Expat Specific Language
Do you need to make up years of back taxes? Maybe a couple of FBARs or two? No worries because the Streamlined Procedure can help you get back on track,…
Totalization agreements are agreements between the US and other nations that benefit expats. Their purpose is to avoid double taxation. They have to be considered when determining whether any expat…
The Physical Presence Test is one of two tests you take to determine your eligibility for the Foreign Earned Income Exclusion. To pass the Physical Presence Test, you need to…
Expats who pass the Bona Fide Residence Test are eligible for tax exclusions and benefits like: Who is eligible for Bona Fide Residence Test? Who is Not Eligible? The following…
Essentially, the FEIE is Form 2555 on a US tax return. It allows any qualifying and taxpaying American expat to exclude around 100k of foreign earned income from being taxed…
The FTC, or Foreign Tax Credit is an expat tax benefit that gives you a dollar-for-dollar reduction towards your foreign earned income. For example, if you paid 100 Euros to…
Any financial account (bank, pension, investment vehicle, etc.) that is located outside of the U.S.
Freaking out because you didn’t know you had to file your US taxes abroad? The Streamlined Filing Compliance Procedure allows you to catch up with your taxes by just filing…
Other Tax Refunds, Credits & Things to be aware of
Yes! The Foreign Housing Exclusion allows you to deduct the excess of housing expenses, paid by employer provided amounts that are over 16% of the FEIE amount of that year.…
Usually, when you file a US tax return, you’ll be asked to provide your US banking details, which is where the IRS direct deposits any refunds you may have. If…
A tax credit for certain people who work, meet certain requirements, and have earned income under a specified limit. This credit is not generally applicable for U.S. Expats due to…
The Basics (In case you need a refresher)
Expats who pass the Bona Fide Residence Test are eligible for tax exclusions and benefits like: Who is eligible for Bona Fide Residence Test? Who is Not Eligible? The following…
The FTC, or Foreign Tax Credit is an expat tax benefit that gives you a dollar-for-dollar reduction towards your foreign earned income. For example, if you paid 100 Euros to…
The end result of a quite complicated math equation (we handle this for you!) to understand how much of your gross income is actually taxable to the U.S. This includes…
Like dinosaurs, these use to exist but no longer do in 2018! In 2017 and prior, you would get an additional “buffer” to lower your tax bill depending on how…
The IRS provides a standard deduction (i.e. up to that amount of gross income is tax-free) or you can itemize expenses to lower your tax bill. The 2018 standard deduction…
Filing requirements and thresholds depends on your age, type, level of your income, as well as your marital status. If you have gross income* which goes over the filing status…
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