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US Expat taxes abroad

The Company is on my spouse name, do I still have to report it in my expat taxes?

Expat Taxes: Due to the complexity of US tax rules, some of the tax reduction and simplification ideas that are shared online among non-experts can turn out to be ingenious in the middle. The idea of ​​putting the business of a US citizen in the name of the foreign spouse is one of them. There …

The Company is on my spouse name, do I still have to report it in my expat taxes? Read More »

US Expat taxes abroad

I don’t need to worry about penalties for late filing because I never owe any U.S. tax.

Typically, penalties are calculated based on tax owed, international information returns, such as from 8938 can cost a taxpayer, if filed late, large penalties even of no tax is due. Some related penalties can reach up to $10,000 per form per month. Filing Form FinCEN 114 late or incorrectly can also result in hefty penalties. …

I don’t need to worry about penalties for late filing because I never owe any U.S. tax. Read More »

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