Jan 22, 2018 | Renouncing U.S. Citizenship
The U.S. citizenship comes with all the arduous requirements and liabilities. More and more people than ever started to question whether the benefits outweigh the costs. It became more complicated and expensive procedure to renounce U.S. citizenship. The fee has...
Jan 17, 2018 | Credits and deductions
As you are probably aware, U.S. persons living overseas, who meet certain minimum income thresholds, have to file their U.S. tax returns and report worldwide income, as well as they are liable to pay taxes in their perspective country of residence. The U.S. tax laws...
Jan 8, 2018 | Personal U.S. expat taxes
Tax season is about to start and we want to update you on relevant tax changes. Mark down what is going to change on your US expat tax return. We told goodbye to 2017 tax year and welcome 2018 as the dawn of a New Year. Let’s look at the IRS updates that will be...
Dec 14, 2017 | Filing Your Taxes Late
What are the IRS Tax amnesty programs for US expats? If you haven’t caught up with your US expat taxes for a while, IRS Tax amnesty program is the legal and safe way to get back on track. Many taxpayers who fell behind their taxes are afraid to start the...
Dec 6, 2017 | Business U.S. Expat Taxes, US expat taxes by different countries
In order to combat tax evasion, the United States has put in place many rules. Today we discuss the ones directed at US citizens investing outside the U.S. These are traps for many US citizens living in Canada, simply doing the sort of things that many Canadians...
Nov 20, 2017 | Personal U.S. expat taxes
The U.S. income taxation of a foreign trust depends on whether the trust is a grantor or nongrantor trust: In the case of a foreign grantor trust, income is generally taxed to the trust’s grantor. And not to the trust itself or to the trust’s beneficiaries. In...
Sep 4, 2017 | Personal U.S. expat taxes
We are excited to share another success story of our client, who was facing a problem with PFIC. Check out Robin’s story and learn what applies to your case. Robin, a dual-citizen between the US and Canada was contemplating selling some Canadian mutual funds. Robin...
Aug 28, 2017 | Credits and deductions
Today we present you Mark’s story and the Foreign Earned Income Exclusion (FEIE). Mark, a US citizen, recently moved to Ecuador and got a professional 9-V visa/immigration status there. He was still going occasionally making trips to the United States, about 60 days...
Aug 24, 2017 | Personal U.S. expat taxes
Updated on March 5th, 2018 2017 Federal income tax brackets for taxes due April 17th, 2018 There are seven tax brackets and depending on your taxable income, as a taxpayer you fall into one of them. The United States has a progressive federal tax system. It means that...
Aug 22, 2017 | Personal U.S. expat taxes
We are starting a series called “Success story”. We share how 1040 Abroad solved US expat’s tax problems, which our clients were facing. Today we want to tell you Brian’s story. Brian, US expat, is a U.S. citizen who has been teaching English in...
