.S. Expat Taxes, Personal U.S. expat taxes
US citizens living overseas naturally invest in foreign investment vehicles as that’s where they live. With it may come some bad surprise, a punitive taxation regime that can sidetrack you if not planned. Anyone who has made investment outside the USA or is...
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...
Apr 11, 2018 | Business U.S. Expat Taxes
Do you know that owning a Controlled Foreign Corporation got affected by New Tax Bill? In a nutshell, Trump’s tax reform now means that all income is Subpart F income. In addition, all currently untaxed retained earnings will be subject to a one-time tax. Read...
