# Online Taxman — Full Content Export > Complete service descriptions, FAQ answers, and article summaries for AI and RAG indexing. > For structured navigation and site directory, see https://onlinetaxman.com/llms.txt *Website*: https://onlinetaxman.com *Last Updated*: September 10, 2026 --- ## About Online Taxman Online Taxman (OTM) is a specialized accounting firm providing comprehensive US international tax services to American expats, foreign nationals with US tax obligations, and international entrepreneurs. Founded in 2010. Serving clients in 182 countries with 70+ tax professionals including CPAs and enrolled agents. Services: US expat tax preparation, FBAR/FATCA foreign asset reporting, IRS streamlined filing for back taxes, US business formation and compliance, expat tax planning, non-resident tax filing (Form 1040-NR), cryptocurrency taxes, expat bookkeeping, digital nomad taxes, US-owned foreign corporation reporting. Free consultations available. Secure client portal for document exchange. Year-round support beyond tax season. --- ## US Expat Tax Preparation *URL: https://onlinetaxman.com/us-expat-tax-preparation* Comprehensive tax return preparation for Americans living abroad. We specialize in claiming benefits, exclusions, and credits that most US-based accountants aren't familiar with. Ideal for US citizens, green card holders, digital nomads, remote workers, and expat employees living outside the United States. **Foreign Earned Income Exclusion (FEIE)**: Exclude up to $130,000 (2025) of foreign earned income from US taxation. Requires Physical Presence Test (330 days abroad in a 12-month period) or Bona Fide Residence Test (genuine residency in a foreign country for an entire tax year). We handle physical presence tracking, bona fide residence qualification, and timing strategies. **Foreign Tax Credit (FTC)**: Dollar-for-dollar credit for foreign income taxes paid. No income cap — often better than FEIE for high earners in high-tax countries. Credits cannot be claimed on the same income excluded under FEIE. We optimize between FEIE and FTC strategies and manage carryforwards. **Housing Exclusion / Deduction**: Qualifying housing expenses exceeding 16% of the FEIE limit may be excluded or deducted, up to a location-specific cap. **FBAR & Foreign Account Reporting**: FBAR (FinCEN Form 114) required when foreign accounts exceed $10,000 in aggregate at any point during the year. FATCA (Form 8938) required for foreign assets exceeding $200,000 (single expat) or $400,000 (married). **Key deadlines**: April 15 for US residents; June 15 automatic extension for expats abroad; October 15 extended deadline (Form 4868); October 15 FBAR deadline. ### FAQs — US Expat Tax Preparation **Q: Can I exclude my foreign earned income?** A: If you meet either the physical presence test (330 days abroad in 12 months) or bona fide residence test, you can exclude up to $130,000 (2025) of foreign earned income from US taxation. **Q: How does bona fide residency test work?** A: You must establish genuine residency in a foreign country for an uninterrupted period that includes an entire tax year, demonstrated through factors like visa status, housing arrangements, and integration into local life. **Q: Can I take a tax credit for tax I paid in other countries?** A: Yes, the Foreign Tax Credit allows you to offset US tax liability dollar-for-dollar with foreign income taxes paid, though credits cannot be claimed on the same income you exclude under FEIE. **Q: Am I eligible for the housing exclusion or housing deduction?** A: If you qualify for FEIE, you may also exclude or deduct qualifying housing expenses that exceed 16% of the FEIE limit, up to a location-specific cap. **Q: Can I deduct my travel expenses?** A: Travel expenses are generally only deductible if you're self-employed and the travel is for business purposes, not personal or commuting. **Q: What other deductions are available to me?** A: Standard expat deductions include self-employment expenses, student loan interest, IRA contributions, and certain moving expenses for active-duty military, though many domestic deductions phase out at higher income levels. **Q: How do I include rental or other income from the US?** A: US-source rental and investment income must be reported as taxable income on your return and cannot be excluded under FEIE, though you may be able to claim foreign tax credits if that income is also taxed abroad. **Q: Do I have to report my foreign bank accounts or other assets?** A: Yes, you must file FBAR if your foreign accounts exceed $10,000 at any point during the year, and Form 8938 (FATCA) if you meet higher thresholds based on your filing status and residence. **Q: What advanced tax strategies could I implement to help reduce my tax burden as an Expat?** A: Strategic timing of income recognition, optimal mix of FEIE and FTC, foreign corporation structures for business owners, and retirement account positioning can significantly reduce your overall tax burden when properly implemented. --- ## Foreign Asset Reporting (FBAR / FATCA) *URL: https://onlinetaxman.com/expats-fatca-fbar-reporting* Complete foreign account and asset compliance services. Over 10,000 FBARs filed. We guide US expats through FBAR, FATCA, PFIC reporting, and other complex foreign reporting requirements. **FBAR — FinCEN Form 114**: Required when the aggregate value of all foreign financial accounts exceeds $10,000 at any point during the calendar year. Covers bank accounts, brokerage accounts, mutual funds, and other financial accounts held at foreign institutions. Filed separately from the tax return with FinCEN. Deadline: October 15 (automatic extension). Penalties: up to $10,000 per violation for non-willful failures; up to the greater of $100,000 or 50% of account value for willful violations. **FATCA — Form 8938**: Report foreign financial assets exceeding $200,000 on the last day of the year OR $300,000 at any time (single expat); $400,000/$600,000 thresholds for married filing jointly. Covers broader assets than FBAR: foreign stocks, partnership interests, certain foreign pensions, foreign hedge funds. Filed with the tax return. **PFIC Reporting — Form 8621**: Foreign mutual funds, ETFs, unit trusts, and certain life insurance policies are classified as Passive Foreign Investment Companies. Require annual Form 8621 reporting. Two taxation methods: excess distribution method (punitive) or QEF/mark-to-market elections. We identify PFIC holdings and recommend the most favorable election. **Common compliance gaps**: Many expats don't know FBAR is required even when no tax is owed on the accounts. Foreign pension accounts, crypto on foreign exchanges, and foreign investment accounts often trigger FBAR and Form 8938 requirements that go unaddressed. ### FAQs — Foreign Asset Reporting **Q: What is foreign account and asset reporting?** A: It refers to the requirement for US citizens to disclose certain foreign financial accounts, assets, and investments to the IRS and other regulatory authorities. **Q: Which foreign asset and account forms do I need to file as a US expat?** A: Common forms include the FBAR (FinCEN Form 114) for foreign bank accounts and Form 8938 (FATCA) for specified foreign assets, depending on your account balances and asset types. **Q: Who is required to report foreign accounts and assets?** A: US citizens, resident aliens, and certain entities with financial interest in or signature authority over foreign accounts must comply if their combined account balances or asset values meet the minimum reporting thresholds. **Q: What types of foreign accounts must be reported?** A: Bank accounts, brokerage accounts, mutual funds, retirement accounts, and other financial accounts held outside the US must be reported if they exceed the reporting thresholds. **Q: What are the penalties for failing to report foreign accounts or assets?** A: Penalties can be severe, including fines, interest on unpaid taxes, and potential criminal liability in cases of willful non-compliance. **Q: Can you help me determine my reporting thresholds?** A: Yes. We review your foreign accounts and assets to identify if reporting thresholds are met and ensure all necessary filings are accurate and timely. **Q: How often must foreign accounts and assets be reported?** A: FBARs are filed annually by April 15 (with an automatic extension to October 15), while Form 8938 is typically filed with your annual US tax return. **Q: Do you provide ongoing support for foreign account compliance?** A: Absolutely. We offer continuous guidance, account monitoring, and updated reporting advice to help US expats remain compliant year-round. --- ## Streamlined Filing / Back Taxes *URL: https://onlinetaxman.com/streamlined-procedure-service-expats* IRS amnesty program for US expats with unfiled returns. 800+ streamlined filings completed. Average completion time: 6–8 weeks. The **IRS Streamlined Filing Compliance Procedures** allow non-willful taxpayers to catch up on past filings with reduced or no penalties. You can claim expat tax benefits like FEIE and FTC retroactively for the years you missed. **What the service includes**: - Eligibility assessment: review residency dates, evaluate non-willful certification, map required documentation - Three years of tax returns: prepare and file last 3 years of federal returns with all applicable exclusions, credits, and forms - Six years of FBAR filing: submit FinCEN Form 114 for all foreign accounts exceeding $10,000 in any covered year **Eligibility requirements**: - Lived outside the US for at least 330 days per year (or meet bona fide residence test) - Failure to file was non-willful — not intentional tax evasion - Not contacted by IRS about unfiled returns - Not currently under IRS examination or investigation **Non-willful determination**: This is a legal determination. Common non-willful situations include: didn't know US citizens abroad must file, moved abroad and assumed filing wasn't required, relied on incorrect advice from a tax preparer. Willful failure (knowing you had to file and deliberately didn't) is not eligible for the streamlined program. **Process**: Qualification review → document collection (3 years of tax docs, 6 years of bank statements) → return preparation and review → submission to IRS and FinCEN → monitoring for acceptance. ### FAQs — Streamlined Filing / Back Taxes **Q: How do I know if my failure to file was "non-willful"?** A: Non-willful means you didn't intentionally neglect your US filing and reporting obligations. Common non-willful scenarios include not knowing about the requirements or misunderstanding the rules. It's a legal determination that depends on your specific facts and circumstances. **Q: Will I owe back taxes?** A: It depends on various factors including your income sources, where you live, and what taxes you paid abroad. Many expats owe little or nothing if they claim the Foreign Earned Income Exclusion or Foreign Tax Credits. Others may owe significant amounts. We calculate your actual liability during the preparation process. **Q: What if I've already been contacted by the IRS?** A: If you've already received IRS correspondence about unfiled returns, you may not be eligible for the Streamlined Procedures. Other options may exist, including the Delinquent FBAR Submission Procedures or reasonable cause arguments. We can help you assess your situation. **Q: How far back do I need to go?** A: The Streamlined Procedures require three years of tax returns and six years of FBAR filings. The IRS can generally assess taxes for six years in cases of substantial underreporting. **Q: What documents will I need?** A: W-2s, 1099s, foreign income statements, foreign tax documents, and foreign bank and brokerage statements showing maximum account balances for each year. **Q: How long does the process take?** A: Most streamlined filings take 6-8 weeks from when we have all your documents to submission. IRS processing typically takes 4-6 months. **Q: What happens after I file?** A: The IRS processes your returns and may request additional information. If you're owed refunds, they're issued, or if you owe tax, you'll receive a bill. We help you through any follow-up correspondence. **Q: Can I do it myself?** A: Technically yes, but it can be complicated. The Streamlined Procedures involve calculations, multiple years of filings, and specific certification requirements. It's particularly important to get the non-willful certification right. **Q: What if I can't find all my old documents?** A: It's normally possible to reconstruct missing documentation using bank statements, employer letters, tax documents from your residence country, or IRS transcripts. --- ## US Business Formation & Tax Compliance *URL: https://onlinetaxman.com/us-business-formation-taxes* Complete business formation and ongoing tax compliance for international entrepreneurs and foreign nationals owning US businesses. 500+ US entities formed and maintained. 