Filing taxes as a US expat may seem overwhelming, but with proper planning, you can stay compliant while maximizing tax-saving opportunities. Do US Expats Need to File Taxes? Yes! The US requires all citizens to file a tax return on their worldwide income, even if they live abroad. Expats must also comply with additional reporting…
Receiving an IRS audit notice can be stressful, especially for US expats managing taxes across multiple countries. However, understanding the audit process and knowing how to respond can help protect your finances and minimize penalties. Why Would an Expat Be Audited? Expats are often audited due to unreported foreign income, missing FBAR (Foreign Bank Account…
Originally it was thought the tax relief was on the horizon for expats when President Trump’s new tax program was put into law, but the reality is that nothing is really different from the new rules that apply to all US taxpayers: The major change regarding international taxpayers is how Controlled Foreign Corporations are handled….
Taking risks is never the easy route to go. This is especially true when the risk is taking a journey that will change your life and your family’s lives. Becoming an expatriate and moving overseas for a year or two is certainly a risky decision. However, it is a decision that will allow you…
Watch just one episode of Shark Tank, featuring entrepreneur Sharks like Mark Cuban, Barbara Corcoran, and Kevin O’Leary, and you’ll immediately understand that every company has a reason for existing. In fact, one of the first questions the Sharks ask contestants on the hit reality TV show is for them to ask their mission…
Just before Christmas, President Donald Trump signed the 1,100-page Tax Cuts and Jobs Act, or TCJA, into law. This reform of the tax code won’t affect your 2017 expatriate filings, but it will have an effect on your 2018 tax returns. This is meant as a general guide; you should always consult with a professional at Expatriate Tax Returns before…
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