Category: Expatriate Tax Preparation
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…
Ignorance: A Flimsy Excuse for Not Filing FBARS
Feb 07, 2024
Here’s one of the most frequent questions people ask me about Foreign Bank Account Reports (FBARs). ‘‘I recently learned about the need to file an FBAR for overseas accounts with over $10,000. I…
Does Your Credit Score Affect Your Taxes? 5 Important Things You Need to Know
Jun 13, 2022
This article will explain the relationship between your taxes and credit score, including how the former may impact the latter – or vice-versa.
Form 8938 and Form 8621: Revealing 4 Key Differences You Need to Know to Avoid Mistakes in Filing
Apr 19, 2022
Filing taxes as an American living abroad can be confusing and challenging. Knowing the correct forms to use and how to fill them out correctly is as crucial as learning how to file…
The Difference Between Taxable Income vs. Nontaxable Income: Valuable Information You Need To Know Now
Mar 24, 2022
Not all kinds of income are taxable; the IRS considers some as tax-free. Find out their differences and the types of income they cover in this article.
7 Answers to FAQs About IRS Form 8938 — Valuable Info You Need To know
Jan 03, 2022
The IRS Form 8938 is one of the most important forms you must complete as an expat. If you're unsure what IRS Form 8938 is or how to file it, don't worry; this…
8 Important Tax Preparation Tips You Need to Know as a Foreign Entrepreneur
Jan 03, 2022
Preparing business tax returns is different for a foreign entrepreneur. To effectively run your business abroad, here are some tips to help you out.