Moving Abroad? Time for a New US Tax Advisor
New expats and digital nomads often work with the same US tax advisor they’ve used for years. This article describes the trouble this can cause and how you can avoid it.
Stay informed on the latest tax topics for Americans who live or invest abroad.
The foreign earned income exclusion (FEIE) allows you to pay zero US income tax on up to about $100k per year of income from working while you live outside the US.
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New expats and digital nomads often work with the same US tax advisor they’ve used for years. This article describes the trouble this can cause and how you can avoid it.
The IRS imposes hefty penalties for failing to disclose offshore assets, but it also provides several amnesty programs to help you get back on track. This article discusses the hows and whys of each amnesty program.
This article, the final in a three-part series, applies the FATCA rules discussed in the previous articles to non-U.S. trusts. This article discusses how non-U.S. trusts are treated for FATCA purposes and their options for FATCA compliance.
The second part of this series applies the technical rules discussed in Part 1 to two offshore structures: a direct investment and an investment through an offshore corporation.
If you have offshore investments, you have undoubtedly heard about FATCA. You may have questions about exactly how FATCA applies to your investment structure. This article series cuts through the FATCA hype and fear mongering to show exactly how FATCA will affect your offshore investment.
When you own stock of a non-US corporation, you’re required to file IRS Form 5471, which is one of the most complicated tax forms known to man (or woman). This article discusses all of the background information you need if you’re required to include an IRS Form 5471 in your return.
This articles discusses why non-US banks are sending letters to US accountholders and how to respond.
You can legally reduce your US tax bill by moving your business offshore, but only if you move yourself along with it. This article describes how you can significantly reduce your US tax liability by moving outside the US.
Are you an expat or digital nomad with your own gig going on? This article describes how to wrap everything in the perfect legal structure for your situation so you pay as little US tax as possible.
The FBAR’s shotgun approach catches not only tax dodgers but also ordinary expats who use foreign accounts to do ordinary things like pay living expenses in the local currency. This article discusses the FBAR filing requirement so you can determine if you’ve been caught in the FBAR dragnet.
A “self-directed IRA” structure can allow you to access your US retirement assets for investment in non-US real estate. This article discusses how to form the structure and avoid making costly mistakes.
The foreign earned income exclusion (the “FEIE”) is often the centerpiece of an expat’s tax strategy. However, there are some ins and outs here—the FEIE is not simply a “get out of US tax free” card.
Marrying a non-US person opens up a unique world of tax planning opportunities. This article discusses how to leverage these opportunties to your best advantage.
I'm Stewart Patton, US tax attorney and expat entrepreneur based in beautiful Belize. Read more about me here, or email me at [email protected] to discuss how I can help.
U.S. Tax Services, P.O Box 2651 Belize City, Belize • Belize tel: (+501) 629-6007 • U.S. VOIP: (312) 675-8571 • Email: [email protected]