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Expat tax and finance are all daunting issues for new expats.

Expert Tax Tips

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

Use the Foreign Housing Exclusion to Deduct Some of Your Housing Costs
by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services

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

Rental Property Deductions Can Help You Save More
by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services

If you have a US rental property, there are several deductions you can take to reduce your US taxes. You can deduct: Repairs - any improvement that brings your property back to its original state can be deducted. Capital improvements are those that increase the value of your property and those are not deductible. Start-up costs - you can deduct up to $5,000 of the costs you ... Continue Reading

Use the Foreign Tax Credit to Reduce Taxes Paid to the US
by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services

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

File the FBAR if you are Required
by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services

The FBAR (Foreign Bank Account Report) is part of the US effort to uncover tax cheats who are hiding money in overseas accounts. You must file FBAR if you have $10,000 or more in foreign bank accounts at any point during the tax year. This is an aggregate amount over all your accounts and even if you reached that balance for only one day during the year, you are required to file. Penalties for failing to file FBAR when required can be steep so it is important to file if your account balances met that threshold.... Continue Reading

Use the Foreign Earned Income Exclusion to Save More on your US Taxes
by Expert Tax Advisor David McKeegan, Greenback Expat Tax Services

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

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 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!

Expat Taxes - US Property -- Selling U.S. Property

Pressed to sell your U.S. abode? Don't overlook the benefits of partial section 121 exclusion.

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.

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