May 15, 2022 | Credits and deductions
Even if you’ve moved abroad for a brighter future, you still might have obligations towards the IRS. What happens if you earn income from sources outside the United States? If you live abroad, you might qualify for the foreign earned income exclusion (FEIE)....
May 2, 2022 | Credits and deductions, Personal U.S. expat taxes
When talking about US taxes and taxation of US citizens who live abroad, you may have heard of Foreign Tax Credit. A U.S. citizen or resident alien who pays income taxes in another country can claim a tax credit against their U.S. federal income tax bill. You can...
May 7, 2020 | Credits and deductions, Personal U.S. expat taxes, US expat taxes by different countries
The IRS has provided Time Waivers for Exclusion for taxpayers who were working abroad and returned to the U.S. because of the COVID-19 pandemic before meeting the foreign residency requirements that would qualify them to exclude or deduct all or a portion of the...
Mar 28, 2020 | Business U.S. Expat Taxes, Credits and deductions, Personal U.S. expat taxes
On March 25th, 2020 congress passed a federal stimulus package named Coronavirus Aid, Relief, and Economic Security Act (CARES Act), worth $2.2 trillion. The bill has also been signed into law by Donald Trump. This bill will provide some relief to millions of...
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...
