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Taxes for U.S. expats living in Mexico
What U.S. citizens in Mexico need to know about their tax obligations? Are you one of the more than 1 million expats living out your...
Expat offshore banking: best overseas banks for US citizens
About expat offshore banking for US citizens We are regularly asked about expat offshore banking, best overseas countries, and banks for...
What are the 5 common tax mistakes US expats do?
What are the most common tax mistakes by Americans overseas? Today we want to share the top 5 tax mistakes by Americans living abroad. You...
The reality of owning a Controlled Foreign Corporation after Trump’s tax reform
Do you know that owning a Controlled Foreign Corporation got affected by New Tax Bill? In a nutshell, Trump's tax reform now means that...
It’s official: IRS ends Offshore Voluntary Disclosure program
The Internal Revenue Service finalized the plan to close the 2014 Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. A...
Foreign Tax Credit for US citizens living overseas
As you know, the United States requires all citizens and permanent residents (Green Card holders) to report worldwide income. You need to...
Are you an American for tax purposes or who needs to file a U.S. tax return?
Are you an American for tax purposes? The U.S. law has different classifications of who and what is considered to be an American...
5 things Americans overseas need to know about US tax reform
What are the important updates one needs to know about U.S. tax reform? The New Tax Bill "Tax Cuts and Jobs Act" presents the first major...
How does tax situation change when a U.S. citizen moves abroad?
As you probably are aware by now, U.S. citizens are taxed on their worldwide income regardless where they reside. If you haven’t heard...
Tax hacks: how to rent your apartment tax-free?
Renting your house or apartment is an excellent way to make some extra money! And now the online platforms make it even easier to achieve...
Tax deductions vs tax credits
Tax Credits and Deductions are probably the most exciting part when preparing your tax return. They both help you save money by reducing...
Advantages of claiming Foreign Tax Credit on U.S. expat tax return
As you are probably aware, U.S. persons living overseas, who meet certain minimum income thresholds, have to file their U.S. tax returns...
Tax traps for U.S. citizens living and working in Canada
In order to combat tax evasion, the United States has put in place many rules. Today we discuss the ones directed at US citizens investing...
Taxation of interests in foreign trusts for US expats
The U.S. income taxation of a foreign trust depends on whether the trust is a grantor or nongrantor trust: In the case of a foreign...
