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Reducing Your Asset Base When Surrendering US Citizenship
This week’s question is a follow-up question from James from the Netherlands (long time, no see) – for his friend (of course). The...
Surrendering US citizenship, Tax Compliance and covered expatriate status
This week’s question is a follow-up question from James from the Netherlands – for his friend (of course). The question is: What if I just...
Taking Advantage of Your Canadian Retirement Account as a US Taxpayer
This week’s question comes from Kathleen from Canada. She heard that Canadian retirement plans (RRSPs) and account are treated as trusts...
Are Self-Employed US expats obliged to Paying Social Security Taxes?
And now, the final follow-up question from our digital nomad in Chiang Mai: Should I pay Social Security (SS) contributions or not? Before...
FBAR & FATCA Information
New rules on financial reporting from the FACTA will affect U.S. expats. FBAR applies to all U.S. taxpayers with a foreign account...
IRS increases de minimis safe harbor
On November 24, 2015, the IRS issued notice 2015-82, increasing from $ 500 to $ 2,500 the amount which can be expensed for tangible...
Offshore entity to avoid Social Security Tax (and a US one)
So, if despite (partially) losing social security benefits, you still want to avoid paying Social Security Tax by being employed by a...
The IRS might know what is in your non-US bank accounts. What can you do about it?
In a sign of the United States again thinking it can apply its laws in foreign countries, the IRS passed the FATCA law. This law is...
MAP: Dual Citizenship Around the World
Last updated on 3 January, 2020 Access the full article here http://www.movehub.com/blog/dual-citizenship-around-the-world-map Dual...
When are you no longer a US taxpayer (relinquishment after 2004)
Hello! This is Olivier Wagner from 1040 Abroad. This week’s question is: If you live outside the U.S. and relinquished US citizenship by...
What is form 5471? (and a Controlled Foreign Corporation)
Form 5471 is used by shareholders of foreign corporations. Several categories are required to report their ownership, starting with an...
Santa Taxation
Merry Christmas everyone. So, now the topic that all the good boys and girls were waiting for: Santa Taxation. * Is that thing that you...
A child’s tax return, the kiddie tax and the Net Investment Income Tax
I previously wrote about the filing obligation of dependents at Filing obligation of a 6-year-old, (child's investment) with the key...
Income tax and concerns regarding Revenue Procedure 2014-55
While not everything is good news, I think that the concerns found in this comment (similar to the ones voiced by Moodys Gartner here) are...
