By Vincenzo Villamena, CPA When starting an Amazon business, every seller needs to understand the available business structures and Amazon seller tax implications. The best business structure for Amazon sellers A business structure should provide liability protection,...
Selling online through Amazon, eBay or any e-commerce site offers a great opportunity to make a location-independent income. If you are selling online in the US market and generate a steady income, be aware of the US tax implications. These five Amazon seller tax...
Moving abroad can be a hectic process. There are many things for Americans to consider when making a foreign country their home, taxes being one of them. Â New expats are understandingly concerned about how the move abroad will affect their US taxes. While many are...
October is a crucial month for US citizens with foreign financial accounts. This is because the final filing deadline to submit the Foreign Bank Account Report, also known as the FBAR, is on October 15. Failure to submit this report before the FBAR deadline can result...
While at first glance the Foreign Earned Income Exclusion might seem like the most alluring option, using Form 1116 to claim a Foreign Tax Credit can actually save some expats more money. In addition, US expats can even receive tax credits for use in the future. Here...
With the new year quickly approaching, now is the time for year-end tax planning, especially for expats! We share our top year-end tax tips here. With the right tax planning, Americans abroad can maximize tax deductions, credits, and exclusions as well as improve...
Vincenzo Villamena, CPA In the last decade, the number of US citizens renouncing their citizenship has increased drastically. Complex tax filing requirements and banking hassles related to FATCA accelerated this trend for US Americans living abroad. For many people,...
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...
A Roth IRA can provide such significant tax benefits, that many Americans even pay tax to convert a pre-tax retirement account to a Roth IRA. As an expat, you might be able to do a tax-free Roth IRA conversion because the IRS essentially allows you to double-dip. Who...
