Category Archives: Taxation

FBAR Due Date
08/17/2015 - 8:08 PM
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The FBAR due date has been changed from June 30 to April 15. If you file an extension for your personal return, you will have until Oct. 15 to submit your FBAR. Finally the US government has done something which makes sense. This change to the FBAR due date will help new expats big time. Here’s why:

Impact of FATCA
11/12/2014 - 12:11 PM
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Foreign Account Tax Compliance Act is finally here and you can be sure that the impact of FATCA will be severe. This brief article considers the impact of FATCA on Americans living, working, or investing overseas. FATCA is founded in a U.S. tax code that attacks small business and lavishes tax holidays on the wealthy

Foreign Pension
10/08/2014 - 10:04 AM
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If you’re working abroad for a foreign company, watch out for the foreign pension tax trap.  If you get caught, you might be paying double tax on your retirement income… once when earned by the U.S. and once at distribution in your country of residence. First, let me say that this is not meant as

Retire Overseas Tax Free
09/10/2014 - 10:00 AM
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First, let me tell you about my inspiration for this post. France has been in the news and on this site quite a bit recently. They are pushing hard against America’s recent extortion of $9 billion from one of their banks, and I think this could have a major impact on the dominance of the

ObamaCare Tax
08/22/2014 - 1:04 PM
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The new ObamaCare tax, called the Net Investment Income Tax, or NIIT, hits U.S. residents and expats alike with a 38% levy on most forms of investment income.  If your taxable income in 2014 was $200,000 (single) or $250,000 (joint), the ObamaCare tax is coming your way. These rates are fixed and will not increase

Dollar Will Fail
08/15/2014 - 11:00 AM
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What the heck is an offshore tax inversion and why should I care?  The inversion has been all over the news and was even called “un-American” by our President today (July 25, 2014).  Here is everything the small to medium sized business owner needs to know about the tax inversion. Where a large corporation is

IRS Collection Statute
08/11/2014 - 12:10 PM
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A few days ago I wrote an article on dealing with the IRS as an expat.  Apparently, a number of you are carrying tax debt and are concerned with the IRS collection statute – how long the IRS has to collect that tax debt.  This article is specifically for those living abroad that owe the

IRS Audit Statute
08/08/2014 - 10:34 AM
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For most Americans, the IRS audit statute, the amount of time the IRS has to come after you once you have filed your return, is three years.  Not so for those with foreign accounts and foreign assets.  In most cases, the IRS has six years to audit your international investments. First, let’s review the IRS

Offshore business tax reporting
07/25/2014 - 9:30 AM
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If you’re operating a business outside of the United States, your offshore business tax reporting obligations can be daunting.  Failure to comply can result in significant interest and penalties, the loss of your business, and even the loss of your freedom.  Here is a brief description of the most common offshore business tax reporting obligations.

State Tax for Expats
07/14/2014 - 2:50 PM
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If you are planning to live, work, or invest offshore, you need to plan for your state taxes.  This State Tax For Expats guide will help you eliminate your state’s taxes and keep you out of trouble with local tax authorities. If you move offshore, and plan to return to your home state, then your

IRS Levy
07/09/2014 - 2:46 PM
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If you are a U.S. citizen living abroad, you have the same rights and responsibilities when it comes to your expat tax debt as those stuck in America.  The IRS has ever increasing powers to collect on that expat tax debt, so it is in your best interest to get into compliance and make arrangements

Retire Abroad
07/07/2014 - 2:03 PM
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If you have unreported offshore bank accounts or foreign assets, the IRS has one last best offer called the 2014 IRS Offshore Settlement Program.  Come forward and, if you are living offshore, pay no penalties.  If you are living in the U.S., pay only 5% for a fresh start. This, the third installment of the

Real Estate in an Offshore IRA
06/12/2014 - 1:16 PM
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So, you’ve diversified your retirement account and invested in real estate in an offshore IRA. . .great.  Now you need to take a distribution, what should you do?  In this article, I will describe how to distribute real estate in an offshore IRA.  Rental real estate in an offshore IRA is one of the highest returning

Cheap offshore Company
04/25/2014 - 3:01 PM
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When you first move offshore, you will need to know how to prorate the foreign earned income exclusion. This is because, you will be using the physical presence test in your first year and, presumably, won’t move abroad on January 1, so you will need to prorate the foreign earned income exclusion. Let me take

Seize Your IRA
04/18/2014 - 4:57 AM
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Good news for those American’s living and working abroad. The Foreign Earned Income Exclusion in 2014 has been increased to $99,200. This means that you can exclude up to $99,200 in salary for 2014 on Federal income tax return if you are a resident of another country or are abroad for 330 out of 365

Retire Abroad
03/28/2014 - 4:19 AM
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As you, the American with investments abroad, get ready to prepare your 2014 tax return, there are important new FBAR filing requirements for 2014. Some of these FBAR filing requirements are cosmetic and others could get the misinformed in hot water. Note: If you have no idea what an FBAR is, you might check out