Expat Finance
Expat tax and finance are all daunting issues for new expats.
Expert Tax Tips
When living abroad, make sure you know you're not 'invisible' to the taxman! by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
The Foreign Account Tax Compliance Act (FATCA) has allowed governments to crack down on people trying to avoid their tax liability. Governments around the world are working together to make sure you're paying the taxes you're supposed to. Most financial institutions are reporting financial data to their governments, who are turning information over the IRS. It's best to not avoid your taxes - simply ... Continue Reading
Be aware of the intricacies of renouncing your US citizenship. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
While renouncing citizenship has become a popular thing to do, you should know it doesn't automatically help you avoid US taxes. In order to renounce, you must prove that you've been compliant on the last five years of US taxes. Also, depending on your income and net worth, you may be subject to an 'exit tax' when you renounce. ... Continue Reading
Hold on to your IRS records for at least six years. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
The audit time period recently changed from three years to six years, so it's important to keep accurate records and documentation during this time frame. ... Continue Reading
Do your research to know if you're required to file a state tax return. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
If you have any ties to the state, like mortgage payments on property, a state driver's license, voter registration, etc., you may be responsible for filing state taxes until and unless you can prove residency in another state. This varies by state, so be sure to review your state's tax guidelines. ... Continue Reading
Be sure to keep track of the FBAR filing deadline to avoid penalties. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
Currently, the FBAR is due June 30, 2016 for the 2015 filing year with no filing extensions. Beginning next year, the deadline is moving to the same day as Tax Day - April 15th - and you'll have the same filing extension options as you do for your tax return. You'll receive an automatic two-month extension if you're living overseas on April 15th, and may request an extension up until October 15th.... Continue Reading
See if you qualify for the Foreign Earned Income Exclusion by passing a residency test. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
There are two types. The first is the Physical Presence Test, which requires that you are physically present in a foreign country for 330 of any 365-day period. The second is the Bona Fide Residence Test, which requires you to have lived overseas for at least one calendar year and have no immediate intention of moving back to the US.... Continue Reading
Know the ins and outs of taxation related to your Social Security benefits. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
You must report your Social Security benefits as income on your expat tax return. Generally, if you have other income, your benefits will be taxed. If they are, only 85% of your benefits can be considered taxable income.... Continue Reading
Continue to receive your Social Security benefits when retiring abroad. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
If you're considering retiring abroad, you'll be able to collect your Social Security benefits in just about any country in which you choose to live. There are just a few countries where you cannot receive your benefits - but you can always collect all monies owed to you when moving to a country that allows US Social Security payments.... Continue Reading
Catch up on your tax returns and FBAR forms without penalties. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
If you didn't realize you needed to file your expat taxes or FBAR forms, the IRS has an amnesty program you may use to catch up on your filing. The Streamlined Filing Procedures allows you to become compliant with no late filing or FBAR penalties. Simply file the past three years of tax returns and last six years of FBAR forms. ... Continue Reading
Know the US tax filing deadlines and file an extension if needed. by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services
If you're living outside the US on Tax Day (April 15th), you have until June 15th to file your expat taxes. It's important to note, though, if you owe taxes, the amount owed is still due by April 15th. Any taxes owed will accrue interest until you make the payment. ... Continue Reading
Expat Tax & Overseas Tax
Expat tax is one of the most important aspects of managing one's finances after a move abroad. Do not neglect offshore tax issues or wait until the last minute to explore the financial implications of international living. The articles below will help you start your research into expat taxes.
Expat Taxes -- Top Tax Updates Expats Should Know for 2017
It's time for U.S. expats to explore what they'll need to file properly for the 2016 tax year. David McKeegan of Greenback Expat Tax Services offers tax bracket information and others facts you need to know.
Expat Tax -- What Every U.S. Expat Needs to Know about Taxes
Cody Moore discusses FATCA and other reporting requirements for US expats including FINCEN Form 114, Form 8938, Form 5471 and Form 8865.
Expat Taxes -- June Is a Big Month for Expats - Here's Why!
Expat tax expert David McKeegan explains why June is such an important month for U.S. expats. From expat tax returns to FBAR, find out why you can't let the sixth month of the year sneak up on you!
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Expat Finance & Offshore Investment
Expat finance requires proper research while living overseas. Expats are often exposed to offshore investment opportunities not available at home. The articles in this section provides basic overseas finance information to consider while living abroad.
Expat Tax -- What Every U.S. Expat Needs to Know about Taxes
Cody Moore discusses FATCA and other reporting requirements for US expats including FINCEN Form 114, Form 8938, Form 5471 and Form 8865.
Are You Financially Ready to Live Abroad? -- 7 Financial Tips To Help You Live A Global Lifestyle
Whatever your reasons for wanting to live overseas and enjoy a global lifestyle, one thing you can still count on, is that you will have to manage your finances. Lisa R. Mitchell discusses financial tips for expats.
Managing Currency Risk -- Practical Guide to Building a Globally Diversified, Multi-currency Investment Portfolio
David Kuenzi explains how to properly incorporate currency considerations into a sound, long-term investment strategy is much easier than commonly understood.
