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Protect Your Information Online
The IRS urges everyone to dedicate time to securing and storing their personal information to avoid becoming a victim of cybersecurity scams. As Tax Day approaches, many of us are sending and storing information on our personal computers or other devices. We ensure that any information sent to Expatriate Tax Services is stored safely and…
Reporting Foreign Real Estate and Rental Income on Your U.S. Tax Return
Investing in property abroad is a great way to diversify your assets—but it also comes with U.S. tax obligations. If you own foreign real estate or earn rental income from property overseas, here’s what you need to know. 🏠 Foreign Real Estate Is Not Reported on FBAR (Unless…) The property itself isn’t reported on the…
Cost of Living in Major Expat Destinations
The cost of living is a critical factor for anyone considering a move abroad, particularly for expatriates who must often juggle the economics of life in unfamiliar territories. In 2024, understanding the financial implications of living in popular expat destinations like Hong Kong and Zurich is more crucial than ever. Hong Kong: A Pricey Proposition…
Renouncing Your Citizenship
A record number of United States citizens made the decision to renounce their citizenship in 2020. If you are considering renouncing your United States citizenship, consider the below list of requirements and obligations before you do so. Your United States taxes must be fully paid and up to date. Renouncing your citizenship does not void your…
Before Building Back Better…
Biden’s Build Back Better bill has passed the house and there’s no way we can predict if and when it will pass the Senate. Just in case, there are some things you can do before December 31, 2021 to save some tax dollars. If possible, accelerate any of your 2022 income into 2021 to avoid…
