Over 100,000 Americans live in Australia, many of them in Sydney or Melbourne. While it may feel far away from the United States, don’t forget about US taxes. American expats in Australia may need to file tax returns both in Australia and the US. The Australian tax...
Living abroad is an increasingly attractive option for US Americans as it offers many lifestyle benefits. In addition, qualifying as a bona fide resident in a foreign country or countries has a major tax benefit, the Foreign Earned Income Exclusion (FEIE)....
When you live or conduct business abroad, you often need a foreign bank account to make and receive payments locally. Or maybe you live in a country that requires you to set up a private foreign pension. Even when living in the US, you may have a foreign bank or...
Many Americans abroad use the Physical Presence Test to claim the Foreign Earned Income Exclusion to save on taxes. You often read in Facebook groups or other media that to qualify you must spend less than 35 days in the US per year. This sounds simple enough, right?...
Mexico has always been a popular destination for Americans, and after the pandemic the number of US expats moving to Mexico has grown exponentially. Living in Mexico is an expat dream, anything that you might want, from the most beautiful Quintana Roo and Oaxacan...
Did your cryptocurrency holdings lose in value this year? To optimize your US tax burden, you could realize those losses and use them to offset other capital gains. You can then buy crypto again at the current market rate. This is called tax loss harvesting and can be...
Renunciation – The voluntary act of relinquishing one’s citizenship or nationality Many expats may think that renouncing their US citizenship is a way to get rid of all US tax obligations and save money. In reality, however, the renunciation process is complex,...
Living in China as expat has its own set of challenges, as one of our team members experienced firsthand for a few years. Filing your US tax return from China shouldn’t be a challenge though. Here we explain what American expats in China should know about US taxes....
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...
