Use the Foreign Housing Exclusion to Deduct Some of Your Housing Costs

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Using the Foreign Housing Exclusion you can deduct the equivalent of foreign rents, utility bills (apart from telephone and cable), furniture rental, repairs, parking and more. There is a ceiling to the amount you can deduct and this ceiling is directly tied to the Foreign Earned Income Exclusion amount each year. For 2013, the maximum you can deduct is $29,280. However, if you live in a city with a higher cost of living, that amount can increase. (Continue Reading)

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David is an IRS Enrolled Agent, an MBA and an experienced finance professional and entrepreneur. David and his wife, Carrie, were frustrated with the process of filing their expat taxes. They found plenty of accountants, but few who could accurately prepare expat taxes. There were expensive accountants who treated them like a number and US CPAs who were well meaning, but not up to date on the rules as they apply to expats. Together they decided there had to be a better way. So they created the kind of company they wanted to work with - and Greenback Expat Tax Services was born!

Use the Foreign Earned Income Exclusion to Save More on your US Taxes

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US expats can deduct $97,600 of foreign income from their 2013 US tax return with the Foreign Earned Income Exclusion if they qualify as an official expat. (This amount jumps to $99,200 in 2014.) To qualify as a US expat, you must pass one of two determining residency tests: The Physical Presence test (PPT) or the Bona Fide Residence test (BFR). With the PPT, you must be outside the US for 330 of any 365-day period and earn foreign income. (Continue Reading)

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David's Tips | Q&A | Full Bio & Company Info

David is an IRS Enrolled Agent, an MBA and an experienced finance professional and entrepreneur. David and his wife, Carrie, were frustrated with the process of filing their expat taxes. They found plenty of accountants, but few who could accurately prepare expat taxes. There were expensive accountants who treated them like a number and US CPAs who were well meaning, but not up to date on the rules as they apply to expats. Together they decided there had to be a better way. So they created the kind of company they wanted to work with - and Greenback Expat Tax Services was born!

Use the Foreign Tax Credit to Reduce Taxes Paid to the US

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If you exclude some of your foreign income using the Foreign Earned Income Exclusion yet you still have additional income that incurs US tax liability, the Foreign Tax Credit is your best weapon. This is a dollar-for-dollar reduction on the taxes you pay to your host country. For every dollar that you paid in foreign tax, you can directly reduce that amount on your US taxes. This credit is designed to mitigate all or some of the double taxation that arises when US taxpayers earn money abroad and are also taxed in the foreign country. (Continue Reading)

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David's Tips | Q&A | Full Bio & Company Info

David is an IRS Enrolled Agent, an MBA and an experienced finance professional and entrepreneur. David and his wife, Carrie, were frustrated with the process of filing their expat taxes. They found plenty of accountants, but few who could accurately prepare expat taxes. There were expensive accountants who treated them like a number and US CPAs who were well meaning, but not up to date on the rules as they apply to expats. Together they decided there had to be a better way. So they created the kind of company they wanted to work with - and Greenback Expat Tax Services was born!

Internet Access in Costa Rica

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There are lots of options, especially in the Central Valley, for Internet access in Costa Rica. ADSL via landline telephone, cable Internet, WiMax and cellular service are the most popular. (Continue Reading)

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Buying Real Estate in Ecuador

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Use a licensed realtor -- known as a corredor de bienes raices (CBR) this is an individual who has taken courses in the legalities, ethics and special issues of buying and selling real property in the country of Ecuador. (Continue Reading)

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