50+ countries represented. **Entity formation & structure strategy**: Analyze LLC vs. C-Corp options, evaluate US tax treaty implications, consider home country tax obligations. LLCs are popular for foreign entrepreneurs due to pass-through taxation and flexibility, but C-Corps may be preferable for VC funding or specific treaty situations. **Federal and state tax compliance**: Corporate tax returns (Form 1120 for C-Corps), partnership/LLC returns (Form 1065), S-Corp returns (Form 1120-S), state registrations and franchise taxes, estimated quarterly tax payments, annual filing deadline tracking. **Foreign owner reporting — Form 5472**: Every foreign-owned US LLC or US corporation with a foreign shareholder must file Form 5472 annually, reporting transactions between the US entity and its foreign owners or related parties. Required even with zero US-source income. Penalty: $25,000 per form per year for failure to file. We handle this reporting to ensure compliance. **Beneficial Ownership Information (BOI)**: FinCEN BOI reporting requirements for most US LLCs and corporations. Initial filing required and updates required within 30 days of any change in ownership. **Entity types**: Single-member LLC (default disregarded entity — simplest for foreign owners), multi-member LLC (partnership taxation), C-Corporation (separate tax entity, preferred for institutional investment), S-Corporation (not available to non-resident alien owners). ### FAQs — US Business Formation **Q: Do I need to be in the US to form a company?** A: No. We regularly help non-residents form and maintain US entities without visiting the United States. The entire process can be handled remotely. **Q: Which state should I incorporate in?** A: It depends on your business type, operating location, and future plans. We analyze factors like annual fees, tax treatment, and compliance requirements to recommend the right state for your situation. **Q: What's the difference between an LLC and corporation for foreign owners?** A: Tax treatment differs significantly. LLCs offer flexibility but may create treaty complications. C-Corps can reduce withholding taxes through treaties but may have double taxation on profits. We help you evaluate which structure works better for your specific circumstances. **Q: What are the ongoing compliance requirements?** A: At minimum: federal tax returns, state annual reports, and foreign owner disclosure forms. Specific requirements depend on your entity type, state of formation, and business activities. **Q: Can I be the only owner if I'm not a US resident?** A: Yes, non-US residents can be sole owners of US LLCs and corporations. Some entity types (like S-Corps) have ownership restrictions, but most structures are available to international owners. **Q: What withholding obligations do I have?** A: It depends on your entity structure, the type of business activity (whether it's effectively connected to a US business or not), and how you take distributions. We help you understand withholding requirements, treaty benefits, and strategies to minimize taxes on distributions to foreign owners. **Q: How do I bring money out of my US business?** A: Several options exist depending on your entity structure: distributions, salaries, loans, or reinvestment. We help you develop a tax-efficient strategy for profit repatriation that considers both US and home country tax implications. **Q: Do you help with ongoing bookkeeping?** A: Yes. We offer bookkeeping services to maintain accurate records for your US entity, ensuring clean books for tax filings and giving you clear visibility into your business finances. --- ## Expat Tax Planning *URL: https://onlinetaxman.com/expat-tax-planning* Proactive tax strategy for high-income expats and international entrepreneurs. We go beyond preparation to optimize your entire international tax picture. **FEIE vs FTC optimization**: Choosing between (or combining) the Foreign Earned Income Exclusion and Foreign Tax Credit is one of the highest-leverage decisions for expats. FEIE is often better in low-tax countries; FTC is often better in high-tax countries like Germany, UK, France. We model both scenarios. **Entrepreneur and self-employment planning**: Self-employed expats face unique challenges — US self-employment tax applies to foreign earnings even if you qualify for FEIE. We advise on entity structuring (LLC, S-Corp, foreign entity) to minimize SE tax while staying compliant. **Income timing strategies**: Timing income recognition, deductions, and asset sales across tax years to minimize combined US and foreign tax burden. **State tax domicile planning**: Moving abroad does not automatically end state tax residency. California, New York, Virginia, and other states may assert ongoing tax obligations even when living abroad. We advise on the steps needed to properly sever state tax ties. **Investment optimization**: Cross-border investment strategies, PFIC identification and avoidance, retirement account optimization (Traditional vs Roth IRA contributions while abroad, SDIRA strategies, foreign pension treatment). ### FAQs — Expat Tax Planning **Q: What is tax planning for expats and entrepreneurs?** A: Tax planning is a forward-looking approach to managing US taxes while abroad, optimizing income, investments, and business structures to reduce liability and maximize financial efficiency. **Q: How can business structuring benefit American entrepreneurs abroad?** A: Choosing the right entity type, location, and ownership structure can minimize US and foreign taxes, simplify reporting, and improve long-term operational and financial flexibility. **Q: Can tax planning help me legally reduce my US tax liability?** A: Yes, through strategies like utilizing foreign tax credits, exclusions, deductions, and entity planning, you can significantly lower taxes within IRS rules. **Q: How does investment planning fit into expat tax strategy?** A: Careful allocation and timing of investments, including in international accounts, can minimize taxable gains, take advantage of favorable treatments, and align with your long-term goals. **Q: What role does timing of income and expenses play in planning?** A: Shifting income recognition, deferring gains, or accelerating deductible expenses can reduce current-year taxes and help manage cash flow efficiently across jurisdictions. **Q: Can proactive planning help me avoid FBAR or FATCA penalties?** A: Yes, by structuring accounts and investments strategically, maintaining accurate records, and filing timely reports, you can stay compliant and avoid costly penalties. **Q: How often should I revisit my tax plan while living abroad?** A: Regular reviews (at least annually or after major business, investment, or residency changes) ensure strategies remain effective and compliant with evolving US and foreign regulations. **Q: What are the biggest benefits of proactive tax planning for expats?** A: Reduced tax liability, improved cash flow, simplified reporting, risk mitigation, and strategic business and investment growth are all key advantages for Americans living overseas. --- ## Non-Resident US Tax Filing *URL: https://onlinetaxman.com/non-resident-us-tax-filing* Form 1040-NR preparation for foreign nationals with US-source income or US business activities. 1,000+ Form 1040-NR returns filed successfully. **Form 1040-NR — who must file**: Non-US citizens (non-resident aliens) who earn income effectively connected with a US trade or business, or who earn US-source income subject to withholding at a flat rate. Also applies to foreign nationals who were US residents for part of the year (dual-status returns). **ECI vs FDAP income distinction**: Effectively Connected Income (ECI) from a US trade or business is taxed at graduated rates — the same rates as US residents — and allows deductions for business expenses. Fixed, Determinable, Annual, or Periodical (FDAP) income such as dividends, interest, rents, and royalties is taxed at a flat 30% or lower treaty rate, with no deductions allowed. **Tax treaty benefits**: The US has tax treaties with 60+ countries that reduce withholding rates on FDAP income, eliminate or reduce tax on certain types of income, and prevent double taxation. We identify and maximize applicable treaty benefits. **FIRPTA**: Foreign Investment in Real Property Tax Act requires 15% withholding on the gross sales price when a non-resident alien sells US real property. We handle FIRPTA withholding certificates and final tax returns. **Form 5472**: Required for foreign-owned single-member LLCs and US corporations with 25%+ foreign ownership, reporting all transactions with related parties. $25,000 penalty for non-filing. **Filing deadlines**: April 15 if wages received subject to US withholding; June 15 if no wages subject to withholding (no form needed for extension to this date). ### FAQs — Non-Resident US Tax Filing **Q: Do I need to file a US tax return if I'm not a US citizen or resident?** A: Yes, if you're engaged in a trade or business in the United States, own a US business entity like an LLC, earn US-source income, or have investments that generate US income, you typically need to file Form 1040-NR. Filing requirements depend on your specific situation and the type of income you receive. **Q: What is the difference between Effectively Connected Income (ECI) and FDAP income?** A: Effectively Connected Income is business income tied to a US trade or business, taxed at graduated rates similar to US citizens. FDAP (Fixed, Determinable, Annual, or Periodical) income includes passive income like dividends, interest, and royalties, typically taxed at a flat 30% rate unless reduced by treaty. **Q: What is Form 1040-NR and when do I file it?** A: Form 1040-NR is the US Nonresident Alien Income Tax Return. If you have wages or run a US business, you generally file by April 15. If you don't have a US office or receive wages subject to withholding, your deadline is typically June 15. **Q: Can I claim deductions on my Form 1040-NR?** A: Yes, but only certain deductions apply to non-resident aliens. You can claim deductions related to your Effectively Connected Income, such as business expenses. However, you cannot claim the standard deduction and have limited access to tax credits available to US residents. **Q: What is a tax treaty and how does it affect my US taxes?** A: Tax treaties are agreements between the US and other countries designed to prevent double taxation and reduce withholding rates on certain types of income. If your home country has a treaty with the US, you may qualify for reduced tax rates or exemptions on specific income types. **Q: Do I need to file Form 5472 for my US LLC?** A: Yes, if you're a non-resident alien who owns a single-member LLC (or own it through a foreign entity), you must file Form 5472 along with a pro forma Form 1120 annually, even if your LLC has no US-source income. Failure to file can result in significant penalties. **Q: What is FIRPTA and how does it affect me when selling US real estate?** A: FIRPTA (Foreign Investment in Real Property Tax Act) requires buyers to withhold 15% of the sales price when purchasing US real estate from foreign sellers. This withholding serves as an advance payment toward your actual tax liability, which you report on Form 1040-NR. **Q: Can I avoid FIRPTA withholding?** A: You may reduce or eliminate FIRPTA withholding by applying for a withholding certificate from the IRS before closing, demonstrating that your actual tax liability is less than the withholding amount. Certain exemptions also apply for lower-priced residential properties. **Q: How are dividends from US stocks taxed for non-residents?** A: Dividends from US stocks are generally subject to 30% withholding tax for non-resident aliens. However, if your country has a tax treaty with the US, you may qualify for a reduced rate, often 15% or lower. **Q: Do I need to report my foreign bank accounts or assets to the US?** A: Generally, non-resident aliens are not required to file FBAR or FATCA reports for foreign accounts. However, if you become a US tax resident or have other US filing obligations, these requirements may apply. **Q: What happens if I'm in the US for more than 183 days?** A: If you're physically present in the US for 183 days or more in a year and meet certain conditions, you may be subject to a 30% tax on US-source capital gains. You may also trigger substantial presence test issues that could change your tax residency status. **Q: What is dual-status and when does it apply?** A: Dual-status occurs when you're a non-resident alien for part of the year and a resident alien for another part, typically when moving to or from the US mid-year. This requires filing both Form 1040 and Form 1040-NR with specific statements attached. **Q: Can I structure my US business to minimize taxes?** A: Yes, strategic entity structuring can help minimize your US tax burden. Depending on your business activities and income sources, choosing between an LLC, C-Corporation, or other structures can significantly impact your tax obligations. Proper structuring should consider both US and home country tax implications. **Q: What if I haven't filed US tax returns in previous years?