The United States has a complex tax system, and that system becomes even more complicated when you factor in foreign investment income. If you’re a U.S. citizen or resident alien with foreign investment income, you’ll need to know how to handle the taxes on that income. This guide will cover the basics of taxes on…
To start off, an expat is someone who lives in a foreign country for a prolonged period of time, usually for work or retirement. If you are an expat and considering getting married or divorced, it’s important to be aware of the tax implications that may arise from either decision. The Tax Benefits of Marriage…
Introduction The Tax Cuts and Jobs Act (TCJA) brought about some major changes to the US tax code, including a reduction in the corporate tax rate from 35% to 21%. These changes will have a significant impact on US expatriates and their tax obligations. The due date for filing US tax returns is April 15th….
The foreign tax credit is a credit available to taxpayers who pay taxes to a foreign country. The credit is intended to offset the burden of double taxation, whereby a taxpayer is taxed on the same income by both the United States and the foreign country. The credit is available to both individuals and businesses…
The United States is one of the few countries in the world that taxes its citizens on their worldwide income, regardless of where they live. This can create a significant tax burden for U.S. citizens living and working abroad. The good news is that there is a way to minimize your tax liability as an…
Taxes can be a confusing and stressful topic for many people, especially when you are unemployed. When you are unemployed, you may not have to pay taxes on your unemployment benefits, but you may still have to pay taxes on other income sources. In addition, you may be required to pay taxes on unemployment benefits…
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