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16 02, 2015

US Taxpayers – Protect Yourself From These Tax Scams

US taxes|0 Comments

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. [...]

6 01, 2015

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

2014 Tax Changes, FBAR, foreign taxes, US taxes|0 Comments

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 [...]

3 10, 2013

Have tax questions?

2013 Tax Changes, US taxes|0 Comments

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 [...]

6 09, 2013

Foreign Tax Credit for Individuals

foreign taxes, Tax credits|0 Comments

One important benefit for US taxpayers living abroad is the foreign tax credit. The foreign tax credit prevents the dreaded double taxation by allowing taxpayers a dollar for dollar tax credit for foreign taxes paid. For most taxpayers, claiming a tax credit is more beneficial than claiming a tax deduction. The foreign tax credit is [...]

26 07, 2013

Why should I keep records for my US taxes?

FBAR, foreign taxes, US taxes|0 Comments

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 [...]

25 06, 2013

2013 US Tax Changes

2013 Tax Changes, foreign taxes, Resources, US taxes|0 Comments

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 [...]