Foreign Earned Income Exclusion vs. Foreign Tax Credit

Foreign Earned Income Exclusion vs. Foreign Tax Credit
We are often asked if it’s better to use Foreign Earned Income Exclusion or Foreign Tax Credit when it comes to US expat taxes. Yet you always need to remember that each case is different and while you personally may benefit from using FEIE, then your fellow expat may have better outcome utilizing FTC. Today ...

Sorting out PFIC problem

Sorting out PFIC problem
We are excited to share another success story of our client, who was facing a problem with PFIC. Check out Robin’s story and learn what applies to your case. Robin, a dual-citizen between the US and Canada was contemplating selling some Canadian mutual funds. Robin had been advised that mutual funds are PFIC as well ...

Taking advantage of the Foreign Earned Income Exclusion

Taking advantage of the Foreign Earned Income Exclusion
Today we want to tell you another success story and share how 1040 Abroad solved the tax problems, which our clients were facing. In today’s edition, we present you Mark’s story. Mark, a U.S. citizen, recently moved to Ecuador and got a professional 9-V visa/immigration status there. He was still going occasionally making trips to the United States, ...

Tax table for 2017 Federal Income

Tax table for 2017 Federal Income
One of the biggest myths about the Foreign Earned Income Exclusion is that income taxed above and beyond the FEIE is taxed at tax rates starting at 10%. Well, it’s not correct. For instance, did you know that the United States has a progressive federal tax system, which means that depending on your tax owed, you ...

How a nomad became compliant with US taxes

How a nomad became compliant with US taxes
We are starting series called “Success story” and we share how 1040 Abroad solved the tax problems, which our clients were facing. Today we want to tell you Brian’s story. Brian is a U.S. citizen who has been teaching English in China, South Korea and other places. He never filed a U.S. tax return and is ...

Tax penalties for US expats: failure-to-pay and failure-to-file

Tax penalties for US expats: failure-to-pay and failure-to-file
Do you know the penalties for US expats for being non-compliant? You may have been confused with complicated U.S. tax laws and we have gathered few facts you need to know about failure-to-pay and failure-to-file penalties. Check them out now and do not hesitate to contact us for your customized tax solution.

What US expats need to know about Streamlined Procedures

What US expats need to know about Streamlined Procedures
Many U.S. expats do not know that they have to file their tax returns while living abroad. The IRS introduced few amnesty programs and one of them is called “Streamlined Procedures”. In today’s infographics we cover all necessary facts that you need to know about becoming tax compliant using this program. Educated yourself in easy ...

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 introduction of FATCA in 2010, it’s been 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 we ...

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 ...