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Foreign Housing

Foreign Housing There are two different aspects related to foreign housing:  deductions and exclusions, although they do have similar tax implications. The main difference between the two is that the exclusion must be employer-provided while the deduction requires the taxpayer to have self-employment income.   Foreign Housing Deductions For the foreign housing deduction it only…

The IRS Warns Taxpayers About Increasing Texting Scams

The IRS Warns Taxpayers About Increasing Texting Scams

Text messages themed like IRS announcements are on the rise according to the Internal Revenue Service. Thousands of scammers have already attacked taxpayers in 2022 through MMS and SMS text messages. Scamming through text messages is known as Smishing. Many smishing campaigns are often masked as Covid relief announcements, help establishing an IRS account, or…

Navigating Dual Tax Residency in 2024

Navigating Dual Tax Residency in 2024

For expatriates and cross-border workers, managing tax obligations can be particularly challenging, especially when dealing with dual tax residency. Being considered a tax resident in two countries simultaneously can lead to confusion and potentially double taxation. Understanding how to navigate dual tax residency is essential for financial peace of mind. What Is Dual Tax Residency?…