By Vincenzo Villamena, CPA Hong Kong has been a favorite destination for US expats, and for us, too, although the current uncertainties may impact this. (See my recent article on Forbes.) Taxes are low in Hong Kong but the tax system is quite different from what...
Many expats working abroad are concerned that they still have to pay taxes in the US, even when they don’t live there anymore. The Foreign Earned Income Exclusion can alleviate this to a significant extent. Expats can exclude some or even all their foreign...
A US-based LLC can have a variety of advantages for both American and foreign entrepreneurs abroad. To open a US LLC you don’t even have to live in the US. An LLC is essentially a hybrid between a corporation and a partnership. It provides the limited liability of a...
In October 2019, the IRS issued some of the most significant cryptocurrency guidance yet and the first update in 5 years. Crypto users and expats alike eagerly anticipated his IRS guidance for the tax treatment of virtual currencies. The new 2019 IRS guidance answers...
Expat living can be expensive. Therefore, the IRS allows Americans living abroad to offset certain housing costs with the Foreign Housing Exclusion or Deduction. How much expats can save with the exclusion/deduction depends on where in the world they live. In this...
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