Bona Fide Residence Test – Guide For Expats
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...
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...
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...
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...
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...
If you are a US expat, you have probably heard of the Foreign Earned Income Exclusion (FEIE). It's a popular way for Americans overseas to save on taxes. However, you can't claim it just with your...
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...
Living in a foreign country, learning about a new culture and language, and meeting new people is all fascinating. Even more, finding love abroad. Love knows no borders. If you are a US expat...
Moving abroad is an exciting decision for many Americans. However, US taxes for expats can be a headache. There are extra reporting requirements, different deadlines, and new exclusions and credits....
When global travel stalled and stay-at-home orders went into effect, many US expats rushed back to the USA. Other people ended up quarantining far from home. As a result, numerous US citizens,...
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...
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...