If you are a citizen or permanent resident of the US, you are obligated to file taxes with the IRS each year, regardless of the country in which you reside. Not only are you required to submit the standard income taxes for expats, but you may also need to file an informational return on your…
How Working in Italy Impacts US Taxes Abroad If you choose Italy as your home abroad, how will it affect the way you approach your US expat taxes? With a fantastic food culture, picturesque landscapes, and a festive social atmosphere, Italy is a popular destination for tourists and expats alike. As an American, how will…
When you’re a digital nomad, the last thing you want to worry about is your taxes. You’ve got your career and (perhaps) a family to take care of, and your extra time would be best spent sightseeing or taking in a new culture. When you are on the move constantly, this is especially true. But…
While you may be fully aware of your expat tax filing obligations by now, there’s another requirement you should pay attention to: FBAR reporting. FBAR, or Foreign Bank Account Reporting, is required if your foreign financial account balances exceed a certain threshold, and failing to do so can lead to harsh penalties. Here’s what you…
Working overseas either as a contractor or an employee comes with both pros and cons. A US expat residing abroad can enjoy quite a lot of monetary as well as non-monetary benefits, especially compared with their stateside counterparts. But your taxes will be very different depending on whether you’re a contractor or an employee. Read…
Ah, France: great cheese, excellent wine, and, unfortunately, a very complicated tax system. If you are one of the lucky souls who own property in France, whether as your primary residence or a pied-a-terre and are a US citizen, this article has the info you need about French property taxes for non-residents and expats. What…
If you must file a US expat tax return, you’ll need to have either a Social Security number (SSN) or an Individual Taxpayer Identification Number (ITIN). The ITIN is only for taxpayers who aren’t eligible for a Social Security number and its only purpose is for filing US taxes. It’s very important to apply for…
Under what circumstances should a military contractor stop withholding taxes? Let’s explore Form 673: not just the process for filling it, but also where to send it. What’s New About the Process US military contractors and employees received some good news with the enactment of the Bipartisan Budget Act of 2018. For tax years leading…
Using the Foreign Tax Credit to Reduce Your US Expatriate Taxes US taxpayers required to pay foreign income taxes may elect to claim a credit for those taxes on their expatriate tax return. The Foreign Tax Credit is claimed on your expatriate tax return via Form 1116. You can attach this form to Form 1040….
Ask any investment broker, and they will say that the traditional advice is that diversifying your investment portfolio is good because it limits your exposure to instability. Expats who live in Sweden may wonder about diversifying with Swedish bond accounts, especially since Swedish bonds are some of the safest available. Find out what they are,…
