IRS already announced the figures related to tax ranges and limitations for US expat pension plan holders for 2017. Overall, the ranges increased for eligibility determination including traditional IRAs (Individual Retirement Arrangements contribution deductibles, saver’s credit claiming, and Roth IRAs contributions. Only the contribution limits for the self-employed with SIMPLE pension accounts does not change. […]
There are several ways on how to lower taxes. For US expats, the advantages are even more with the help of exclusions, deductions, and credits. Seeking employment, doing business, or studying abroad with your family can be difficult at times. But if you have a child who is not of school age and you choose […]
There are several things to consider when you plan to spend the rest of your elderly years in another country. You will make your decision upon culture differences, cost of living, weather adjustments, healthcare services, and international relationships. Aside from these factors, you also have to take into account the Social Security payments, benefits, and […]
It is always more beneficial to plan ahead. A retirement plan is one of the things that every employee or business man should already be taking into consideration. As a US expat, you must adhere to certain guidelines when it comes to choosing the most ideal retirement plan. The next, and perhaps the last, chapter […]
It is a reality! As a US citizen staying or doing business overseas, it is possible for your passport to be revoked. The Internal Revenue Service is doing its best to catch up on US Citizens who are unfaithful in paying their taxes. Aside from strict guidelines on reporting and filing foreign assets, incomes or […]
Moving back to the United States after a long stay from a foreign country can be a relief. If you have experienced certain difficulties with tax forms and payments when starting to move out of the country before, you would not want to trap yourself again in the same unnecessary tensions. More knowledge will keep […]
Individuals who have foreign-source income or assets can now have a better option for reporting such offshore financial accounts. The “streamlined” procedures for filing foreign assets offer taxpayers the chance to move away from the strict compliance procedures under the traditional Offshore Voluntary Disclosure Programs (OVDPs). Aside from avoiding criminal offenses, qualified taxpayers may acquire […]
Unintentional failure to disclose foreign assets or foreign income such as offshore bank accounts may put US taxpayers in a dilemma. The traditional offshore voluntary disclosure programs (OVDPs) come with a negativism as they often place strict compliance and consequences for such unintentional behavior. Relief is offered by the new “streamlined” procedures announced by the […]
Have you been excessively worrying about arduous US tax filing laws that you have to abide by? Worrying is not going to help you solve your problem. You should get into active mode and start thinking about solving the problem of your international income being subjected to Expat tax. Although the new tax filing requirements […]
Whether you are a US citizen, a Resident Alien or an American Expatriate (Expat), there is no escaping tax. Since tax payment constitutes a major portion of your expenses and with the introduction of new tax filing forms requirements imposed by the Foreign Account Tax Compliance Act (FACTA), taking steps to ensure tax savings is […]