** A: If you have unfiled US tax returns, we can help you come into compliance. Depending on your situation, you may need to file several years of back returns. The approach depends on whether you had filing requirements and the type of income involved. **Q: Do I need a US tax identification number?** A: If you need to file a US tax return or own a US business entity, you'll need either a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). We can help you apply for an ITIN as part of the tax filing process. **Q: How is rental income from US property taxed?** A: Rental income from US real estate can be treated two ways: as FDAP income subject to 30% gross withholding, or you can elect to treat it as Effectively Connected Income, allowing you to deduct expenses and pay tax on net income at graduated rates. **Q: What business activities create a US tax filing requirement?** A: Generally, if you're engaged in a trade or business in the US, you have a filing requirement. This includes operating a business, providing services, or maintaining an office. However, simply owning investment property or having a passive LLC may not create the same obligations. **Q: Can I get a refund if too much was withheld?** A: Yes, if withholding on your US income exceeds your actual tax liability, you can file Form 1040-NR to claim a refund. This commonly occurs with FIRPTA withholding on real estate sales or excess withholding on investment income. **Q: What records should I keep for US tax purposes?** A: Keep documentation of all US-source income, business expenses, treaty claims, withholding statements (Forms 1042-S, 1099), real estate transactions, and any correspondence with the IRS. Good records are essential for accurate filing and potential audits. **Q: How long does it take to process a Form 1040-NR?** A: The IRS typically takes longer to process Form 1040-NR returns than regular Form 1040 returns, often 6 months or more, especially if claiming treaty benefits or requesting refunds. E-filing when available can help speed up processing. --- ## Cryptocurrency Taxes *URL: https://onlinetaxman.com/crypto-bitcoin-taxes* Specialized crypto tax services for Americans abroad. Handling crypto taxes since 2013. 500+ expat crypto clients served. **How crypto is taxed in the US**: Cryptocurrency is treated as property, not currency. Every sale, trade, or use of crypto to purchase goods or services is a taxable event requiring recognition of capital gain or loss. Crypto received as compensation, staking rewards, mining income, or airdrops is ordinary income at fair market value on receipt. **Form 8949**: Report every crypto disposal (sales, trades, exchange swaps, payments for goods/services). Each transaction requires: date acquired, date sold, proceeds, cost basis, and gain/loss. **Annual crypto tax reporting**: Form 8949 for transaction-level reporting, Schedule D for net capital gains/losses, Schedule 1 for crypto income (staking rewards, mining, airdrops), Schedule C if crypto activities constitute a trade or business. **Multi-exchange reconciliation**: Calculate accurate cost basis across Coinbase, Binance, Kraken, Uniswap, MetaMask, and other platforms. Identify like-kind exchanges (no longer allowed for crypto after 2017), wash sale rules (do not apply to crypto), and track transfers between wallets that are not taxable events. **FBAR and FATCA for crypto**: Crypto held on foreign exchanges (non-US platforms) may trigger FBAR filing if the aggregate USD value exceeds $10,000 at any point during the year. Form 8938 applies if total foreign financial assets exceed applicable thresholds. **DeFi, NFTs, and staking**: DeFi liquidity provision, yield farming, NFT creation and sales, and staking all have specific tax treatment that requires careful analysis. ### FAQs — Cryptocurrency Taxes **Q: Do I need to report crypto if I'm just holding it?** A: Simply owning cryptocurrency doesn't create a tax obligation. You report crypto transactions when you dispose of it (selling, trading, spending) or receive it as income. However, if you hold crypto on foreign exchanges with values exceeding $10,000, you may have FBAR reporting requirements even if you haven't sold anything. **Q: What if I've been trading crypto for years and never reported it?** A: This is a common situation we help expats address. The Streamlined Filing procedures may allow you to file amended returns for the past three years and come into compliance. The process requires certifying that your non-compliance was non-willful, calculating the tax and interest owed, and submitting the complete filing package. We help clients evaluate whether they qualify and prepare the necessary filings. **Q: How do you calculate cost basis when I've moved crypto between exchanges?** A: Transfers between your own wallets or exchanges aren't taxable events, but they complicate cost basis tracking. We trace your holdings through transfers to maintain accurate acquisition dates and costs. This becomes particularly important when you've acquired crypto across multiple years, exchanges, or countries, as the cost basis determines your capital gain or loss when you eventually sell. **Q: Do I need to report every single transaction?** A: Yes. Every disposal of cryptocurrency (selling, trading, spending) needs to be reported on Form 8949. This includes trading one crypto for another, which many people don't realize is a taxable event. If you have hundreds or thousands of transactions, we work with the transaction exports from your exchanges to report them properly. **Q: What about crypto received as business income?** A: Cryptocurrency received as payment for services is taxed as ordinary income at its fair market value when you receive it. You report this income on Schedule C if you're self-employed. Later, when you sell that crypto, you'll have a capital gain or loss based on how the value changed since you received it. This creates two separate reporting requirements. **Q: Can I offset crypto losses against other income?** A: Capital losses from crypto can offset capital gains from other sources. If your capital losses exceed your gains, you can deduct up to $3,000 against ordinary income per year, with the remaining losses carried forward to future years. This is the same treatment as losses from stocks or other capital assets. **Q: What if my crypto exchange is based outside the US?** A: The location of your exchange doesn't change your US reporting requirements. You still report all crypto transactions the same way regardless of where the exchange is based. However, holding crypto on foreign exchanges may trigger FBAR reporting if the aggregate value exceeds $10,000 at any point during the year. **Q: How far back does the IRS expect me to report?** A: The general statute of limitations is three years from when you filed your return. However, if you omitted more than 25% of your income, the IRS has six years. For unfiled returns, there's no statute of limitations. Through the Streamlined Filing procedures, expats typically file amended returns for the past three years plus the current year. **Q: How is crypto staking taxed?** A: Staking rewards are generally treated as ordinary income at their fair market value when you receive them. This income is reported on Schedule 1 of your tax return. Later, when you sell or trade those staking rewards, you'll have a capital gain or loss based on how the value changed since you received them. This creates two separate tax events: income when received, and capital gains/losses when disposed of. --- ## Expat Bookkeeping Services *URL: https://onlinetaxman.com/expat-bookkeeping-services* Multi-currency bookkeeping for expat businesses and international entrepreneurs. QuickBooks Platinum certified, Xero Advisor credentialed. **Bookkeeping packages**: Mini — $179/month: Ideal for new small businesses. Cash basis, up to 2 accounts, 600 transactions/quarter, quarterly reports, CA/CPA-reviewed annual financial statements, QuickBooks fees included. Starter — $249/month: Ideal for growing businesses. Cash basis, up to 4 accounts, 250 transactions/month, monthly reports, multi-currency accounting, QuickBooks Simple Start included. Pro — $499/month: Ideal for established businesses. Cash or accrual basis, up to 6 accounts, 500 transactions/month, invoicing (up to 15 invoices/month), 5 Form 1099-NEC, budgeting and review, QuickBooks Essentials included. All packages include CA/CPA-reviewed annual financial statements and a dedicated bookkeeper. **Platforms**: QuickBooks and Xero. **Specialties**: Cross-border accounting, multi-currency transaction reconciliation, US GAAP and local reporting compliance. ### FAQs — Bookkeeping **Q: What bookkeeping services do you offer for American expats and non-residents?** A: We provide full-service bookkeeping for both US and foreign entities, including transaction recording, account reconciliation, financial reporting, and compliance support for both US and foreign entities. **Q: Can you handle bookkeeping for multiple currencies?** A: Yes. We specialize in multi-currency bookkeeping, ensuring accurate conversions, reconciliations, and reporting that comply with both US and general accounting standards. **Q: Do you work with both individuals and business entities?** A: Absolutely. We assist individual expats, freelancers, and small-to-medium businesses with bookkeeping and financial recordkeeping across jurisdictions. **Q: How do you ensure compliance with US tax laws while abroad?** A: We specialize in accounting services for expats and international entrepreneurs, maintaining records that align with US tax obligations and support accurate annual filings. **Q: Can you integrate with my existing accounting software?** A: Yes. We work with QuickBooks, Xero, FreshBooks, and other major platforms, seamlessly syncing your data for efficient bookkeeping. **Q: What's the difference between bookkeeping for US and foreign entities?** A: US entities follow GAAP, while foreign entities may use local accounting standards. We ensure consistency, accuracy, and compliance across both systems. **Q: How often will I receive financial reports?** A: We offer flexible reporting schedules — monthly, quarterly, or annually — based on your needs and the complexity of your financial activities. **Q: Is your bookkeeping service suitable if I move between countries frequently?** A: Yes. Our cloud-based systems and international expertise make it easy to manage your finances and access reports securely from anywhere in the world. --- ## US-Owned Foreign Corporations *URL: https://onlinetaxman.com/us-owned-foreign-corporation* Tax compliance for US persons owning foreign corporations. Form 5471, GILTI, Subpart F, and CFC reporting handled by specialists. **Form 5471 — Information Return of US Persons with Respect to Certain Foreign Corporations**: Required for US citizens or residents who are officers, directors, or shareholders of certain foreign corporations. Categories 1–5 define who must file and what schedules are required. Penalty for failure to file: $10,000 per form per year, up to $50,000 if failure continues after IRS notice. **Controlled Foreign Corporation (CFC)**: A foreign corporation in which US shareholders (each owning 10% or more) together own more than 50% of the vote or value. CFC rules require annual Form 5471 and may trigger current US tax on certain income even if no distribution is made. **GILTI — Global Intangible Low-Taxed Income**: Enacted in the Tax Cuts and Jobs Act (2017). US shareholders of CFCs must include their pro-rata share of GILTI in gross income annually. GILTI is calculated as CFC income exceeding a 10% return on tangible assets. Domestic corporations may claim an 80% deduction; individual shareholders face full GILTI inclusion at ordinary income rates unless a Section 962 election is made. **Subpart F Income**: Certain categories of passive and related-party income earned by CFCs must be included in the US shareholder's income in the year earned, regardless of whether a distribution is made. Includes foreign personal holding company income, foreign base company sales income, and foreign base company services income. **CFC structuring and planning**: Strategies to minimize GILTI and Subpart F exposure include check-the-box elections, high-tax exclusion elections, Section 962 elections for individual shareholders, and operational structuring to generate qualified business asset investment (QBAI). ### FAQs — US-Owned Foreign Corporations **Q: What is Form 5471 and do I need to file it?** A: Form 5471 is an informational return required by the IRS for US persons who are officers, directors, or shareholders of certain foreign corporations. If you own 10% or more of a foreign corporation, you almost certainly need to file. Failure to file can result in penalties of $10,000 per form, per year. **Q: What is GILTI and how does it affect me?** A: GILTI (Global Intangible Low-Taxed Income) is a US tax provision that requires US shareholders of Controlled Foreign Corporations (CFCs) to include certain income of the foreign corporation on their personal US tax return, even if that income hasn't been distributed. We help you calculate your GILTI inclusion and identify strategies to minimize the impact. **Q: What is Subpart F income?