Blogs

We spoke with Emmanuel, who has over 9 years of U.S. expat tax experience, to provide clarity on the Foreign Housing Exclusion and the different ways you can qualify. For expats moving to high-cost cities such as Dubai, the significant housing expenses must be taken into consideration. In addition to the Foreign Earned Income Exclusion, […]

What is exit tax and who pays it? Exit tax is a final tax payment for people who are renouncing their US citizenship, and essentially looks at all untaxed assets and creates a final lump sum, that is then paid to the IRS.  Exit tax applies to expatriates of the United states, which usually means […]

What is a TFSA? A TFSA, or tax free savings account is different to other savings accounts that exist because it can be an investing account as well as a savings account, and allows  for the money made on it to be tax free. However, for American expats living in Canada, this is actually not […]

Filing a foreign trust form 3520 and 3520-A for a Tax Free Savings Account US citizens living abroad can legally create tax free savings accounts, also known as a TFSA in Canada. A big question for many American expats living in Canada is whether they need to file for the IRS forms 3520 and 3520-A as […]

We approached Seth, who has 29 years of experience in handling expat taxes for people who are heading either way between Australia and America, to answer a few questions about tax commitments for Americans living in Australia.

AM I ELIGIBLE FOR FOREIGN EARNED INCOME EXCLUSION? Learn from Tanveer Mannan, a highly experienced IRS Enrolled Agent based in Dubai. Having worked at EY and PWC before joining Expat Tax Online, Tanveer has 15 years’ experience of helping Americans get the correct advice when they come to work in UAE. Getting the correct tax […]

Superannuation accounts can be complicated, especially for Americans in Australia who have no idea how it works. You’d want to read this one! I know that there are a lot of questions going through your mind, and you’ll see that as you progress, you will find your answers. Let’s start with the basics. How Australian […]

The short answer is… not if you only have an RESP. The new IRS Revenue Procedure 2020-17 issued in 2020 basically stops all Foreign Trust reporting of RESPs… GREAT NEWS! If you have a TFSA, then the answer is maybe. There are 3 types of TFSA. The only TFSA that may need to be reported […]

Darryl, an Enrolled Agent, has many years of expat tax experience, including how the Streamlined Tax Amnesty program works. He has taken time out of his busy day to explain how American citizens living abroad that have somehow fallen behind with their tax commitments, can correct the problem, ensuring that they don’t encounter any problems, […]

The US Government has passed the 2 trillion dollar stimulus package.US Residents with social security numbers, 𝗥𝗘𝗦𝗜𝗗𝗜𝗡𝗚 𝗔𝗡𝗬𝗪𝗛𝗘𝗥𝗘 𝗜𝗡 𝗧𝗛𝗘 𝗪𝗢𝗥𝗟𝗗, are eligible depending on their income. 🌎 “Resident” does not mean living in the U.S. when it comes to U.S. taxation.  

U.S. citizens find themselves living and working abroad for various reasons. Sometimes they do so because of an excellent job opportunity or because they are following someone they love. Whatever your reasons, if this is you and you’ve decided to renounce your U.S. citizenship, then you will want to know how to handle the tax […]

Is your foreign company (non-US) ready for tax season? GILTI Tax and Transition Tax has and will continue to blindside countless American business owners operating internationally. Not to be confused, Transition Tax and GILTI Tax are two separate components of the new international tax system.  In December 2017, Congress passed The Tax Cuts and Jobs […]