One of the most common questions we get asked is: “How is the foreign housing exclusion calculated?” Without knowing the equation on your own or having a foreign housing exclusion calculator lying around, you risk missing qualified expenditures for the deduction and not saving all the money that you could. So, to help expats on […]
How the Foreign Housing Allowance Can Reduce Your US Expat Taxes As a US expatriate living abroad and filing your US expat taxes, you must make sure that you take full advantage of Form 2555, the Foreign Earned Income Exclusion Form, which not only helps you calculate the income that you may exclude from your taxes […]
Deduct Foreign Housing Expenses on Your US Expatriate Tax Return As you may know, as an American living overseas you may be able to deduct some of your housing expenses from your gross income on your overseas tax return. This is known as the Foreign Housing Allowance. Basically, this is the IRS’s way of saying, […]
The Foreign Housing Exclusion, sometimes referred to as the Foreign Housing Allowance or Foreign Housing Deduction, is a lesser-known money saver that can help limit expats’ tax liability. With appropriate preparation and a little foresight, this exclusion can increase the affordability of living overseas. And better yet, if you’re planning on using the Foreign Earned […]
There are several ways to save on your US expatriate taxes by lowering your gross income, one of the most common being with the Foreign Earned Income Exclusion (FEIE). Another method that you may not be aware of is the Foreign Housing Exclusion, which can help lower your income even more for a lesser US […]
Many expats know about the Foreign Earned Income Exclusion, which helps to lower your gross income and therefore lower your US tax liability, but did you know that there is a way to lower your income even further by using the Foreign Housing Exclusion? Check out everything you need to know about the lesser-known exclusion now. […]
The Foreign Housing Exclusion is a money-saving provision that can help Americans living abroad reduce their tax liability. Plus, it is closely tied to the Foreign Earned Income Exclusion. Find out the basics in the guide for expats below. What is the Foreign Housing Exclusion? The Foreign Housing Exclusion is available to US expats (which […]
Expats often find that their living expenses are dramatically increased as a result of living abroad. This is especially true for those living in notoriously expensive cities, like Hong Kong. This infographic explains the Foreign Housing Exclusion, which allows you to exclude certain living expenses from your foreign earned income to reduce your overall US […]
There are several important deductions and exclusions that help US expats reduce their overall US tax liability. One of the lesser-known exclusions is the Foreign Housing Exclusion (FHE). Let’s take a closer look at how this exclusion is calculated and how it can help save you thousands of dollars! What is the foreign housing exclusion? […]
As an American expat, you may find that your housing expenses are quite a bit larger than when you were living in the US! Thankfully the IRS allows you to deduct a certain portion of your housing expenses from your US expatriate taxes. David McKeegan, President and Co-Founder of Greenback Expat Tax Services explains the […]