** A: Subpart F income includes certain types of passive and mobile income earned by a Controlled Foreign Corporation (CFC), such as interest, dividends, rents, and royalties. This income is taxed to US shareholders in the year it is earned by the CFC, regardless of whether it is distributed. Proper planning can help minimize Subpart F exposure. **Q: What are the penalties for not filing Form 5471?** A: The IRS imposes a $10,000 penalty for each Form 5471 that is filed late or incomplete. If you do not file within 90 days of an IRS notice, an additional $10,000 penalty applies for each 30-day period, up to a maximum of $60,000 per return. If you have unfiled returns, we can help you get back into compliance. **Q: What is a Controlled Foreign Corporation (CFC)?** A: A CFC is a foreign corporation where US shareholders (each owning 10% or more) collectively own more than 50% of the total voting power or value. If your foreign company qualifies as a CFC, it triggers additional US reporting requirements including Form 5471, GILTI calculations, and Subpart F income reporting. **Q: Can you help me structure my foreign corporation to minimize US tax?** A: Yes. Through proper planning, we can help you structure your foreign operations to minimize GILTI and Subpart F exposure, optimize the use of foreign tax credits, and ensure your business structure aligns with both your operational needs and US tax obligations. Our team works with you year-round to adapt to changing tax laws. --- ## Digital Nomad Taxes *URL: https://onlinetaxman.com/us-taxes-for-digital-nomads* Tax guidance for remote workers and location-independent entrepreneurs. Our team includes current and former nomads who understand the lifestyle firsthand. Digital nomads face unique tax complications: perpetual travel may complicate the Physical Presence Test for FEIE, US state taxes may still apply, and business structure (LLC, S-Corp, foreign entity) significantly affects tax liability. **FEIE for perpetual travelers**: The Physical Presence Test requires 330 full days outside the US in any 12-month period. Days in transit count if not in the US. Perpetual travelers with no fixed foreign country of residence cannot use the Bona Fide Residence Test — only the Physical Presence Test applies. **Self-employment tax**: US self-employment tax (15.3% on first ~$170,000) applies to net self-employment earnings regardless of FEIE exclusion. An S-Corp structure may reduce SE tax exposure for high-earning nomads. **State tax obligations**: Some states (notably California, New York, Virginia, South Carolina) may continue to assert tax jurisdiction even after moving abroad. Properly severing domicile requires specific steps. **Clients include**: Amazon sellers, e-commerce entrepreneurs, virtual service providers, SaaS founders, remote employees, real estate investors, freelancers in creative fields, and online educators. --- ## General & Onboarding FAQs **Q: Do I need to have a paid plan to use Box.com? Does Box.com cost money?** A: No. You do not need to pay anything to use Box.com with Online Taxman. You can create a free personal account. We send you an email with a link. **Q: I have uploaded my documents to Box.com. Why can’t my accountant see them?** A: Make sure that you join Box.com using the link in the email. It includes a special invite to collaborate. Next, be sure that your documents are inside the folder with your name on it. As a general rule, if you can see the folder with your name on it and your documents at the same time, then they are outside your folder and we cannot see them. Drag and drop the documents into the folder with your name on it. See the “How to Use Box” videos. **Q: How do I save my Tax Organizer?** A: If you’re not ready to submit, you can stop & save your Tax Questionnaire by scrolling down and clicking Save and Continue Later. See the video “How to Use the Tax Organizer”. --- ## Key Tax Concepts Reference **Physical Presence Test**: 330 full days outside the US in any 12-month period (not necessarily the calendar year). Satisfying this test qualifies you for FEIE and the June 15 filing extension. **Bona Fide Residence Test**: Genuine, uninterrupted residency in a foreign country for an entire calendar year. Requires integration into local life — not just physical presence. Cannot be used by perpetual travelers. **Foreign Earned Income Exclusion (FEIE)**: Excludes up to $130,000 (2025) of foreign earned income from US taxable income. Earned income means wages, salaries, self-employment income — not passive income (dividends, interest, capital gains). **Foreign Tax Credit (FTC)**: Dollar-for-dollar reduction of US tax liability for income taxes paid to foreign governments. No exclusion cap. More beneficial than FEIE for expats in high-tax countries or with high passive income. **FBAR (FinCEN Form 114)**: Required when total value of foreign financial accounts exceeds $10,000 at any point during the year. Filed online with FinCEN (not the IRS). October 15 deadline. $10,000+ penalties for non-willful non-compliance. **Form 8938 (FATCA)**: Broader than FBAR — covers foreign financial assets. Filed with the tax return. Higher thresholds: $200,000 (single expat at year end) or $300,000 (at any time during the year). $10,000 penalty for failure to file. **PFIC**: Foreign mutual funds, ETFs, and certain investment structures qualify as Passive Foreign Investment Companies under US law. Subject to punitive US taxation unless QEF or mark-to-market elections are made. Common for expats holding non-US investment accounts. **ECI vs FDAP**: Effectively Connected Income from US trade/business taxed at graduated rates with expense deductions allowed. FDAP (passive income) taxed at 30% flat or lower treaty rate, no deductions. **Dual-Status Return**: Filed by individuals who change US resident status during the year (moving abroad mid-year, or returning to the US). Covers part-year resident and part-year non-resident periods on a single return. **Section 965 / TCJA Transition Tax**: One-time deemed repatriation tax on accumulated foreign earnings for US shareholders of CFCs. Most commonly encountered when a client has had a CFC for years prior to 2018. --- ## Blog Articles ### US Expat Taxes in Canada: The Complete Guide for 2026 *Published: 2026-09-10 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-expat-taxes-canada* Canada is the most common destination for Americans moving abroad. Shared language, geographic proximity, a robust economy, and universal healthcare make it a natural first step. It is also the country where the two tax systems interact most frequently, and where the planning decisions most commonly get made by default rather than by design. The […] ### US Expat Taxes in the UK: The Complete Guide for 2026 *Published: 2026-08-26 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-tax-guide-american-expats-uk* The UK is one of the most popular destinations for Americans moving to Europe. It is also one of the most complex from a tax perspective, because both countries tax comprehensively and because the UK’s rules changed significantly in April 2025. The non-domicile regime that many long-term US residents in the UK had relied on […] ### The Global Minimum Tax and What It Means for Your Expat Planning *Published: 2026-08-18 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/global-minimum-tax-expat-planning* For years, a certain category of international tax planning was built around one premise: some countries tax income at zero, and if you structure your life correctly, you can live in one. That premise is not gone. But it is getting smaller every year. The OECD’s global minimum tax framework, known as Pillar Two, has […] ### US Expat Taxes in Germany: The Complete Guide for 2026 *Published: 2026-08-10 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-expat-taxes-germany* Germany is one of the most popular destinations for American expats in Europe. Strong economy, excellent infrastructure, world-class cities, and a straightforward path to long-term residency. Germany’s high tax rates often come with an unexpected advantage for many Americans: paying more in Germany often reduces, and sometimes eliminates, their US federal income tax bill. This […] ### GILTI Is Gone: What the NCTI Replacement Means for US Expats With Foreign Companies in 2026 *Published: 2026-08-03 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/gilti-replaced-ncti-2026-expats* If you own a foreign corporation as a US citizen, something significant changed on January 1, 2026, and it affected your 2026 tax year from the first day of January. The Global Intangible Low-Taxed Income regime, GILTI, which has applied to US shareholders of controlled foreign corporations since 2018, was replaced by a new framework […] ### Your First Year Abroad and the Physical Presence Test: What to Track Now *Published: 2026-07-27 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/physical-presence-test-first-year-tracking* The Physical Presence Test started counting the day you left the United States. Most people who move abroad do not realize this until they are trying to file their first expat return, at which point they have months of undocumented travel and a growing sense that they may have already made an expensive mistake. The […] ### How to Establish Your Tax Home Abroad *Published: 2026-07-20 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/how-to-establish-tax-home-abroad* Before you can claim the Foreign Earned Income Exclusion, before you can use the Bona Fide Residence Test or the Physical Presence Test, before any of the tools that protect Americans abroad from double taxation become available to you, one foundational requirement has to be met. Your tax home must be in a foreign country. […] ### I Just Moved Abroad: What Do I Need to Do About US Taxes? *Published: 2026-07-06 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/just-moved-abroad-us-taxes* The boxes are unpacked. You have a local bank account. Life abroad is starting to feel real. And somewhere in the back of your mind, you know you need to figure out the US tax piece. The good news is that this is more manageable than most people expect. The less good news is that […] ### Why I Didn’t Renounce My US Citizenship — And What I Do Instead *Published: 2026-06-29 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/should-i-renounce-us-citizenship* A lot of successful Americans are seriously considering renouncing their US citizenship right now. Higher taxes, more reporting, more restrictions. The idea of just being done with it has never been more popular. I spent over three years seriously considering it myself. I had a second passport ready through Italian ancestry. I had the country […] ### The Truth About IRS Taxes After You Leave the US *Published: 2026-06-24 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/irs-taxes-after-leaving-us* If you have spent any time on YouTube or in expat forums lately, you have probably seen some version of this claim: “The IRS will tax you for ten years after you leave the United States.” New law. Massive penalties. No escape. Some of that is true. Most of it is exaggerated. And a meaningful […] ### 10 Reasons Americans Are Moving Abroad (And What It Actually Takes to Make It Work) *Published: 2026-06-08 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/reasons-americans-moving-abroad* More Americans are leaving the United States right now than at any point in modern history. The State Department processes record numbers of expat-related filings every year, and the trend is accelerating. I’m not going to tell you whether you should leave. What I can tell you is what my clients actually say when they […] ### Avoid These Mistakes Before Moving Your LLC Abroad *Published: 2026-06-01 | Categories: Business Tax For International Entrepreneurs, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/avoid-these-mistakes-before-moving-your-llc-abroad* If you own a US LLC and you are about to move abroad, the next six months carry a level of tax risk most people do not see coming. The assumption most LLC owners make is that moving is a personal change. The LLC stays registered in the US, the income keeps coming in, and […] ### US Expat Taxes in Portugal: The Complete Guide for 2026 *Published: 2026-05-28 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-expat-taxes-portugal* Portugal has become one of the most popular destinations for Americans moving abroad. The lifestyle, the cost of living relative to Western Europe, and for several years, an unusually favorable tax regime drew a steady stream of US expats to Lisbon, Porto, and the Algarve. The tax landscape in Portugal has changed significantly since 2024. […] ### Bona Fide Residence Test vs Physical Presence Test: Which One Qualifies You for the FEIE? *Published: 2026-05-27 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/bona-fide-residence-test-vs-physical-presence-test* The Foreign Earned Income Exclusion can eliminate US federal income