Category: Expat Tax Solutions
4 Options for Delinquent FBAR Submission for Expats
Aug 28, 2024
The Report of Foreign Bank and Financial Accounts (FBAR) is a Treasury information form separate from your annual IRS income tax return. It requires U.S. persons, including expats, to report their involvement with…
Ultimate Tax Tips For Year-End Charitable Contribution for Expats
Aug 28, 2024
Supporting charitable causes not only helps those in need but can also provide you with valuable tax benefits. Many expats aren’t aware that their charitable contributions can reduce their taxable income, making giving…
How to Determine State Income Tax Residency For U.S. Expats
Aug 22, 2024
Many overseas taxpayers have questions about their filing requirements and potential tax liability as it pertains to filing a state income tax return during periods when they are residing overseas. Most people incorrectly…
How to File U.S. Taxes as an Expat English Teacher
Aug 16, 2024
When you choose to live and teach outside the United States, you are sure to have a lot of unique experiences that aren’t available to English teachers in the U.S. However, living abroad…
Online Tax Preparation – Should I Self-Prepare My Return?
Aug 06, 2024
Online tax preparation has become increasingly popular among taxpayers who prefer the convenience and cost-effectiveness of filing their returns themselves. The appeal of using online tax software lies in its user-friendly interface, step-by-step…
IRS 1042-S Form – Reporting Amounts Paid to Foreign Persons
Jul 25, 2024
U.S. tax laws are hard enough for Americans to understand. They become even more challenging for non-residents who earn income from U.S. sources and receive an IRS 1042-S Form, Foreign Persons’ U.S.-Source Income…
The Ultimate Guide to Filing Your Non-Resident Tax Return
Jul 19, 2024
The American tax code is one of the most complex systems in the world. Each year, anyone who has earned income in the U.S. must determine their tax liability. This obligation extends to…
The Foreign Tax Credit: An Ultimate Guide for U.S. Expats
Jul 12, 2024
The United States taxes its citizens and residents on their worldwide income, regardless of where they live. This means that even if you’re living abroad, you might still owe U.S. taxes on income…
FBAR Filing — a Guide to Reporting Foreign Accounts for U.S. Expats
Jul 12, 2024
For U.S. expats, managing tax obligations can be particularly challenging, especially when it involves foreign financial accounts. The Foreign Bank and Financial Accounts Report (FBAR) filing, or FinCEN Form 114, is a crucial…
Passive Foreign Investment Company | Practical Info You Need To Know
Jun 15, 2024
Many portions of the U.S. tax code contain confusing and sometimes harsh rulings. The rules for passive foreign investment companies (PFIC) are incomparable in their complexity and almost draconian features. Countless times, Americans…