What’s Happening in the World of Expat Taxes?

Foreign Tax Credit Vs. Foreign Earned Income Exclusion

July 1, 2020
The terms foreign tax credit and foreign earned income exclusion may appear interchangeable, but there are key differences. Below, we’ll cover what the foreign tax credit and foreign earned income exclusion mean, how you claim them, and tax resources for expats.
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Tax Filing For Dual Citizenship

June 28, 2020
Regardless of where they live in the world, U.S. citizens need to pay U.S. taxes. That's true of expats, permanent residents, green card holders and dual citizens who have citizenship in the U.S. and another country.
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Social Security For American Expats

June 3, 2020
Taxes are complex for expats, who may find it difficult to keep up to date with changes to tax law. Determining how your Social Security taxes and benefits are impacted takes research and expertise that many expats prefer to leave to a CPA. Below, we’ll explore the relationship between taxes and Social Security benefits for expats, then discuss how a CPA can help. 
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How To Calculate Maximum Account Value For FBAR

June 2, 2020
Expats must report foreign income and assets, including foreign bank accounts, when filing taxes in the U.S., provided the balance of accounts exceeds $10,000. Since the IRS penalizes expats who have not filed FBAR, read on for more details about who needs to file, FBAR maximum account value and how to file.
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IRS Reporting Relief For Foreign Trusts

May 14, 2020
For years, the IRS has required that expats report foreign retirement trusts, despite offering little guidance on mandated reporting. This year, the rules have changed. Here's what expats need to know about tax-favored foreign retirement trusts, reporting requirements and exemptions.
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