Tax-free savings accounts: what are they, and how will they affect your expat taxes? Read the information below before deciding whether or not American expats in Canada should contribute to a plan like this. A Brief History of the Tax-Free Savings Account The Tax-Free Savings Account (TFSA) was introduced in Canada in 2009 as a…
The events of the Coronavirus (COVID-19) pandemic are unlike any we have ever seen before. The outcome of the crisis will play out in our memories and our history books. While the Coronavirus has impacted everyone around the globe, it is important that Americans living abroad stay updated on important travel and safety information, IRS…
Expats who live in Singapore will want to know about CPFs, otherwise known as Central Provident Funds. These funds comprise the Singaporean social security program that allows working Singapore citizens as well as permanent residents to save money for retirement. Other portions of the Central Provident Fund focus on social programs like healthcare, owning a…
Due to the Coronavirus pandemic (COVID-19), the IRS and US government have made critical updates to tax deadlines and rolled out relief programs for Americans worldwide. As a US expat, it’s important to understand how these changes affect you. But it can be challenging to tell rumor from fact amidst the rapidly changing information. That’s…
If you’re living and working abroad, chances are, you’ll want to take advantage of the Foreign Earned Income Exclusion (FEIE). In order to do so, though, you must fill out Form 2555 or 2555-EZ and attached it to your US Tax Return. Here’s what you should know about this important form. Breaking Down the Foreign…
Switzerland has long been considered a tax haven due to its low tax rates, special taxing regimes, and privacy policies. Many US citizens have relocated to Switzerland to take advantage of these provisions. The question that lingers is how effective Switzerland tax savings techniques are for US citizens living there. So, let’s examine the effects…
Expats in Singapore are at risk of double taxation since the US doesn’t have a tax treaty or totalization agreement with that country. Find out the tax considerations you should make before moving to a country that will cost you money down the road. Is There a Tax Treaty Between the US and Singapore? Currently,…
Sifting through and understanding the US tax code can be a daunting task. And when you’re a US expat, the information is even more complex and confusing. We’ve compiled a list of the top 25 things all expats should keep in mind when filing US expat taxes to help you sort through the multitude of information! 1. Expats…
According to most economists, China is the world’s second-largest economy and an essential business partner to many countries. This makes China a clear choice in which to start or expand a business overseas. However, like most countries, there are some caveats to conducting business in China. China has a few processes in place, such as establishing…
As an expat, you’re consistently reminded that you need to file a Federal Tax Return each year in order to stay compliant with the IRS. However, there is an equally important requirement for some expats that can easily be overlooked – filing state taxes. Because each state has its own governing body (and with that,…
