Greenback Expat Tax Services
Moving abroad is a stressful process, even moreso when you throw in property purchases abroad and the impact on your US expat taxes. So many issues surround the ownership of foreign property, including market conditions, foreign mortgages, exchange rates, new cultures, and even different legal structures. As you may already know, a US citizen’s worldwide […]
Many foreign countries require residents to remit taxes to the host government, regardless of the citizen’s nationality. For this reason, US expats have an opportunity to claim the Foreign Tax Credit on their US taxes. To utilize this credit, you complete Form 1116 and attach it to your US tax return, Form 1040. The credit […]
If you are a US citizen living and working abroad, you will likely take advantage of the Foreign Earned Income Exclusion (FEIE) on your US expat taxes by completing Form 2555 or 2555-EZ. The FEIE allows qualifying taxpayers to exclude up to $105,900 of foreign earned income from their 2019 US expat taxes and $103,900 […]
Amidst all the news of looming IRS crackdowns, a bit of relief is on the way. Recently, a brand new IRS amnesty program was launched for those who have renounced their American citizenship (or even those who intend to!), called “Relief Procedures for Certain Former Citizens.” These procedures are intended to incentivize noncompliant taxpayers to […]
Recently, the IRS announced that it would be initiating six new compliance campaigns for specific tax noncompliance issues. One of these issues is the built in gains (BIG) tax that can occur when C Corporations transition into S Corporations and have net unrealized built in gains. Find out what American expat entrepreneurs need to know […]
Buying, selling, investing in, receiving, or transferring money using bitcoin, etherium, and other types of cryptocurrency have tax implications. Here’s what Americans living abroad need to know about expat taxes on cryptocurrency. What Is Cryptocurrency? Cryptocurrency refers to any virtual digital currency that is not the official currency of any country. Examples of cryptocurrency include […]
With all of the other red tape that Americans abroad have to deal with, it’s no surprise that sailing permits are an often-overlooked requirement that can easily be a source of tax confusion. Though a sailing permit may sound like a seafaring necessity before boarding a ship, the reality is much less exciting. The IRS […]
As an expat, there are things you need to be aware of and look out for when filing late taxes. You need to know how you can minimize penalties and interest, and you need to know when it’s time to hire a professional. Late Filing Fees and Penalties One of the biggest setbacks of filing taxes late are the fees […]
Once again, Greenback’s innovations to simplify the process of preparing US expat taxes has been recognized by the Forum for Expatriate Management, as we have been shortlisted in multiple categories for the 2019 APAC EMMA awards. We are honored to be considered for these prestigious awards and proud to be in the company of businesses […]
As an American living in France, you may not know that merely residing in a French residence could subject you to a tax known as the “taxe d’habitation” or French Council Tax, whether you rent the property or own it. This is an often-overlooked tax consideration for an individual planning to move to France and […]
