If you’re an American living abroad who came from California, you may not know whether your former state still considers you a resident. If that’s the case, you may need to file a state tax return along with your expatriate tax return. Pay close attention to how your former state home regards you in order…
The EB-5 Immigrant Investor Visa Program was created to encourage investment in the US. However, recent changes to the required investment thresholds may impede smaller investors from obtaining this visa. Find out what you need to know about the ways these changes could affect EB-5 visa tax requirements! What Is the EB-5 Visa Immigrant Investor…
While living and working abroad, you may decide to invest in a home or other type of property. Foreign tax laws regarding the reporting of rental income vary depending on where the rental income is earned. For instance, some countries have minimum income threshold requirements that should be met before rental income needs to be…
Beautiful Germany is a popular destination for Americans moving abroad due to numerous international headquarters located in the country and a large military presence in cities like Munich, Berlin, Essen, and many others. If you’re one of the many American expats in Germany, you will want to know how your situation will affect your taxes….
While filing US tax returns is a well-known responsibility of Americans living abroad, requirements such as the Foreign Bank Account Report (FBAR) are often forgotten. What’s the big deal, you ask? Well, failing to file the FBAR can draw the attention of the IRS, and lead to some harsh penalties. To make sure you stay…
While working in Afghanistan, some of your income may be tax exempt thanks to exclusions that lower your US tax bill. The IRS-defined differences between a military contractor and a government worker determine what exemptions the two categories of workers can get. So, let’s talk about the expats working in Afghanistan, and what type of…
When certain foreign trust, foreign gift, or foreign bequest transactions occur, the IRS requires Form 3520 to be filed to report such transactions. But don’t be intimidated: we’ve broken the information down into a simple guide for Americans living abroad – complete with examples! Do I Need to File Form 3520? The following situations will…
For many expats, nothing is more rewarding than being a business owner. While being an expat entrepreneur has many rewards, it doesn’t come without unique challenges. For many small business owners living abroad, their primary focus is selling their product or services and taking care of the client. Many business owners neglect the backend part,…
If you’re considering starting your own business, you’ll want to know everything that’s tax-deductible for business owners living outside the US. With this knowledge, you’ll be better able to plan for costs, plan for your taxes, and save money all at the same time. What Are Tax-Deductible Expenses for Business Owners Living outside the US?…
Good tax news is hard to find, but recently, the Bipartisan Budget Act changed the tax home stipulation for contractors as well as employees of contractors, so long as they worked in the US armed forces. To be eligible, they also must work in IRS-determined combat zones. Now, military contractors can claim the Foreign Earned Income…