tax on up to $130,000 of income you earn abroad in 2025. To claim it, you need to qualify under one of two tests: the Bona Fide Residence Test or the Physical Presence Test. They sound like they accomplish the same thing. Technically, they do. […] ### Tax Strategies for US Citizens Married to Non-US Citizens *Published: 2026-05-25 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/tax-strategies-for-us-citizens-married-to-non-us-citizens* Most people think of marriage as a personal milestone. The IRS thinks of it as a filing status decision. If you are a US citizen married to a non-US citizen, your wedding created tax obligations and planning opportunities that your spouse’s country almost certainly does not have. The US tax system treats mixed-citizenship marriages differently […] ### Residence-Based Taxation for Americans Abroad: What the LaHood Bill Would Actually Mean for You *Published: 2026-05-25 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/residence-based-taxation-americans-abroad* For decades, the United States has been one of the very few countries in the world that taxes its citizens based on citizenship rather than residency. The other is Eritrea. Every other developed nation taxes people based on where they live. That may be about to change. The Residence-Based Taxation for Americans Abroad Act, introduced […] ### FEIE vs Foreign Tax Credit: Which One Actually Saves More for US Expats? *Published: 2026-05-21 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/feie-vs-foreign-tax-credit* Most Americans abroad have heard of the Foreign Earned Income Exclusion. Fewer have run the numbers on whether it is actually the better choice for their situation. The FEIE and the Foreign Tax Credit are the two primary tools the US tax code gives expats to avoid double taxation. They work differently, they apply to […] ### Two Americans in Spain. Same Salary. One Owes US Tax. The Other Doesn’t *Published: 2026-05-18 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/two-americans-in-spain-same-salary-one-owes-us-tax-the-other-doesnt* Two Americans living in Madrid. Same employer type. Same $120,000 salary. Both filing their US taxes every year. One of them owes the IRS several thousand dollars. The other owes nothing. The difference is not fraud. It is not a loophole. It is one decision they each made about how to structure their Spanish taxes […] ### How to Pay Yourself from a US LLC When You Live Abroad *Published: 2026-05-12 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/how-to-pay-yourself-us-llc-living-abroad* If you own a US LLC and live outside the United States, the way you pay yourself is not the same as it is for someone running the same business from Ohio. Get it wrong and you can accidentally disqualify yourself from a tax break worth around $130,000 a year. Get it right and your […] ### How the Wealthy Legally Pay Less Tax: Offshore Strategy, Real Estate, and What the Panama Papers Actually Revealed *Published: 2026-05-07 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/how-wealthy-pay-less-tax* I recently sat down with the team at CPI Capital to talk about something I get asked about constantly: how high-net-worth individuals and real estate investors legally reduce their tax burden across borders. We covered offshore structures, the Panama Papers fallout, and what real planning looks like for someone with international exposure. If you want […] ### Turkey Just Offered a 20-Year Tax Holiday. Here’s What It Actually Means for Americans *Published: 2026-05-05 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/turkey-just-offered-a-20-year-tax-holiday-heres-what-it-actually-means-for-americans* On April 24th, 2026, President Erdogan announced a tax proposal that landed differently than the usual country-by-country incentive news. If you haven’t been a Turkish tax resident for the past three years and you choose to relocate, you would pay no Turkish tax on foreign-source income or capital gains for 20 years, plus a flat […] ### A Realistic Timeline for Catching Up on Missed US Tax Filings *Published: 2026-04-29 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/missed-us-tax-filings* A few years ago, a client came to us who had not filed a US tax return in seven years. He had moved to the Netherlands for work, started a family there, built a life there. The first year he missed the filing deadline, he told himself he would catch up the following year. The […] ### FBAR: What It Is, Who Has to File and Why It’s Not as Scary as It Sounds *Published: 2026-04-20 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/fbar* You just opened a bank account in your new country. Or maybe a friend mentioned FBAR in an expat Facebook group, and now you’re Googling an acronym you’ve never seen before at 11pm. Either way, you’re here, and that’s a good sign. FBAR comes up early for most Americans who move abroad, usually right around […] ### Reddit Told Me I Don’t Owe US Taxes. Let’s Break That Down *Published: 2026-04-07 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-expat-tax-myths* I spend more time than I should reading expat tax threads on Reddit. Not because the advice is always wrong. Sometimes it is genuinely helpful, and the community of Americans abroad is one of the most generous and well-meaning corners of the internet. But sometimes I see a comment with hundreds of upvotes that could […] ### Avoid These 3 Common Mistakes US Expats Make *Published: 2026-04-01 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-expat-tax-mistake* After 15 years of working exclusively with American expats, certain mistakes show up again and again. Not because people are careless, but because US tax rules for Americans abroad are genuinely complex, and the wrong advice travels fast. These three mistakes are among the most costly we see. They are also the most preventable. Mistake […] ### US Tax Deadlines April 15, 2026: Forms, Payments, and What Happens If You’re Not Ready *Published: 2026-03-24 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-tax-deadlines-april-15-2026* April 15 is the date most Americans associate with taxes and for some is the actual filing deadline. For others, it is the payment deadline, even if the return itself is not due until June 15. And for those with foreign-owned US entities, the forms can be extended, but you must follow the due dates […] ### US Expat Taxes for Americans Living in New Zealand – A Guide *Published: 2026-01-06 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-americans-living-new-zealand-guide* Americans often move to New Zealand to enjoy an outdoor life, wide beaches, incredible landscapes, and the friendly pace of life. They don’t expect the US tax system to follow them across the Pacific, however unfortunately it does exactly that. Every US citizen must file a US tax return each year, even if they live […] ### Form 1120-F – Foreign Corporations With US Business Activities Reporting for Expats *Published: 2025-12-24 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/form-1120-f-foreign-corporations-us-business-activities-reporting-expats-2* Running a business from overseas gives you freedom and flexibility, but it also adds layers of tax complexity. If you have a foreign corporation that does business in the US, one of the forms you’ll have to file is Form 1120-F. It is used to tell the IRS whether your company owes US tax on […] ### US Expat Taxes for Americans in Colombia – A Guide *Published: 2025-12-13 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-americans-in-colombia-guide* Americans living in Colombia enjoy vibrant cities, welcoming people, and beautiful beaches. Yet as a US tax citizen, you still have to file a US tax return each year, no matter where in the world you live. Filing as an expat differs from filing in the US, and it’s important to understand the rules for […] ### Year-End Tax Planning for Americans Living Abroad *Published: 2025-12-04 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/year-end-tax-planning-for-americans-living-abroad* Even if you’ve already filed your US tax return this year, the final weeks of the calendar year are a great time to make some good financial decisions. Strategic year-end planning as an expat can help you reduce next year’s tax liability, optimize your investments, and make strategic decisions regarding retirement and foreign accounts. Acting […] ### Form 1120-F – Foreign Corporations With US Business Activities Reporting for Expats *Published: 2025-12-04 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/form-1120-f-foreign-corporations-us-business-activities-reporting-expats* Running a business from overseas gives you freedom and flexibility, but it also adds layers of tax complexity. If you have a foreign corporation that does business in the US, one of the forms you’ll have to file is Form 1120-F. It is used to tell the IRS whether your company owes US tax on […] ### US Expat Taxes Guide for Americans Living in Belize – A Guide *Published: 2025-11-22 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-guide-americans-belize-guide* If you like turquoise waters, a laid back culture and a slower pace of life, then Belize may be the expat destination for you. Further benefits include an English-speaking culture, proximity to the US, thriving expat communities, and easy residency programs. However, every American must still report their worldwide income to the IRS each year, […] ### Federal and State Corporation Taxes Guide for US Businesses – A Guide for Overseas Americans *Published: 2025-11-15 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/expats-guide-federal-and-state-corporation-business-taxes* Running a US business from abroad as an expat is both liberating and challenging, building something across borders. When tax season arrives, though, questions abound. US federal and state corporate taxes can feel like a maze for any business owner, especially if you’re overseas. The good news is that with the right advice and strategy, […] ### All 2026 US Tax Deadlines For Expats And International Entrepreneurs *Published: 2025-11-14 | Categories: Business Tax For International Entrepreneurs, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-tax-deadlines* Missing a deadline can cost more than late fees – it can trigger penalties, interest, and even the loss of tax benefits. Advance preparation is essential if you live abroad or run a business with US ties. Below are the key dates you need to know for filing your 2025 tax year returns in 2026, […] ### US Expat Taxes for Americans Living in the Philippines – A Guide *Published: 2025-11-07 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-americans-living-philippines-guide* Thousands of Americans have chosen to relocate to or retire in the Philippines. The lifestyle is laid back, the beaches are stunning, the digital infrastructure is excellent, and the cost of living is affordable. What’s less relaxing, however, is the annual obligation to still file US taxes. Even while living abroad, every American citizen or […] ### IRS Form 1118: Claiming the Foreign Tax Credit For Corporations – A Guide For Expats *Published: 2025-11-03 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/irs-form-1118-expats-foreign-tax-credit-for-corporations* American expats who run or own corporations overseas often face double taxation. The United States taxes worldwide income, including corporate income, and many foreign countries tax profits earned within their borders. Without planning, your corporation could pay taxes twice on the same income. That’s where claiming the Foreign Tax Credit for corporations on IRS Form […] ### Filing US Expat Taxes for Americans Abroad in 2026 – A Comprehensive Guide *Published: 2025-10-29 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/complete-guide-us-expat-taxes* Americans living abroad must still file taxes in the United States. In addition, US expat taxes are more complex. This is because there are specific rules (and benefits!) when filing an American expatriate tax return. But thanks to these benefits, many expats don’t even owe US taxes. We created this Guide to US Expat Taxes to […] ### US Expat Taxes for Americans in Ecuador – A Guide *Published: 2025-10-25 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-americans-ecuador-guide* Ecuador has become a popular destination for Americans looking to experience life in South America.. From the timeless streets of Cuenca to the golden beaches along the Pacific coast, it’s easy to see why retirees are drawn to its charm and warmth. Meanwhile, younger remote professionals are choosing Quito or Guayaquil as vibrant, budget-friendly bases […] ### 10 Year-End Tax Planning Tips For Expats (2026) – Plus A Bonus Tip For W-2 Employees *Published: 2025-10-24 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/year-end-tax-planning-for-expats* With the new year quickly approaching, now is the time for year-end tax planning, especially for expats! We share our top year-end tax tips here. With the right tax planning, Americans abroad can maximize tax deductions, credits, and