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...
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...
Jun 1, 2018 | Credits and deductions
Are you an American living and working abroad? Or maybe you are a Green Card holder who hasn’t officially abandoned GC? If you are a U.S. person for tax purposes, you may need to file a U.S. tax return. Basically, you have to file an IRS Form 1040 for the...
Mar 26, 2018 | Credits and deductions
As you know, the United States requires all citizens and permanent residents (Green Card holders) to report worldwide income. You need to file annual income tax return regardless of where in the world you earned the money. As the name suggests, the Foreign Tax Credit...
Mar 19, 2018 | Credits and deductions
Living and working abroad comes with many exciting benefits. In addition to exploring new lands and learning about new cultures, expats often earn additional income beyond regular salary. Foreign earned income can come in many forms. In addition to the earned wages,...
Mar 5, 2018 | Credits and deductions
Even if you have left the United States for a brighter future elsewhere, you (something not as strong) take a moment and think about any obligations you have towards the IRS. The U.S. retains its right to tax globally its citizens and Green Card Holders living...
