“Roth IRA Rules for U.S. Citizens Living Abroad: When Are Contributions Allowed?”

For U.S. taxpayers residing overseas, contributing to a Roth IRA offers a powerful opportunity to build tax-advantaged retirement savings over the long term. However, the rules surrounding eligibility can be complicated, particularly when the foreign earned income exclusion and international tax treaties are involved. This article explores the key considerations expatriates need to consider when [...]

Understanding the Tax Implications of Traditional IRA and 401(k) Plans

Traditional Individual Retirement Account (IRA) and 401(k) plans are essential tools for retirement savings, each offering unique tax advantages and rules that taxpayers should understand.   Contribution Limits For the year 2024, employees can contribute up to $23,000 annually to a traditional or safe harbor 401(k) plan, with an additional catch-up contribution of $7,500 allowed [...]

Navigating the Tax Implications of Health Savings Accounts (HSAs) and Premium Tax Credits (PTCs)

Tax Implications of Health Savings Accounts (HSAs) and Premium Tax Credits (PTCs) Healthcare costs in the U.S. can be burdensome, but Health Savings Accounts (HSAs) and Premium Tax Credits (PTCs) provide valuable financial support. HSAs allow individuals to save for qualified medical expenses with significant tax advantages, while PTCs help make health insurance more affordable [...]

How the Latest Tax Law Affects U.S. Expats and Foreign-Owned Businesses in 2025?

Starting with the 2025 tax year, the One Big Beautiful Bill Act (OBBBA) introduces several important changes that will affect U.S. taxpayers living abroad.  Here is a concise summary tailored for expats: Key Individual Tax Changes Affecting Expats (Effective 2025): Permanent Extension and Increase of Standard Deduction: The increased TCJA standard deduction is now permanent and further increased [...]

Navigating the 2025 Tax Landscape: What Individuals Need to Know

As 2025 unfolds, U.S. taxpayers face a pivotal moment in tax policy. The House’s One Big Beautiful Bill Act (H.R. 1) and the Senate Finance Committee’s June 28 bill are reshaping the future of personal and business taxation. These reconciliation bills aim to extend, modify, or replace key provisions of the Tax Cuts and Jobs Act (TCJA), [...]

Inside the ‘Big Beautiful’ Tax Bill: What Could Change for Your Wallet?

Summary of Key Provisions in the Proposed “Big Beautiful” Tax Bill In May 2025, the House Ways & Means Committee released an initial draft of the “Big Beautiful” tax bill, aiming to extend and make permanent many of the tax cuts originally enacted in 2017 under the Tax Cuts and Jobs Act (TCJA). While the [...]

Struggling in which company type you should choose for your new business?

LLC or S-Corporation? Here are some US Individual tax impact you may want to consider Entrepreneurs and real estate investors frequently turn to Limited Liability Companies (LLCs) for their versatility, liability safeguards, and estate planning benefits. As a preferred structure for new businesses and property ownership, LLCs can offer substantial advantages. However, they are not [...]

Common mistakes of an Expat tax return

For many U.S. Citizens, working in a foreign country can be an exciting opportunity to be exposed in a new environment.  Yet with new opportunities, however, also comes with new risks, as many expats do not recognize that they have U.S. tax filing obligations.  There are many nuances and complexities for U.S. tax laws, of [...]

American Pacific Tax – Why Choose US to Prepare Your U.S. Taxes?

At American Pacific Tax, our vision is to be the best service provider for Individual Taxpayers located in Hong Kong and Asia. Prospects and clients have asked us why they should choose American Pacific Tax as a service provider and here 5 reasons!!!!!    1. Expertise and Helpfulness Our firm has been established in Hong [...]

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