Questions about your U.S. tax returns for 2015 and 2016?

If you have filed your tax return for 2015, great job and we have included some useful tax tips to help planning for 2016.  https://www.irs.gov/uac/start-planning-now-for-next-years-taxes Here are some important tax deadlines to be aware of for the upcoming year. September 15, 2016 3rdQuarter Estimated Tax Payments for 2016 October 17, 2016 Extended 2015 US tax [...]

Foreign Tax Credit for Individuals

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 [...]

2022-01-06T09:05:11+00:00Tax Benefits|0 Comments

What are the benefits of filing US taxes for expats?

Earnings thresholds US citizens living abroad can exclude up to $95,100 of foreign earned income for the 2012 tax year if certain requirements are met. Be careful as earned income does not include rental income, dividends, interest, capital gains etc. because they are not earned income and will be subject to taxation. This exclusion is [...]

2022-01-12T09:01:00+00:00Tax Benefits|0 Comments
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