U.S. Expats: Top Reasons Why You Don’t Talk Tax with Strangers
Scrolling through social media, it’s easy to come across posts offering incorrect expat tax advice. Given how often we receive misguided driving directions from strangers, relying on social media tax guidance can be just as risky—especially when one-size-fits-all advice can never fully address individual circumstances. Expatriate tax law and filing requirements is full of nuances...
I Haven’t Filed A U.S. Tax Return In Years. What’s The Risk?
Many Americans living abroad have proclaimed, “I’m so glad I don’t have to file U.S. taxes anymore.” Sadly, many of them get high fives! The taxation of Americans abroad is complex, requiring guidance from someone other than your dad. Many Americans do have U.S. reporting obligations and some penalty exposure. Learn more because the only...
Last chance for US expats to claim up to $3,200 in COVID stimulus checks
As a US expat, you’re exploring the advantages of life overseas. But there’s one opportunity you don’t want to miss – claiming your U.S. government COVID stimulus checks, otherwise known as Economic Impact Payments, which can amount to up to 3.200 US dollars. The final deadline of June 15, 2024, is fast approaching! This is not...
Top Reasons Why Americans Abroad Want To Renounce Their U.S. Citizenship
While the annual tax season can be stressful for filers, the burden is even greater for Americans overseas. About 9 million U.S. citizens live abroad, the U.S. Department of State estimates. Nearly a quarter of U.S. expats are “seriously considering” or “planning” to renounce U.S. citizenship according to 1040 Abroad. For those looking to renounce citizenship,...
Busy Landlord? Here’s How To Complete Your Self Assessment Tax Return Quicker
Life can be busy when you’re a landlord. Leaving aside managing your property and tenants, many landlords must also cope with the demands of a job or running a business. Then there’s your own domestic and family responsibilities. The last thing you need hanging over you is a tax return to complete, but we’re steadily...
Navigating Freelance Income Reporting As A US Expat
The digital age has transformed the landscape of work, ushering in the era of the global freelancer. As professionals venture beyond borders, capitalizing on the ability to work from anywhere, many find themselves navigating the expat lifestyle. This global shift brings its own set of challenges, particularly in the realm of freelance income reporting. The...
Navigating the Complexities of US Expat Taxes: A Webinar Hosted by Expat Network and Greenback Expat Tax Services
Living abroad is an exciting adventure filled with new experiences, cultures, and opportunities. However, for US citizens, the complexities of expatriate taxation can often dampen the joy of this global journey. That’s why Expat Network, in collaboration with Greenback Expat Tax Services, is hosting a webinar titled “Navigating the Complexities of US Expat Taxes.” This...
Survey Reveals a Complex and Evolving Landscape for American Expatriates
The latest survey results from Greenback Expat Tax Services reveal a complex and evolving landscape for American expatriates, as they face an array of regulatory and financial challenges. Notably, 1 in 5 US expats are contemplating or planning to renounce their US citizenship, and an alarming 42% are not dismissing this drastic measure. This data,...
US Expats In Line For Potential Tax Windfall
The US Government’s Covid Stimulus initiative offers a tax silver lining to US Expats and Green Card Holders. Those with children could receive a double tax windfall in the form of Child Tax Credit. Tax returns need to be filed by June 15th to take advantage of financial benefits. UK-based US citizens and green card...
How U.K. Expats Deal With Back Taxes In The US?
U.K. expats living in the U.S. must deal with the same tax obligations as any American citizen, regardless of whether they reside in the country permanently or temporarily. The IRS taxes U.S.-source income for all taxpayers who have established a “tax residence” in the United States and requires that expats file a tax return...
A Comprehensive Guide To Taxation For US Digital Nomads
As a digital nomad, where you pay taxes depends on your country of residence. According to United States laws, if you are an American citizen, you are still responsible for paying your self-employment tax on your income, no matter where you live. The US is one of the few countries in the world that...
7 Things You Should Know About Small Business Taxes in America
Making key financial decisions for your business is hard enough as it is, but money matters become increasingly complex when you start throwing in tax terminology and filing practices. But if you’re setting up an online business, it’s a good idea to speak to a professional accountant before submitting your small business taxes in...