In October 2019, the IRS issued some of the most significant cryptocurrency guidance yet and the first update in 5 years. Crypto users and expats alike eagerly anticipated his IRS guidance for the tax treatment of virtual currencies. The new 2019 IRS guidance answers...
Expat living can be expensive. Therefore, the IRS allows Americans living abroad to offset certain housing costs with the Foreign Housing Exclusion or Deduction. How much expats can save with the exclusion/deduction depends on where in the world they live. In this...
85sIt's easy to forget, with so much else going on this year, but it is tax time! Don't wait until the last minute for filing your expat taxes in 2025. If you will owe US tax, you must pay it by April 15, while Americans living abroad have until June 16 (as June 15 is...
The tax deadline is coming closer and you still don't have a good tax accountant? When you do a Google search for the best expat tax service or similar search terms, you probably first see a couple of ads, maybe even one of ours. We could just say, you can stop your...
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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...
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...
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...
