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...
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 our utlimate guide to the taxation of foreign-owned LLCs on the Entity Inc...
A new BOI reporting requirement came into effect on January 1, 2024, for US and foreign entities that conduct business in the United States. BOI reporting refers to the obligation to report Beneficial Owner(s) Information (BOI) of certain business entities...
Canada has always been a popular destination for US Americans. Some are moving to Canada from the USA for the stunning natural scenery and welcoming culture. Others are driven by politics or business opportunities. In addition, US citizens living in Canada get to...
