Learn what you need to know about with clear, in-depth articles on U.S. taxation with a focus on U.S. taxpayers overseas. See what tax expert Randall Brody has to say and get the real scoop.
Randall Brody is an enrolled agent, licensed by the US Department of the Treasury to represent taxpayers before the IRS for audits, collections and appeals. To attain the enrolled agent designation, candidates must demonstrate expertise in taxation, fulfill continuing education credits and adhere to a stringent code of ethics.
Since 1997, Tax Samaritan founder Randall Brody has been helping people save money on their tax return. We specialize in the preparation of taxes and the resolution of tax problems for Americans living abroad, as well as the unique tax issues that apply to taxpayers that are gamblers, teachers, nurses and military. Each of our returns is prepared from the practical, real-world need that we see every day from our clients – a simple process to complete your return while paying the least amount in taxes.
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Tax Professionals Types There are various types of tax professionals that you can select from to prepare your tax return, including enrolled agents, certified public accountants, attorneys, and many others who don’t have a professional credential. It is reasonable to expect your tax professional to be skilled in tax preparation, tax laws and to ultimately … Continue reading Need A Tax Professional To Prepare Your Tax Return?→
Employee Business Expenses As an employee, you may be able to deduct certain work-related expenses if you itemize deductions on Schedule A (which is worthwhile if your total itemized deductions are greater than your standard deduction based on your filing status). If you paid for out-of-pocket expenses related to your job during the tax year, … Continue reading Unreimbursed Employee Expenses→
Rental Income Tax If you own rental real estate, you should be aware of your federal tax responsibilities. All rental income must be reported on your tax return, and in general the associated expenses can be deducted from your rental income. However, you should also understand that there are certain rental expenses you may deduct … Continue reading Rental Income And Rental Expenses→
Do you owe back taxes to the IRS? Are you having trouble coming up with the money to pay your Federal taxes? You aren’t alone. Every year, many people find out that they owe more in taxes than they initially expected. And while that can be distressing, an IRS Installment Agreement may be a possible … Continue reading IRS Installment Agreement– Payment Plan For Tax Debt→
Get Large Firm Expatriate Tax Preparation Expertise With Small Firm Personal Attention If you are a US taxpayer living abroad, you will want to hire a firm that specializes in expatriate tax preparation. Many Americans abroad attempt to do their own tax returns or continue to use their existing preparer that lacks extensive experience and … Continue reading Expatriate Tax Preparation – The Basics→
Under the streamlined foreign offshore procedure, taxpayers must certify that their conduct relating to the failure to file FBARs (FinCen Form 114) and disclosing foreign accounts was not willful on Form 14653 – Certification by U.S. Person Residing Outside of the United States for Streamlined Foreign Offshore Procedures. Form 14653 – Certification by U.S. Person … Continue reading Form 14653-Certification For Streamlined Foreign Offshore Procedures→
What Is A Passive Foreign Investment Company (PFIC)? Any foreign company that meets either the asset test or income test is a passive foreign investment company. The asset test is met if 50% or more of the foreign corporation’s assets produce or could produce passive income. The income test is met if 75% or more … Continue reading Passive Foreign Investment Company→
Foreign Housing Exclusion And The Foreign Earned Income Exclusion The foreign housing exclusion complements the foreign earned income exclusion that is reported on the Form 2555 and can increase your available exclusion amount. This is an additional exclusion for your housing costs if your tax home is in a foreign country and you qualify for … Continue reading Foreign Housing Exclusion→
Expat Tax Advice Is Complicated As an American abroad, expat tax advice can be complicated and finding a U.S. expat tax advice professional can be equally difficult. While at the same time it opens up a myriad of opportunities for tax savings that often go unexploited, it also opens up a minefield to the unexperienced … Continue reading Expat Tax Advice – Advice For Americans Abroad→
US Taxpayers Living Abroad If you are a U.S. citizen or resident alien living abroad, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or in a foreign country. Your worldwide income is subject to U.S. income tax, regardless … Continue reading Filing Requirements For U.S. Taxpayers Living Abroad→