If you plan on working abroad as an independent contractor, you will be subject to self-employment tax on your freelance income just as you would if you were self-employed in the US. To make sure you don’t overpay, read our guide on how to avoid self-employment tax while working abroad. What Is US Self-Employment Tax? […]
If, like many expats, you’ve considered filing with the streamlined procedures on your own, you might want to read our list of reasons why you may want to reconsider. Unless, of course, you’re an accountant who specializes in expat taxes; in that case, you have our blessing. So You’re Late Filing Expat Taxes. Don’t Worry—You’re […]
More and more people are accepting opportunities to work overseas. People working in the field of education as grade school teachers or college professors are often presented with a fantastic opportunity to teach abroad. Depending on the employer and location of the services, this transition could result in some unexpected tax consequences. The impact could […]
Does the IRS Care If You Are a Dual Citizen? The Short Answer Is: No! The US is one of the only countries in the world that utilizes a citizenship-based tax system rather than a territorial one. The only other one is Eritrea. What this means is that the IRS taxes citizens—including dual citizens—wherever they […]
How a country’s taxation system works makes all the difference in the world—something that many expats, and certainly accidental Americans, are well acquainted with. It determines who is taxed, on what, and sometimes, how much. Learn about the tax implications for residency-based taxation and citizenship-based taxation for expats. What Is Residency-Based Taxation? With residency-based taxation, […]
All you need to teach online is a laptop and an internet connection. It’s not something that you need to be at home to do; it can be done from anywhere in the world! An online teacher may have the luxury of being able to travel around the world to exotic locations while having the […]
US estate tax is assessed on the value of a deceased individual’s assets at the time he or she passes. The US government will generally only charge this tax on estates whose values exceed $11.4 million in 2019 and $11.58 million in 2020. If the value of an estate exceeds these amounts for the applicable […]
Sifting through and understanding the US tax code can be a daunting task. And when you’re a US expat, the information is even more complex and confusing. We’ve compiled a list of the top 25 things all expats should keep in mind when filing US expat taxes to help you sort through the multitude of information! 1. Expats […]
‘Tis the season for friends, family, and holiday cheer! It’s the time of year when no matter where you live, life becomes busier than usual and we will say goodbye tax year 2018 and welcome tax year 2019! And we’re not the only ones who have been busy. Let’s take a look at the latest […]
US taxes are complex. The US tax code contains over 74,000 pages, and most of them are hard to comprehend – even for professionals! Our experts have compiled a guide to help you understand the most common expat tax forms you may come across as an American living abroad. Form 1040 This is the big one. […]
