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For expatriates, tax season can often feel like navigating a labyrinth of international regulations and paperwork. As the tax landscape evolves, staying informed and prepared becomes increasingly crucial. Whether you’re a seasoned expat or embarking on your first tax-filing journey abroad, here are some essential tips to help you navigate expatriate tax returns in 2024:…
U.S. taxpayers who have a social security number AND filed a tax return in 2018 or 2019 may qualify for refundable tax credits. If you qualify, the maximum credit will be $1200 per taxpayer and $500 for each dependent child reported on your tax return that have a valid social security number. Don’t put off…
Did you know that back in 2013 there was a 221% increase in the fee to renounce your American citizenship? That was only a year ago. Now, the U.S. State Department has just raised the fee for renunciation of U.S. citizenship to $2,350 from $450. The State Department says its reason for doing this has to do with demand on their services and…
Living as an expatriate can be an exciting and rewarding experience, but it also comes with its share of complexities, especially when it comes to healthcare and taxes. While exploring new cultures and embracing the expat lifestyle, it’s crucial to ensure that you meet your tax obligations and have access to proper healthcare. In this…
Under the Corporate Transparency Act (CTA), most U.S. businesses are now required to file a Beneficial Ownership Information Report (BOIR) by January 1, 2025. This new mandate, overseen by the Financial Crimes Enforcement Network (FinCEN), aims to enhance transparency in business ownership and help prevent financial crimes. The BOIR requires businesses to report key details about their…