US taxes

/US taxes

What is an ITIN and do I need to get one?

What is an ITIN? ITIN (Individual Taxpayer Identification Number) is a tax processing number issued by the Internal Revenue Service. It is specifically for nonresident aliens who fulfil filing requirements but are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA). An ITIN does not offer work authorization or [...]

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US Taxpayers – Protect Yourself From These Tax Scams

The Internal Revenue Service has recently created a list of the top “Dirty Dozen” tax scams for 2015. Common scams have included threatening phone calls and email phishing (stealing personal information or personal identity). The illegal scams can lead to potentially significant penalties and interest for taxpayers, as well as possible criminal prosecution for perpetrators. [...]

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Need to file your 2014 US taxes living abroad and prepare for 2015? Find the newest updates here.

Here is some additional useful information to plan for year-end.   Stamp Out Tax Season Stress! Are you ready for tax time? There are a couple of steps you can take now to alleviate some of the stress of filing your return. Plan to get organized early. Begin by putting together a tax folder with [...]

Have tax questions?

Do you have questions about the recent tax changes? We have provided some updates that could affect you. Please contact us today if you would like to schedule a consultation.   Does the New Surtax Apply to You?   As of January 1, 2013, there is a 3.8% net investment income tax on some categories [...]

Why should I keep records for my US taxes?

Good organization and recordkeeping is very important when tax deadlines approach in April (June for those living overseas). Good recordkeeping will help you with the following: –        Prepare accurate income tax returns –        Ensures you will provide all necessary information to you CPA –        Keep track of valuable deductible expenses –        Give you peace of [...]

FBAR, foreign taxes, US taxes|0 Comments

2013 US Tax Changes

The IRS has recently implemented some changes with the American Taxpayer Relief Act of 2012 that may affect taxpayers working and living in Hong Kong and abroad beginning in 2013. Some of these changes are:  2013 tax rates up to 39.6% for income over $400,000 single and $450,000 married filing jointly 2013 AGI above $250,000 [...]