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 ...

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 ...

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 ...

(Infographics) Why is it important to file your tax returns?

(Infographics) 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?

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 ...

1040Abroad offers now Social Support Compliance Program

1040Abroad offers now Social Support Compliance Program
Contact me to take advantage of this offer by clicking on the logo below: Tax preparation fees are constantly increasing and the complexity of the International US tax law stops many from filing their tax returns. With the introduction of FATCA, Americans now are hunted down by their banks and are reported to the IRS. ...

Self-employment tax for U.S. citizens abroad

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

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 ...