Top 7 Myths about U.S. expat taxes

Top 7 Myths about U.S. expat taxes
It’s easy to misunderstand the tax laws and struggle to sort out truth about U.S. international taxation because of its’ complexity. All those terms, conditions and special rules make it difficult to recognize what you need to do to be fully tax compliant as a U.S. expat. Today we want to puncture 7 common myths ...

FATCA for U.S. expats

FATCA for U.S. expats
Since the introduction of FATCA in 2010, it’s been a game-changing law for all U.S. persons abroad. Find out what FATCA is about, why you need to file it and what happens if you fail to do so in our weekly infographics. For 5 years our tax experts have helped U.S. expats with FATCA reporting and ...

10 Facts about FBAR

10 Facts about FBAR
Many U.S. expat forget or get confused about FBAR requirement. But it’s important to understand that failure to file the FBAR will lead to penalties and attention of the IRS. We have gathered 10 important facts, which you need to know about FBAR reporting. Our expat tax specialists have helped hundreds of expats to file ...

Why is it important to file your tax returns?

Why is it important to file your tax returns?
Taxes can be intimidating not only for newbies, but also for pros. It is crucial to understand why you need to file your tax returns and stay compliant. If you don’t know where to start, then take a look at this infographic, which team of 1040Abroad prepared for you. We explain why it is essential to ...

What does US expat need to know about Child tax credit?

The IRS offers some relief and deductions for taxpayers. One of them is Child tax credits, which can save you as much as $1,000 per child, if you meet all requirements. We have gathered all necessary information, which you need to know about Child tax credit in this infographic. You can contact me at owagner@1040abroad.com if ...

Self-employment tax for U.S. citizens abroad

Americans who work for themselves must pay their own version of Social Security called ” the Self-Employment Tax”. This tax applies no matter where in the world the work was performed. We have put together few facts in infographic below to show what this tax is about and which circumstances allow you to avoid paying ...

How to legally save money on income tax

As we know, the rules for filing income, estate, and gift tax returns and paying estimated tax for US citizens or resident aliens are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside. But there are legal paths ...

What has IRS prepared for us this tax season?

What has IRS prepared for us this tax season?
As the new tax season has started, the IRS published new provisions for 2017, tax rates, tax rate schedules and tax tables with adjustments to the annual inflation. So, what’s new? Tax brackets. The tax rates will remain the same, but the thresholds for each rate will increase. Here are the new tax brackets. Rate ...

Nomad Capitalist interview

Interested in reading about my experience, advices and tips for digital nomad lifestyle? Check out my interview for Nomad Capitalist.

Tax Season Tips for U.S. Immigrants

Immigrants coming to the US would be considered resident alien if spending too much time in the US. With that classification comes 1) the fact that they are taxed on their worldwide income 2) various reporting requirements for foreign bank accounts, foreign corporations, foreign trusts (including banking products which were typical/widespread in their home country). ...