By Vincenzo Villamena, CPA Opinions of the US may vary on many topics, but it is difficult to argue that the US offers opportunities for lucrative investments. Not only the 320 million or so American citizens can invest in the US; almost anybody has the right to...
Many S Corporation owners pay business expenses with personal funds and advance or reimburse themselves. At tax time, they would owe personal tax on the advance or reimbursement. With an Accountable Plan, the S Corporation can classify expenses so that you won’t have...
By Vincenzo Villamena, CPA Update The 2017 tax reform brought new taxes for entrepreneurs with foreign businesses, including the transition tax on retained foreign earnings. The transition tax was a one-time event - it was there to be a transition from the pre-2017...
This article has been moved to the website of our new brand Entity Inc, that specializes in US business formation, tax & compliance for global entrepreneurs. Please click the link to read about the benefits of an LLC for non-resident service providers on the...
By John Hamilton, CPA As a US expat working abroad, you may have been offered a foreign life insurance policy. While this may sound like a good idea, it could be fraught with unintended US tax consequences. Oftentimes the foreign life insurance policy does not meet...
Before the election, President-elect Trump announced his intention to reform the US tax system for Americans living abroad, promising to end double taxation for expats. In his statement, Trump emphasized, "I support ending the double taxation of overseas Americans," a...
The UK is the number one destination in Europe for Americans who move across the Atlantic. Living in the UK offers many benefits, from a rich history and the cultural landmarks of London to charming countryside and vibrant towns - not to mention its pub culture, the...
For Americans living abroad, the Foreign Earned Income Exclusion (FEIE) can provide major tax savings. The FEIE allows to exclude up to $126,500 (in 2024, $130,000 in 2025) from US federal income taxes. It is available to Americans and Green Card holders living...
Americans living abroad must still file taxes in the United States. In addition, US expat taxes are more complex. This is because there are specific rules (and benefits!) when filing an American expatriate tax return. But thanks to these benefits, many expats don’t...
