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Taxation for Expats with Foreign Corporations: All You Need to Know about GUILTI Tax

Do you have a Foreign Corporation? You should be thinking about GILTI tax! In this article, I explain all that you need to know. 2018 was the year for Guilty tax, a tax that hits U.S. owners of foreign corporations. In order to understand what GILTI tax is, let’s begin by looking the history behind …

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Breaking Down the Child Tax Credit for those filing taxes in the USA

To receive the child tax credit, you must determine if your child is eligible. There are seven qualifying tests to consider: age, relationship, support, dependent status, citizenship, length of residency, and family income. You and/or your child must pass all seven to claim this tax credit. How to determine who qualifies for the tax credit Here’s how to determine …

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Tax Advice for Expats from the USA: International Information Returns for Foreign Entities

Do you own a foreign company or trust Have you given or received money or property to or from a foreign company, trust or person? The IRS wants to know about it! Requirements for filing an informational return on foreign entities in which you have a stake The IRS requires every “US person” (I.e., US …

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Taxation of US Government Civilian Personnel Living Abroad

Here’s what you need to know about taxation in the USA if you are a government civilian living abroad. (Updated: January 30, 2019) U.S. Government Civilian Employees Working Overseas If you are a U. S. citizen working for the US Government, including the Foreign Service, and you are stationed abroad, your income tax filing requirements …

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If You Have Assets Outside the U.S – You Probably Need to Report them Annually – FBAR, FinCEN and FATCA

Do you have assets overseas? Bank or savings accounts, brokerage accounts, real estate, companies, gold or other commodities overseas? Can you sign on an overseas account (even if it is not yours)? YOU MAY HAVE A REPORTING OBLIGATION. The U.S. government requires US persons to report their foreign assets and foreign financial assets over which …

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New Tax Law: Four Questions Every Business Owner Should Be Asking

Favorable or not The tax reform brings new changes that are important for every entrepreneur to be aware of when filing their 2018 taxes. Deadlines, deductions, fees and enough acronyms to confuse even the most experienced cruciverbalist. It’s no wonder that smart business owners, big or small, work alongside tax advisors to help them sort …

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