Spain is famous for its weather, food, and culture. Countless US expats have made it their home. Whether you prefer city life in Madrid or the beaches of Costa del Sol, Spain offers a high quality of life. However, many US expats find that living in Spain can...
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...
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...
Updated Jan 15, 2020, by John Hamilton, CPA A US-based LLC can have great tax advantages, especially for foreign entrepreneurs abroad. Even for US taxpayers, LLC taxes can be favorable. An LLC is a pass-through tax entity. What this means is that the LLC is not taxed...
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...
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...
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,...
By Vincenzo Villamena, CPA The 2017 Tax Cuts and Jobs Act created a new 20% deduction for pass-through income. At first glance, this sounds like a great tax saving for single-member LLCs and sole proprietors. Even shareholders and partners of S-Corporations and...
By Vincenzo Villamena, CPA Tracking travel expenses in order to get reimbursed or to deduct them from your taxes can be a lot of hassle. You have to keep detailed receipts for everything. One way however to simplify expense tracking is using a fixed per diem amount...
