May 9, 2017 | Personal U.S. expat taxes
Taxes can be intimidating not only for newbies but also for pros. It is crucial to understand why you need to file your tax returns and stay compliant. If you don’t know where to start, then take a look at this infographic. We explain why it is essential to fill...
May 1, 2017 | Credits and deductions
Child Tax Credit is one of deductions and reliefs the IRS offers. It can save you as much as $2,000 per child if you meet all the requirements. We have gathered all the necessary information, which you need to know about Child Tax Credit in this infographic. Paying...
Mar 23, 2017 | Personal U.S. expat taxes
Americans who work for themselves must pay their own version of Social Security. It is called ” the Self-Employment Tax”. This tax applies no matter where in the world the work was performed! Thus, we have put together a few facts in infographic below to...
Mar 13, 2017 | Personal U.S. expat taxes
As we know, the rules for filing income, estate, and gift tax returns and paying estimated tax for US citizens or resident aliens are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of...
Jan 28, 2016 | Business U.S. Expat Taxes
This week’s question is a follow-up from last week’s blog post but comes from Loretta from Quebec, Canada. The question is: So, are TFSAs considered trusts for US tax purposes? If so, what are the implications of that? Is it a trust? Again, here is the regulation...
Jan 28, 2016 | Business U.S. Expat Taxes
This week’s question comes from Amy from Canada. “I have heard that Canadian RESPs (Registered Education Savings Plans) may be considered trusts for US tax purposes. Is that true? If so, what are the implications of that?” Is RESP a Trust? Here is the...
Jan 28, 2016 | Personal U.S. expat taxes
This week’s question is a follow-up question from James from the Netherlands (long time, no see) – for his friend (of course). The question is: So, you said in your previous blog post that “If you intend to gift a large amount of money to a US person, it is advisable...
Jan 28, 2016 | Renouncing U.S. Citizenship
This week’s question is a follow-up question from James from the Netherlands – for his friend (of course). The question is: What if I just surrender U.S. citizenship without doing anything regarding my taxes? Learn more about Form 8854 and covered expatriate status....
Jan 28, 2016 | Business U.S. Expat Taxes, Personal U.S. expat taxes
This week’s question comes from Kathleen from Canada. She heard that Canadian retirement plans (RRSPs) and account are treated as trusts for US tax purposes. Now she wants to know how to meet the reporting requirements for US tax. As well as the way it is taxed. Did...
Jan 28, 2016 | Business U.S. Expat Taxes, Personal U.S. expat taxes
And this week’s question comes from a digital nomad Chiang Mai, and the question is: Do self-employed US citizens abroad have to contribute to Social Security? The Social Security Totalization Agreement US citizens living in countries which adhere to the Social...
