This article covers the tax challenges of crypto reporting and why Form 1099-B is not a solution to accurately report cryptocurrencies to the taxing authorities. While the requirement to track and report traditional investments such as stocks, bonds, interests,...
The Foreign Earned Income Exclusion (FEIE) is a tax benefit available to American citizens, Greencard holders, and in some cases foreign individuals that become residents. It allows an exclusion of up to $112,000 (2022) of income earned in a foreign country from US...
Individual Retirement Accounts (IRAs) are an important part of retirement planning due to their great US tax advantages. Americans abroad however need to be aware of how expat tax benefits can affect retirement accounts such as Roth and Traditional IRAs. Expats who...
Did you know that over 100,000 American expats live in Germany? It is a popular destination due to a strong economy, excellent public transport, a robust education system, and of course… beautiful scenery, rich culture, and fantastic festivals, to name a few. Moving...
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...
Nearly 25,000 US citizens have legal residency in Costa Rica. The US State Department estimates that nearly another 100,000 may live there as “perpetual tourists” – coming and going every 90 days, but making Costa Rica their home. Living in Costa Rica can greatly...
This article has been moved to the website of our new brand Entity Inc, specialized in US business formation, tax & compliance for global entrepreneurs. You can read it here.
By Vincenzo Villamena, CPA You would think that moving away from the United States lets you off the hook from filing US state taxes. But unfortunately, some US states require that expats pay state taxes. It is a common misconception that you only file state taxes if...
Many US entrepreneurs set up an LLC in the beginning because it is straightforward and not too expensive. Generally, this is a good approach for the start as LLCs offer liability protection and other advantages. However, entrepreneurs are often not aware that with...
