US citizens and Green Card holders are required to report and pay taxes on their worldwide income each year. This is the case even if you have established an entity in a foreign country. Different entities, whether foreign or domestic, have their own US tax reporting requirements. This article, although not all-inclusive, will discuss the […]
FIRE for US expats: what does it mean? Well, for those who weren’t in the know already, FIRE stands for financial independence, retire early. Our advice below is aimed toward helping you avoid the mistakes that can make FIRE for US expats impossible. While there are numerous ways to maximize your financial savings as an […]
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 […]
We’re so glad you made it to this week’s expat tax news roundup, where we’ve compiled all the expat tax news you need. This week we’re featuring Passive Foreign Investment Companies and Form 8621, our webinar on expat tax facts and fiction, why expat entrepreneurs shouldn’t incorporate their businesses overseas, and our fantastic refer-a-friend offer! […]
Expats who are shareholders in foreign companies: take note! You may have extra filing requirements that garner heavy penalties if ignored. Find out if you must file Form 8621 along with your other American expatriate tax documents and other tips on how to avoid penalties below. Passive Foreign Investment Companies (PFICs) in a Nutshell PFICs […]
No matter where you’re living and working, you’ve probably thought about planning for retirement by choosing to make investments in some form. However, when living abroad, understanding the ins and outs of investments outside the US might be a bit more complicated as banking and tax laws can differ from those in the US – […]
As an American living and working abroad, chances are you’ve experienced the complexity of understanding your foreign finances and US expat tax return. There are certain things you’ve likely come to expect in those regards, such as needing to file extra forms, keeping accurate travel records and more. Something you may be less familiar with, […]
Most Americans living abroad are aware that filing US expatriate taxes can be tricky, especially when it comes to determining which forms they’re required to include with their US Tax Return. There are some forms that are used for very specific situations, such as if you’re a shareholder in a Passive Foreign Investment Company (PFIC) […]
In a shocking outcome, the people of the United Kingdom (UK) have officially made their voices heard in a referendum to separate their nation from the European Union (EU), with a vote of 51.9% to leave and 48.1% to stay. As a member of the EU since 1973, this severing of ties is already making […]
As any US expat knows, there are a large number of tax forms that may need to be filed as a consequence of living abroad. You may be familiar with Form 2555 (Foreign Earned Income Exclusion) or Form 1116 (Foreign Tax Credit) from filing US taxes abroad. These forms are common and fairly simple to […]
