If you are required to file Form 8938, you must report your financial accounts maintained by a foreign financial institution. The following are considered reportable under the code: Financial accounts […]
Form 8938, statement of Specified Foreign Financial Assets Read More »
Required to be prepared and filed if you qualify for either physical presence test or Bona fide residence, exclusion amounts changes every year. For example, it was $105,900 in 2019
Form 2555. Foreign Income Exclusion Read More »
Planning for retirement can be an extraordinarily complex process, particularly when there are cross-jurisdictional issues like the Canada-US Tax Treaty. As a non-resident or expat, you will need to understand
U.S Taxes and Canadian Retirement plans Read More »
The country where I live does not tax it, So this is not an income? The IRS does not care how your foreign country, where you reside and make money
A US person may have international tax reporting obligations to the IRS if he owns more than 10% of the shares of a foreign corporation. US persons who may be
Reporting requirements for your interests in foreign corporations Read More »
American expats are happy to quickly end their tax ties to their former state of residence. Unfortunately, they are not always able to completely do so. This may result in
I do not have to file a state tax return because I moved abroad. Read More »
This is another area of frustration. Foreign mutual funds, exchange-traded funds (ETFs), and other pooled investments are generally classified as Passive Foreign Investment Companies for US Tax purposes or PFIC.
Are foreign investments treated like U.S. Investments? Read More »
During the COVID-19 pandemic, the US government passed three major laws that included stimulus payments for Americans living in the US and abroad. Reviewing these details will help U.S. expats
Stimulus Checks for US Citizens Living Abroad Read More »
Social Security for Expats Americans working abroad by foreign business normally participate in the social security system of their foreign employer. Self-employed Americans abroad, though, might likewise be needed to
Social Security Payments for Americans Working Abroad (Expats) Read More »
