Oct 21, 2015 | FBAR and FATCA
In a sign of the United States again thinking it can apply its laws in foreign countries, the IRS passed the FATCA law. This law is effective since March 18, 2010. The threat to US persons living in Canada grew as the Canadian government signed an Inter-Governmental...
Oct 17, 2015 | Renouncing U.S. Citizenship
Last updated on 3 January, 2020 Access the full article here http://www.movehub.com/blog/dual-citizenship-around-the-world-map Dual citizenship policies around the world We originally researched which countries have strict yes/no policies regarding dual citizenship...
Oct 9, 2015 | Personal U.S. expat taxes
A common mistake of people who are lawful permanent residents of the United States (commonly known as Green Card holders) is to think that the tax law and immigration benefits go hand-in-hand when it comes to US taxpayer status. Unfortunately, this is not necessarily...
Oct 2, 2015 | Renouncing U.S. Citizenship
Hello! This is Olivier Wagner from 1040 Abroad. This week’s question is: If you live outside the U.S. and relinquished US citizenship by performing an expatriating act after June 3, 2004, but failed to inform the Department of State are you still a U.S. taxpayer?...
Oct 1, 2015 | Business U.S. Expat Taxes
Hello from the Amtrak Cascades, This is Olivier Wagner from 1040 Abroad. I am on my way Pioneer Nation in Portland, OR. If you are going to Pioneer Nation, let me know, I’ll buy you a drink, also I’ll be in DCBKK (Dynamite Circle conference in Bangkok),...
Oct 1, 2015 | Personal U.S. expat taxes, US expat taxes by different countries
Hello from the Amtrak bus! Now, being a tax geek, the question that comes to mind is related to tax treaty: if a Canadian tax accountant (Canadian resident, US citizen) prepares tax returns in the US, will he have tax owing for that US-sourced income? Foreign Earned...
Sep 15, 2015 | Business U.S. Expat Taxes, Personal U.S. expat taxes
Form 5471 is used by shareholders of foreign corporations. Several categories are required to report their ownership, starting with an acquisition of a minimum of 10% of the stock of a foreign corporation. But the most relevant is the reporting for Controlled Foreign...
Sep 5, 2015 | Personal U.S. expat taxes
As a quick follow-up to yesterday’s post, the greatest unfairness again occurs to the accidental American who realizes after the fact his/her status of a US citizen self-employed in a country without a Social Security totalization agreement with the US. In order to...
Sep 4, 2015 | Personal U.S. expat taxes
It is important to note that skipping social security taxes is not a way to build wealth, the way to build wealth is to generate more revenue. However, digital nomads have a choice to pay social security taxes or not. But, what if instead of skipping it, our...
Sep 3, 2015 | Personal U.S. expat taxes
This is particularly of interest for “digital nomads” and other self-employed people who have freedom in the way they arrange their employment or self-employment. For those living in countries with a Social Security Totalization Agreement US citizens living in these...