exclusions as well as improve their retirement savings. (See more year-end tax tips for entrepreneurs and business […] ### Crypto Tax Loss Harvesting for US Expats in 2026 (2025 filing) *Published: 2025-10-24 | Categories: Crypto Reporting For US Expats* *URL: https://onlinetaxman.com/crypto-tax-loss-harvesting* 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 applied to crypto holdings. This tax optimization […] ### What is a Nonresident Alien and Do They Have to Pay US Taxes? *Published: 2025-10-20 | Categories: US Taxes for Non-Residents* *URL: https://onlinetaxman.com/what-is-nonresident-alien-do-they-pay-us-taxes* The US tax system is complex, and it can seem even trickier if you’re neither a US citizen or Green Card holder and you live outside the country but still have US income. If you’re a nonresident alien, you may wonder whether you owe anything to the Internal Revenue System (IRS) . The answer depends […] ### Form 8938 and FATCA Reporting – A Guide for Expats in 2026 *Published: 2025-10-15 | Categories: FBAR and FATCA - Foreign Asset Reporting* *URL: https://onlinetaxman.com/form-8938-fatca-reporting-guide-expats-2026* Did you know that understanding your responsibilities under the Foreign Account Tax Compliance Act (FATCA) is just as important as filing your US tax return? FATCA requires both foreign financial institutions and Americans living abroad to report their foreign registered financial assets to the US government. Individuals do this on IRS Form 8938. It’s a […] ### US Expat Taxes for Americans in Brazil – A Guide *Published: 2025-10-12 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-for-americans-in-brazil-guide* Moving to Brazil’s a no-brainer for many Americans looking for an adventure abroad, with some of the world’s best beaches, and a thriving culture and economy. Americans soon learn however that they are still liable to file US taxes, wherever they go in the world. Americans living in Brazil may also have to pay Brazilian […] ### How US Expats Save Tax With The Foreign Earned Income Exclusion (FEIE) – 2026 *Published: 2025-10-09 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-earned-income-exclusion* For Americans living abroad, the Foreign Earned Income Exclusion (FEIE) can provide serious tax savings. If you qualify, you can exclude up to $130,000 of foreign earned income in 2025 ($126,500 in 2024) from US federal income tax. It applies to both US citizens and Green Card holders living overseas. However, to claim the FEIE, […] ### 1031 Exchanges – How Expats can Avoid Capital Gains Tax When Selling Foreign Property *Published: 2025-10-04 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/1031-exchanges-expats-avoid-capital-gains-tax-selling-foreign-property* Property investment is a great way to generate passive income for Americans living abroad. But with every property sale comes a potential tax burden, so it’s important to understand the ins and outs of 1031 exchanges, which can provide a way to avoid paying capital gains taxes on your investment properties. In this article, we’ll […] ### Are You Ready for Tax Time? – 5 Tips for US Expats Preparing to File in 2026 *Published: 2025-10-02 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/ready-for-expat-tax-time-2* It’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 2026. If you will owe US tax, you must pay it by April 15, while Americans living abroad have until June 15 to file in 2026. […] ### US Taxes for American Digital Nomads: The Complete 2026 Guide *Published: 2025-10-01 | Categories: US Taxes for Americans Living Abroad, US Taxes For International Digital Nomads* *URL: https://onlinetaxman.com/us-taxes-american-digital-nomads-complete-guide* For American digital nomads, international freedom doesn’t mean escaping IRS filing responsibilities. No matter where you roam, you must still file US taxes every year, reporting your worldwide income. That’s because US tax law is based on citizenship, rather than just residency. Even if you haven’t set foot on US soil all year, you’re still […] ### The Top 10 US Expat Tax Tips for Americans Retiring Abroad in 2026 *Published: 2025-09-30 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/top-us-expat-tax-tips-americans-retiring-abroad* More and more Americans are thinking about retiring overseas. The allure of a better quality of life, affordable healthcare, and a later life adventure is a strong draw. Combined with worldwide digital connectivity, allowing you to stay in contact with friends and family, retiring abroad offers a wealth of exciting opportunities. Americans can’t escape the […] ### US Expat Taxes for Americans in Japan – A Guide *Published: 2025-09-27 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-for-americans-in-japan-guide* Living in Japan as an American can be an adventure filled with new culture, friends, and opportunities, but taxes are one part of expat life you can’t ignore. US citizens and Green Card holders must still file US taxes wherever in the world they live, and Japan has its own tax system that expats need […] ### US Expat Taxes and Reporting Foreign Partnerships on Form 8865 *Published: 2025-09-20 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/expats-tax-reporting-foreign-partnerships-form-8865* ### US Expat Taxes for Americans in the UAE and Dubai – A Guide *Published: 2025-09-14 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-americans-in-the-uae-and-dubai-guide* Dubai is a top destination for ambitious, global-minded Americans looking for low local taxes and life growth. The UAE offers one of the most financially favorable environments on the planet. It has no personal income tax, capital gains tax, estate tax, or wealth tax. However, if you’re a US citizen or Green Card holder, you […] ### Form 8832 for US Expats: A Simple Guide to IRS Business Classification *Published: 2025-09-05 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/form-8832-us-expats-guide-irs-business-classification* If you’re a US expat running or planning to run a business, how much tax you pay may depend on an important but often overlooked form: IRS Form 8832. This form lets you choose how your business is taxed in the US, whether as a disregarded, pass-through entity, or as a corporation. Depending on the type […] ### Foreign Trusts & IRS Form 3520 – A Guide for American Expats *Published: 2025-08-29 | Categories: Business Tax For International Entrepreneurs, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-trusts-form-3520-guide-american-expats* If you’re an American living abroad, you may have a foreign trust reporting obligation, even if you didn’t realize it. Maybe your family set up a trust overseas, or you’re named as a beneficiary in a non-US estate, or you’re just investing internationally or have retirement savings abroad. All of these scenarios can trigger foreign […] ### The Ultimate Guide to US Expat Taxes for Americans Living in Spain *Published: 2025-08-22 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/americans-living-spain-ultimate-guide-us-taxes* Spain is famous for its sunshine, excellent cuisine, and rich culture. It’s no wonder countless US expats have made it their home. Whether you are drawn to the vibrant lifestyle of Madrid or the stunning beaches of Costa del Sol, Spain offers a high quality of life. However, between sunshine and tapas lies one thing […] ### Net CFC Tested Income Tax Guide | (NCTI) GILTI Tax  - A Guide for US Expats *Published: 2025-08-14 | Categories: Business Tax For International Entrepreneurs, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/net-cfc-tested-income-ncti-gilti-tax-expats-guide* The GILTI tax was introduced in the 2017 Tax Cuts and Jobs Act. It affects many Americans with foreign registered companies. It aims to tax intangible foreign profits, even if those earnings never return to the US. It applies when a US person owns at least 10 percent of a foreign company that is controlled by […] ### US Capital Gains Tax for American Expats – A Guide *Published: 2025-08-07 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-capital-gains-tax-american-expats-guide* If you’re an American living abroad, whether you’re building a business, working remotely , or just enjoying the expat lifestyle, life overseas can be deeply rewarding. Wherever you are and whatever you’re doing, you’ll still have to file US taxes though. No matter where you live, as a US citizen, the IRS still requires you […] ### How Trump’s One Big Beautiful Bill Tax Law Affects Americans Living Abroad *Published: 2025-08-02 | Categories: Online Taxman Expat Taxes News, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/how-trump-one-big-beautiful-bill-tax-law-affects-us-expats* President Trump’s Big Beautiful Bill Act became law in July 2025. Behind the bluster is a tax overhaul that changes how many Americans abroad will file in 2026. While the bill slashes domestic programs and repeals green incentives, it also introduces several new measures that affect Americans living overseas. Additionally, it doesn’t fulfil Trump’s campaign […] ### US Expat Taxes – A Guide For Americans living in or moving to Belgium *Published: 2025-07-24 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-guide-americans-belgium* Belgium holds an enduring appeal as a destination for Americans moving overseas, thanks to its culture, charming cities, and easy access to the rest of Europe. If you’re living in or planning to move to Belgium as an American expat, understanding your tax obligations is essential to avoid costly mistakes. In this article, we provide […] ### US Taxes for Americans Living in Thailand – A 10 Step Guide for Expats *Published: 2025-07-14 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-expat-taxes-americans-living-thailand* Whether you’re an American thinking of moving to Thailand, or perhaps you’re already enjoying life in Bangkok or Chiang Mai, don’t forget your US tax obligations. The US taxes based on citizenship, not residency, means that all Americans living abroad must file a US tax return annually, reporting their worldwide income. You may also have […] ### US Expat Taxes for Americans in Switzerland – A Complete 2025 Guide *Published: 2025-07-08 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-taxes-americans-switzerland-guide* Moving to Switzerland as an American is a great opportunity, but it comes with complex tax responsibilities. As a US citizen, you still have to file US taxes, no matter where you live. That means reporting your global income, often disclosing your foreign accounts, and understanding how US rules apply to Swiss pensions, investments, and […] ### Owning Foreign Real Estate and US Expat Taxes: A Guide *Published: 2025-06-22 | Categories: FBAR and FATCA - Foreign Asset Reporting* *URL: https://onlinetaxman.com/owning-foreign-real-estate-us-expat-taxes-guide* Many Americans overseas buy homes to live in, or real estate to rent out or as an investment. US expats must report their global income and some types of foreign assets to the US government though, even while living abroad, and many wonder what are the reporting and tax implications of owning foreign real estate. […] ### The Risks of Using AI for Your US Expat Taxes *Published: 2025-06-14 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/risks-using-ai-for-us-expat-taxes* Artificial intelligence tools like ChatGPT have exploded in popularity because it’s so easy to ask them anything. We see more and more Americans living abroad using these tools for one of the most confusing topics of all: US expat taxes. But as powerful as AI may be, it’s not a licensed tax professional. For US […] ### Online Taxman Wins Award for Excellence in Expat Tax Services *Published: 2025-06-05 | Categories: Online Taxman Expat Taxes News* *URL: https://onlinetaxman.com/online-taxman-recognized-expat-tax-services-award* We’re proud to announce that we’ve been awarded a major international finance accolade: Online Taxman received a Highly Commended award at the recent 2025 FEM Americas EMMA Awards in the category of Best Banking, Tax or Financial Services Provider of the Year. The FEM EMMA Awards spotlight the most forward-thinking companies serving expats worldwide. This […] ### The US Child Tax Credit – Guide For American Expats *Published: 2025-06-02 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/child-tax-credit-expats* The child tax credit can be a significant financial benefit for expat families abroad. Living abroad does not preclude you from claiming the child tax credit for qualifying dependent children under the age of 17. If you don’t owe US taxes, you might still be eligible for a partial refund through the refundable portion called […] ### US Taxes for Americans Living in Greece – A Guide for Expats *Published: 2025-05-22 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-taxes-americans-living-greece-expats-guide* Thinking of moving to Greece or already soaking up the sun in Athens? Don’t forget about your US taxes. The IRS taxes based on citizenship, not residency, which means Americans living in Greece must file a US tax return every