Tax season 2023 is finally upon us!! Important info:
Tax season 2023 is finally upon us!! An important thing to keep in mind: For returns of the 2022 tax year, the COVID stimulus payments...
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- Jan 23, 2023
- 1 min
What if you messed up and claimed the foreign income exclusion by mistake?
What if you messed up and claimed the foreign income exclusion by mistake, and it was detrimental to the outcome of your refund? The...
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- Jan 23, 2023
- 2 min
Difference between the foreign earned income exclusion (FEIE) and the Foreign tax credit (FTC)
What's the difference between the foreign earned income exclusion (FEIE) and the Foreign tax credit (FTC)? Which one is more...
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- Jan 23, 2023
- 1 min
IRS Errors and how to deal with them
Check out these before and after letters. A client of mine had been expecting a refund from his 2018 tax return, paper filed by his...
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- Jan 23, 2023
- 1 min
An easy way around double self employment taxation for US citizen Israeli residents?
The Israeli elections and it's tax implications on US citizens living in Israel: Yes, there may be some real changes due to this...
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- Jan 23, 2023
- 1 min
Who is receiving your IRS mail for you while you're abroad?
Imagine finding this letter in your mail one day. Even worse, imagine that you're living abroad, and your IRS mail is sitting in some...
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- Jan 23, 2023
- 2 min
Residence-based US taxation (RBT): a new idea being presented to Congress
Residence-based US taxation (RBT) is a new idea being presented to Congress, which would address many inequalities US expats face. The...
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- Jan 23, 2023
- 2 min
Common misconceptions about FBAR (Foreign Bank Account Report) filing
Here are some common misconceptions about FBAR (Foreign Bank Account Report) filing: As is well known, a US citizen or green card holder...
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- Jun 20, 2022
- 1 min
Canada is not part of the United States for FBAR (Foreign Bank Account Report) filing purposes.
Newsflash: Canada is not part of the United States for FBAR (Foreign Bank Account Report) filing purposes. Yes, it is considered a...
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- May 30, 2022
- 1 min
Don't donate 50% of your wealth to the IRS! Make sure to file your FBAR on time.
Do you have a bank account in a foreign (non-US) country? If so, there's a good chance you may need to file an FBAR (Foreign Bank Account...
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- May 30, 2022
- 1 min
Filing deadline for Expats approaching
While most tax accountants are enjoying the reduced pressure of post tax season, those filing expat returns are just getting started. The...
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- Mar 31, 2022
- 1 min
Paradoxical disparities between similar income amounts, taxes paid and refunds received
A tale of two expat tax returns: Two clients, both self employed with about $45K income. One owed over $4,000 in taxes, the other...
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- Mar 27, 2022
- 2 min
The 2021 IRS ID Verification Catastrophe: An algorithm gone haywire
The IRS has been known to occasionally send out letters requesting verification of a taxpayer's identity before releasing refunds. Before...
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- Mar 23, 2022
- 1 min
Double social security taxation: The Big Problem for Self employed US persons living in Israel.
Many are under the impression that international tax treaties ensure that there is no double taxation, ever. This is a myth. While they...
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- Mar 17, 2022
- 1 min
A US citizen can file a tax return jointly with their non-US citizen, non-US resident spouse
Did you know that a US citizen can file a tax return jointly with their non-US citizen, non-US resident spouse? The non-US citizen spouse...
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- Mar 17, 2022
- 1 min
Why use an accountant who specializes in expat tax returns?
US Expats: Why use an accountant who specializes in expat tax returns? 1. US based accountants may be unfamiliar with the processes...
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- Mar 17, 2022
- 1 min
The FFCRA Refundable Credit for self-employed individuals
A goldmine hidden in plain sight: The FFCRA Refundable Credit for self-employed individuals. This credit, new for the 2020 tax season,...
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- Mar 17, 2022
- 2 min
Tax planning for low income taxpayers
Tax planning for low income taxpayers - an oxymoron? Definitely not! Traditionally, many accountants have overlooked tax planning for low...
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- Mar 17, 2022
- 1 min
Update on 2021 refunds being issued fast
Great news! I've checked the status of some of my clients' 2021 refunds, and many will be issued in the next few days! This is a great...
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- Mar 17, 2022
- 1 min
Foreign income and the child tax credit refund
Did you know that foreign income can qualify you to receive the child tax credit refund? Sadly, a misconception has caused many to have...
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