Category: General
FATCA Filing – A Guide for Reporting Foreign Assets for Expats
Aug 16, 2024
If your foreign financial assets total exceeds the reporting threshold based on your filing status and whether you live in or outside of the U.S., FATCA reporting requirements will apply. This means that…
The Most Common Expat Tax Deductions
Aug 06, 2024
Paying more taxes than you should is no one’s favorite. Whether you’re a typical taxpayer or an expat, learn how tax deductions can benefit you in this article.
How to File Form 5471 for U.S. Expats with Foreign Corporations
Jul 15, 2024
If you are a U.S. citizen or resident involved with a foreign corporation, you may need to file IRS Form 5471, even if the corporation has no U.S. source income or establishment. This…
Foreign Earned Income Exclusion – All Your Questions Answered by Expat Tax Experts
Jul 15, 2024
Living and working abroad as a U.S. citizen or resident alien means your worldwide income is subject to U.S. taxation. This can lead to double taxation, as your foreign country may also tax…
How to Report Profit or Loss from Business with Schedule C Form
Jun 24, 2024
Running a business involves managing a packed schedule. Tax season adds to the workload with extra paperwork. If you’re among the ten percent of self-employed U.S. taxpayers, you might need to prepare a…
How to Fill Out the New IRS Form W-4
Jun 11, 2024
If you’ve ever started a new job, you’ve probably filled out an IRS Form W-4 or the Employee’s Withholding Certificate. It’s a document that tells your employer how much federal income tax to…
How to Deal with IRS CP59 Notice For High-Income Non-Filers
May 27, 2024
If you’re a U.S. person earning over $400,000 and haven’t filed for years, you might soon receive an IRS CP59 notice. This notice calls for immediate action. You must either submit your tax…
How the IRS CP01A Notice Protects You from Identity Theft
May 17, 2024
Taxpayers often feel scared when they receive a notice from the IRS. It’s normal to panic. But not all letters are a cause for fear. Let’s take the IRS CP01A notice as an…
How to Report Cash Payments Over $10000 with IRS Form 8300
May 17, 2024
Despite the rise of electronic payments, cash transactions persist in business. While they offer convenience, they present challenges during tax preparation. The IRS is cautious because verifying them is more challenging, and there…
How To File a Tax Extension with Form 4868
May 02, 2024
If you’re having trouble meeting the tax filing deadline, you can fill out Form 4868 to ask for an extension. This form lets you push back your federal income tax return deadline until…