Apr 3, 2020 | Personal U.S. expat taxes
Foreign-owned US disregarded entities (which most commonly would include US LLC’s) now have an annual obligation to file Form 5472. The disregarded entity is required to file as if it were a standalone US Corporation, completing a pro-forma Form 1120 (assuming the...
Apr 2, 2020 | Personal U.S. expat taxes
Article Highlights: Recovery Rebate Penalty-Free Retirement Withdrawals Waiver of the 2020 RMD Requirement Temporary Removal of Charitable Contribution Limits Employer Student Loan Payments Employer Delayed Payroll Tax Deposits Employer Credit for Retaining Employees...
Apr 2, 2020 | Personal U.S. expat taxes
Article Highlights: Tax-Free Income from Working Abroad Foreign Earned Income & Housing Exclusions Foreign Self-Employment Income Claiming or Revoking the Exclusion U.S. citizens and resident aliens are taxed on their worldwide income, whether the person lives...
Apr 2, 2020 | Personal U.S. expat taxes
Even if you always hire a tax preparer to do your taxes for you, you probably know that the most effective way of reducing your tax liability is through deductions and tax credits. Since one of the biggest deductions available is the one taken for home office space,...
Apr 2, 2020 | Personal U.S. expat taxes
Article Highlights: COVID-19 Tax Benefits Retirement Plan Withdrawals Waiver of 10% Early Withdrawal Penalty Retirement Plan Loans Roth IRAs Other Sources of Income Way to Reduce Payments If you are struggling financially due to the COVID-19 epidemic, you will be...
Apr 2, 2020 | Personal U.S. expat taxes
In these times of uncertainty, governments all over the world are taking unprecedented action to support people who have been adversely affected by the COVID-19 pandemic. On March 12th, the U.S. Department of Labor released updated eligibility criteria for...