year. In this article, we break down what US expats in Greece need to know. […] ### Expat Taxes – A Guide for Americans Living in Italy *Published: 2025-05-17 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/expat-tax-guide-americans-italy* Whether you’re dreaming of retiring in Tuscany or setting up your remote office with views to the Colosseum in Rome, one thing remains true – as an American expat, you will still need to file US taxes. Yep, even if you move abroad! And, if you become an Italian resident, you will likely owe taxes […] ### Filing a US Tax Extension with Form 4868 – A Guide for Expats *Published: 2025-04-26 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/filing-us-tax-extension-form-4868-guide-expats* Americans living abroad automatically receive two extra months to file their US tax return, but sometimes it still isn’t enough. If you need more time to gather documents or complete your local tax return first, expats can file Form 4868 to extend their US filing deadline from June 15 to October 15. In this article, […] ### US Tax Treaties Help Prevent Double Taxation – A Guide for US Expats *Published: 2025-04-15 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-tax-treaties-prevent-double-taxation* Americans abroad face some unique tax challenges. They must still file US taxes no matter where they live, which can lead to the risk of double taxation (being taxed both by the US and the host country). Tax treaties can help prevent double taxation but are often overlooked. And they don’t apply automatically – tax […] ### Expat Tax Guide for Americans Living in Portugal *Published: 2025-03-20 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/expat-tax-guide-americans-in-portugal* Portugal is a top spot for Americans moving abroad. With its sunny weather, stunning coastlines, and laid-back lifestyle, it’s easy to see why so many Americans choose to live in Portugal. From exploring Lisbon’s cobblestone streets to relaxing on an Algarve beach, Portugal offers something for everyone. But just because you’ve moved to Portugal, it […] ### US Expat Taxes for Americans Living in France – A Guide *Published: 2025-03-07 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/us-expat-tax-guide-americans-living-france* France has long been one of the most popular European destinations for Americans seeking to experience life in Europe. Living in France as a US expat offers a blend of historical charm, world-class cuisine, breathtaking countryside, and vibrant cities like Paris, Lyon, and Marseilles. Your obligations to the US taxman don’t stop after you move […] ### How To Find The Best Expat Tax Service For Your Needs *Published: 2025-03-06 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/find-best-expat-tax-service* ### Foreign Investment In The US – Great Opportunities But With US Tax Implications *Published: 2025-03-01 | Categories: US Taxes for Non-Residents* *URL: https://onlinetaxman.com/foreign-investment-in-us-tax* Opinions of the US may vary on many topics, but it is difficult to argue that the […] ### How Accountable Plans Help S Corporations Save Taxes – A Guide for Expats *Published: 2025-02-14 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/accountable-plan-for-s-corporation* Many S Corporation owners pay business expenses with personal funds and advance or reimburse themselves. At tax time, they would owe personal tax on the advance or reimbursement. With an Accountable Plan, the S Corporation can classify expenses so that you won’t have to pay individual income tax on them. Without an Accountable Plan, the […] ### Transition Tax On Retained Earnings – US Tax Guide for Expat Entrepreneurs *Published: 2025-02-12 | Categories: Online Taxman Expat Taxes News* *URL: https://onlinetaxman.com/transition-tax-on-retained-earnings-expat-entrepreneurs* ### The Benefits of LLCs for US Non-Resident Service Providers *Published: 2025-01-17 | Categories: LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/llcs-for-us-non-resident-service-providers* 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 about the benefits of an LLC for non-resident service providers on the Entity Inc. website. ### Foreign Life Insurance and US Tax: A Guide for US Expats Living Abroad *Published: 2025-01-12 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-life-insurance-us-tax-guide-for-expats* ### What Is Double Taxation and How Can US Expats Avoid It in 2026? *Published: 2024-12-23 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/what-is-double-taxation-how-us-expats-avoid-it* Before the election, President-elect Trump announced his intention to reform the US tax system for Americans living abroad, promising to end double taxation for expats. In his statement, Trump emphasized, “I support ending the double taxation of overseas Americans,” a pledge that has sparked significant interest and cautious optimism among the estimated 9 million US […] ### Expats Married Abroad – How A Foreign Spouse Impacts US Taxes *Published: 2024-12-06 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-spouse-impacts-us-taxes* Moving abroad often brings love, adventure, and new tax questions. If you’re a US citizen married […] ### LLC vs S-Corp – Which Is The Best Expat Small Business Structure for Expats *Published: 2024-12-05 | Categories: Business Tax For International Entrepreneurs, LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/llc-vs-s-corp-best-small-business-structure* Most US entrepreneurs and small business owners set up an LLC when they want to “make it legal”. […] ### LLCs And Taxes For Expat Amazon Sellers *Published: 2024-12-04 | Categories: Business Tax For International Entrepreneurs, LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/amazon-seller-tax-llc* When starting an Amazon business, every seller needs to understand the available business structures and Amazon […] ### 5 Tax Tips For Expat Amazon Sellers And E-Commerce Entrepreneurs *Published: 2024-12-03 | Categories: Business Tax For International Entrepreneurs, US Taxes for Non-Residents* *URL: https://onlinetaxman.com/tax-tips-for-amazon-sellers* ### 12 Expat Tax Tips Before Moving Abroad *Published: 2024-11-30 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/expat-tax-tips-before-moving-abroad* Moving abroad can be a hectic process. There are many things for Americans to consider when making […] ### FBAR Deadline Guide for Expats – Don’t Miss These Important Due Dates *Published: 2024-11-29 | Categories: FBAR and FATCA - Foreign Asset Reporting, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/fbar-deadlines-guide-expats* October is a crucial month for US citizens with foreign financial accounts. This is because the final filing deadline to […] ### US Citizenship Renunciation: What Expats Need to Know (And The Step-By-Step Process) *Published: 2024-11-27 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-citizenship-renunciation* In the last decade, the number of US citizens renouncing their citizenship has increased drastically. Complex tax filing requirements and banking […] ### 12 Things Americans In Hong Kong Need To Know About Taxes *Published: 2024-11-26 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/americans-in-hong-kong-taxes* By Vincenzo Villamena, CPA Hong Kong has been a favorite destination for US expats, and for us, too, although the […] ### Tax-Free Roth IRA Conversion For Expats (Thanks To The FEIE) *Published: 2024-11-24 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/tax-free-roth-ira-conversion-expats-feie* A Roth IRA can provide such significant tax benefits, that many Americans even pay tax to convert a pre-tax retirement account to a Roth IRA. As an expat, you might be able to do a tax-free Roth IRA conversion because the IRS essentially allows you to double-dip. Key takeaways What Is a Roth IRA Conversion […] ### Comprehensive US Tax Guide For Americans Living In Panama *Published: 2024-11-23 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/americans-living-in-panama-us-tax-guide* Americans living in Panama can enjoy incredible beaches, a metropolitan city, tranquil mountain towns, and one of the region’s most important airports. Furthermore, Panama’s tax and business-friendly mentality make it easy for US expats to live, invest, and do business. However, US taxes and reporting obligations can be complicated for US expats in Panama. This […] ### The IRS Streamlined Procedure – Ultimate Guide for US Expats *Published: 2024-11-22 | Categories: Back Taxes And Late Filing For Americans Living Abroad* *URL: https://onlinetaxman.com/irs-streamlined-procedure-ultimate-guide-expats* For Americans living abroad, staying compliant with US tax rules can be challenging, especially if you’re unaware of expat filing requirements when you move overseas. Fortunately, an IRS program called the Streamlined Foreign Offshore Procedures, often referred to just as the Streamlined Procedure, can help expats catch up on missed filings without facing penalties. Intended […] ### Self-Employment Tax On Foreign Income – What Expats & Nomads Should Know *Published: 2024-11-22 | Categories: Business Tax For International Entrepreneurs, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/self-employment-tax-foreign-income* Many Americans working abroad assume that the Foreign Earned Income Exclusion (FEIE) makes their income completely tax-free. Unfortunately, […] ### Year-end Tax Tips For Expat Business Owners And Entrepreneurs Abroad *Published: 2024-11-21 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/year-end-tax-tips-for-business-owners-and-entrepreneurs-abroad* Here are our 5 year-end tax tips for entrepreneurs: (You can read about year-end tax planning for individual US taxpayers here.) 1. Maximize your […] ### When To Switch From LLC To S-Corp – A Guide for Expats *Published: 2024-11-21 | Categories: Business Tax For International Entrepreneurs, LLC Taxes For Expat Entrepreneurs, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/when-to-switch-from-llc-to-s-corp* Many US entrepreneurs set up an LLC in the beginning because it is straightforward and not too expensive. […] ### How To File Your US Expat Taxes for Americans Living In Singapore *Published: 2024-11-20 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/how-to-file-us-taxes-living-in-singapore* As a global financial hub, Singapore has drawn many US expats to its borders. Some estimates even show […] ### Do Expats Pay State Taxes? (Hint: It Depends On The State) *Published: 2024-11-20 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/do-expats-pay-state-taxes* You would think that moving away from the United States lets you off the hook from filing US state taxes. But unfortunately, […] ### How to File US Income Taxes for Americans Living in Costa Rica *Published: 2024-11-19 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/how-to-file-us-income-taxes-when-living-in-costa-rica* Nearly 25,000 US citizens have legal residency in Costa Rica. The US State Department estimates that nearly another 100,000 may live there as “perpetual tourists” – coming and going every 90 days but making Costa Rica their home. Living in Costa Rica can greatly improve your lifestyle. But it doesn’t let US expats in Costa […] ### IRA Excess Contributions – A Common Mistake Expats Make When Using The FEIE *Published: 2024-11-15 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/ira-excess-contributions-when-using-feie* Individual Retirement Accounts (IRAs) are an important part of retirement planning due to their great US tax advantages. Americans abroad however need to be aware of how expat tax benefits can affect retirement accounts such as Roth and Traditional IRAs. Expats who use the Foreign Earned Income Exclusion (FEIE) often inadvertently make an IRA excess […] ### Claiming the Foreign Earned Income Exclusion in the Year of Entry & Departure *Published: 2024-11-14 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-earned-income-exclusion-year-of-entry-departure* The Foreign Earned Income Exclusion (FEIE) is a tax benefit available to American citizens, Greencard holders, and in some cases foreign individuals that become residents. It allows an exclusion of up to $130,000 (2025) of income earned in a foreign country from US taxation. The good news is that you can even benefit from the […] ### 10 Steps to Report Crypto Taxes for Expats – And Why a 1099 Form is Not Enough  *Published: 2024-11-13 | Categories: Crypto Reporting For US Expats, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/10-steps-to-report-crypto-taxes* This article covers the tax challenges of crypto reporting and why Form 1099-B is not a solution to accurately report cryptocurrencies to the taxing authorities. While the requirement to track and report traditional investments such as stocks, bonds, interests, dividends, and other personal investments is on the broker’s shoulders, this does not work the same […] ### Social Security Totalization Agreements for US Expats Living Abroad *Published: 2024-11-13 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/social-security-totalization-agreements-expat-guide* Americans