Tax returns, exclusions, credits and deductions for U.S. expats

Jun 1, 2018

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 previous year. But you need to do it if your income was above a certain threshold. For the tax year 2017 (filing in 2018) the thresholds (total yearly income) are:

Filing statusUnder 6565 or older
You are single (unmarried) $10,400$11,950
You are married filing jointly$20,800$23,300
You are married filing separately $4,050$4,050
You are filing as "Head of household"$13,400$14,950
You are a widow or widower $16,700$18,000
Self-employed $400

What is a worldwide income?

For U.S. persons (that is, a U.S. citizen, a so-called “Green Card” holder or a “U.S. resident” due to the substantial physical presence in the US) “income” means worldwide income. It can be derived from whatever source and from wherever it is in the world. The income that is taxed is not limited to any particular type of income such as salaries or business income. It includes, for example, interest, dividends, rents, royalties, commissions, capital gains, prize winnings, inventory sales proceeds and so on. It also includes the fair market value (FMV) of goods, services or the like that are provided by an employer as part of the compensation package (for example, accommodation; education for children; airline tickets home; domestic helpers).

Infographic on Tax Exclusions, Credits, and Deductions for Americans abroad

June 15th deadline to file U.S. tax return is just around the corner! We prepared this easy infographic for you. Learn how you can save money on this year’s tax return:



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U.S. Taxes For American Expats E-book

FREE U.S. Tax Guide for Americans Abroad

The only e-book about U.S. Expat Taxes you need to read! Covers

1. Foreign Tax Credit vs. Foreign Earned Income Exclusion

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3.  What happens if I don't file?

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