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...
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...
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...
Oct 1, 2018 | Credits and deductions, Personal U.S. expat taxes
While all Americans are taxed in their worldwide income regardless where they reside, they also have Foreign Earned Income Exclusion to reduce the tax burden. And this is what our today’s tax infographic is about. In 2018 you can eliminate up to $104,100 of...
Aug 9, 2018 | Credits and deductions
Is it better to use Foreign Earned Income Exclusion (FEIE) or Foreign Tax Credit (FTC) when filing US expat taxes? When the Foreign Tax Credit allows one to reduce their tax owing to zero, we usually choose it. It’s a better option compared to the Foreign Earned...