living abroad still need to file US tax returns. They may also still need to pay social security taxes. Social Security totalization agreements between two countries govern where you must pay social security tax. Without a totalization agreement, US expats may end up having to make social security contributions in two countries. Fortunately, the […] ### Which Business Expenses Can Reduce Taxable Income for American expats *Published: 2024-11-12 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/business-expenses-reduce-taxable-income* One of the most frequent questions business owners ask is which business expenses they can deduct to reduce their taxable income. If you are a US taxpayer with a business, either in the US or abroad, you can deduct a variety of expenses, but you need to identify and track them properly. To learn more […] ### IRS Form 5471 – A Guide For US Expat Owners Of Foreign Companies *Published: 2024-11-12 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/irs-form-5471-expats* Attention US owners of foreign companies! If you haven’t already heard about it, brace yourself for IRS Form 5471 – one of the most complex and constantly changing tax forms that US-owned foreign companies may have to file. Don’t be fooled by thinking that filing requirements only apply to those with a large ownership percentage […] ### US Foreign Tax Credit Explained for Expats – Complete Guide *Published: 2024-11-09 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-tax-credit-expats* Contrary to popular belief, American expats do not have to be stuck with a high US tax burden, when also paying high taxes in their residence country. The truth is, with the Foreign Tax Credit expats can often reduce or even eliminate their US tax. This guide explains what the Foreign Tax Credit is and […] ### Learn About The Foreign Mutual Funds And PFICs | Our Guide For US Expats *Published: 2024-11-08 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-mutual-funds-pfics* Many Americans living abroad open investment accounts with local banks or brokers, not realizing these accounts often contain “PFICs” — Passive Foreign Investment Companies. The problem? PFICs are taxed harshly by the IRS and can easily turn profitable investments into unexpected tax liabilities. The US tax code discourages owning non-US investment funds by imposing complex […] ### Entrepreneur Abroad? The Business Tax Guide for Expats *Published: 2024-11-08 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/business-tax-guide-for-expats* Not all American expats are employed by big companies. Actually, many run their own business while living outside the USA. If you own a business overseas or run your US business from abroad, this Guide to Business Taxes for Expats is for you. It explains tax implications and tax savings opportunities for American business […] ### US Tax Guide For Americans Living In Australia *Published: 2024-11-08 | Categories: Country Expat Tax Guides, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-tax-guide-for-americans-living-in-australia* 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 year differs from the US, which makes it […] ### Bona Fide Residence Test – Guide For Expats *Published: 2024-11-07 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/bona-fide-residence-test* 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). The FEIE allows expats to exclude a significant amount of earned income from US taxation. To […] ### Do Your Foreign Bank Accounts Trigger FBAR Filing Requirements? *Published: 2024-11-07 | Categories: FBAR and FATCA - Foreign Asset Reporting* *URL: https://onlinetaxman.com/foreign-bank-accounts-fbar-filing-requirements* When you live or conduct business abroad, you often need a foreign bank account to make and receive payments locally. […] ### The Physical Presence Test: A Guide for US Expats and Non-US Owners *Published: 2024-11-07 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/physical-presence-test-guide* The physical presence test is one of two methods US expats can use to qualify for the Foreign Earned Income Exclusion (FEIE), which allows them to exclude a significant portion of their foreign-earned income from US taxation. It is also relevant for non-US individuals trying to understand whether their presence in the United States creates […] ### US Tax Guide for Americans living in Mexico *Published: 2024-10-26 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-tax-guide-americans-living-in-mexico* 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 beaches to vibrant city life of Mexico City. And the food! […] ### Dispelling 7 Common Myths Of US Citizenship Renunciation *Published: 2024-10-13 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/common-myths-us-citizenship-renunciation* ### How To File US Taxes As American Expat Living In China *Published: 2024-09-12 | Categories: Country Expat Tax Guides* *URL: https://onlinetaxman.com/how-to-file-us-taxes-from-china* Living in China as expat has its own set of challenges, as one of our team members experienced firsthand for […] ### Should International Business Travelers Use Per Diem Travel Expenses? *Published: 2024-08-11 | Categories: Business Tax For International Entrepreneurs* *URL: https://onlinetaxman.com/international-business-travelers-use-per-diem-travel-expenses* Tracking travel expenses in order to get reimbursed or to deduct them from your taxes can be a […] ### How a Foreign-Owned LLC Is Taxed in the US *Published: 2024-04-03 | Categories: LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/foreign-owned-llc-taxation* If you are a non-US resident thinking about opening a US LLC, one of your first questions is probably: will I owe US taxes? The short answer is that it depends, and the answer matters a great deal for how you structure your business from day one. This guide explains how the IRS treats foreign-owned […] ### New FinCEN BOI Reporting For Small Businesses And Trusts – Beneficial Ownership Information *Published: 2024-02-13 | Categories: Business Tax For International Entrepreneurs, LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/fincen-boi-reporting-requirement* 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 to the US government. It applies to most small US businesses, both US and foreign-owned entities. So […] ### Filing US Taxes With Your Foreign Spouse – The 6013(G) Election *Published: 2023-07-31 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/us-taxes-with-foreign-spouse-6013g-election* 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 married to a non-resident alien (in other words, not a US citizen or resident), you might wonder how this affects your […] ### 13 Preguntas Frecuentes De Individuos No Residentes de EE.UU. Sobre Las Entidades De Negocios En EE.UU. *Published: 2023-07-18 | Categories: LLC (en Español)* *URL: https://onlinetaxman.com/preguntas-frecuentes-sobre-entidades-de-negocios-ee-uu* Este artículo ha sido movido al sitio web de nuestra nueva marca Entity Inc, especializada en la constitución de empresas en Estados Unidos, impuestos y cumplimiento normativo para emprendedores en todo el mundo. Puedes leerlo aquí. ### Requisitos De Impuestos De EE.UU. Para LLC Con Dueños Extranjeros *Published: 2023-06-13 | Categories: LLC (en Español)* *URL: https://onlinetaxman.com/es-requisitos-de-impuestos-de-ee-uu-para-llc-con-duenos-extranjeros* Este artículo ha sido movido al sitio web de nuestra nueva marca Entity Inc, especializada en la constitución de empresas en Estados Unidos, impuestos y cumplimiento normativo para emprendedores en todo el mundo. Puedes leerlo aquí. ### LLCs Para No Residentes En EE. UU. Proveedores De Servicios *Published: 2023-05-18 | Categories: LLC (en Español)* *URL: https://onlinetaxman.com/es-llcs-para-proveedores-de-servicios-no-residentes-en-ee-uu* Este artículo ha sido movido al sitio web de nuestra nueva marca Entity Inc, especializada en la constitución de empresas en Estados Unidos, impuestos y cumplimiento normativo para emprendedores en todo el mundo. Puedes leerlo aquí. ### ¿Quién Debe Presentar El Formulario 5472? *Published: 2023-05-18 | Categories: LLC (en Español)* *URL: https://onlinetaxman.com/es-quien-debe-presentar-formulario-5472* Este artículo ha sido movido al sitio web de nuestra nueva marca Entity Inc, especializada en la constitución de empresas en Estados Unidos, impuestos y cumplimiento normativo para emprendedores en todo el mundo. Puedes leerlo aquí. ### IRS Form 5472 Explained: What It Is, Who Files It, and Why It Matters *Published: 2022-05-17 | Categories: LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/irs-form-5472-explained* If you own a US company as a non-US person, Form 5472 is one of the most important IRS forms you will encounter. It is not a tax payment form, but failing to file it can result in a $25,000 penalty per year. This guide explains what Form 5472 is, what it requires, and what […] ### 9 Key Tax Questions Of US Citizens Moving Abroad *Published: 2021-04-13 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/taxes-for-expats-us-citizens-abroad* Moving abroad is an exciting decision for many Americans. However, US taxes for expats can be a headache. […] ### Coronavirus Impact On The 2020 FEIE, Substantial Presence Test, And Profits In The United States *Published: 2021-01-19 | Categories: Online Taxman Expat Taxes News, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/coronavirus-impact-2020-feie-substantial-presence-test-us-profits* ### 13 Common Questions From Non-US Residents About US Business Entities *Published: 2020-08-17 | Categories: LLC Taxes For Expat Entrepreneurs, US Taxes for Non-Residents* *URL: https://onlinetaxman.com/questions-from-non-us-owners-about-us-entities* This article has been moved to the website of our new brand Entity Inc, that specializes in US […] ### How to Open a US LLC as a Non-Resident *Published: 2020-05-11 | Categories: LLC Taxes For Expat Entrepreneurs, US Taxes for Non-Residents* *URL: https://onlinetaxman.com/open-us-llc* Non-US residents can form a US Limited Liability Company without a visa, a US address, or a Social Security Number. The process is more accessible than many people expect, but getting the structure, state selection, and compliance setup right from the beginning makes a significant difference in how the business runs long-term. This guide walks […] ### The Best 2019 IRS Cryptocurrency Guidance And Its Impact For US Expats *Published: 2020-05-11 | Categories: Crypto Reporting For US Expats* *URL: https://onlinetaxman.com/2019-irs-cryptocurrency-guidance* ### Foreign Housing Exclusion Or Deduction – 10 Expat Tax Questions Answered *Published: 2020-04-27 | Categories: US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/foreign-housing-exclusion-or-deduction* Living abroad often means higher rent, insurance, and utility costs than in the United States. To help offset those expenses, […] ### Who Must File Form 5472? A Guide for Expats *Published: 2020-03-04 | Categories: Business Tax For International Entrepreneurs, LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/who-must-file-form-5472* Form 5472 is one of the more commonly misunderstood IRS requirements for international business owners. It applies to more situations than most people expect, and the penalties for not filing are steep. This guide breaks down exactly who is required to file, when, and what the consequences are for getting it wrong. The Three Categories […] ### US LLC Taxes – A Potential Tax Haven For Foreigners, And Still A Good Option For US Taxpayers *Published: 2020-01-15 | Categories: Business Tax For International Entrepreneurs, LLC Taxes For Expat Entrepreneurs* *URL: https://onlinetaxman.com/us-llc-taxes-for-expats-and-non-residents* ### What You Need To Know About The 20% Pass – Through Deduction *Published: 2019-03-12 | Categories: Business Tax For International Entrepreneurs, US Taxes for Americans Living Abroad* *URL: https://onlinetaxman.com/pass-through-deduction* The 2017 Tax Cuts and Jobs Act created a new 20% deduction for pass-through income. At first […] ### US Tax Reporting Requirement For Foreign-Owned LLCs *Published: 2018-03-18 | Categories: LLC Taxes For Expat Entrepreneurs, US Taxes for Non-Residents* *URL: https://onlinetaxman.com/foreign-owned-llc-us-tax-reporting* Owning a US LLC as a non-resident comes with specific annual reporting obligations to the IRS, and these obligations exist whether or not your LLC has any income or owes any US tax. This is something that surprises a lot of international entrepreneurs. This guide covers the main US tax reporting requirements for foreign-owned LLCs: […] ### How to Open a US Bank Account as a Non-Resident *Published: 2017-07-27 | Categories: US Taxes for Non-Residents* *URL: https://onlinetaxman.com/us-bank-account-for-non-residents* --- *This content export is updated periodically. For real-time accuracy, verify details at https://onlinetaxman.com or consult with a qualified US international tax professional.* *Content is for general informational purposes only and does not constitute tax advice.*