Tax Hacks: How to Legally Avoid Paying US Taxes While Living Abroad
As an American living abroad, you may have to pay taxes in both the US and the country you reside in. However, there are several legal ways to reduce or eliminate your US tax liability while still maintaining compliance with
How to escape double taxation by international tax treaties?
Double taxation is a nightmare for every taxpayer. If you have a multinational presence, you should always be updated on the latest rules about international tax treaties to avoid double taxation. The rules may be complicated to a layman and
How To Save Tax By Sending Money To Family As Ex-Pat?
Can ex-pats save tax by sending money to their families in the USA? American ex-pats living abroad come across certain sticky situations when it boils down to taxpaying. The most significant of them is double taxation. Ex-pats are always anxious about
Ex-pats may have to pay luxury tax on cars in Canada
On August 10th, 2021, the luxury tax was initially proposed (2021 budget). To establish the draught legislation, the essential steps were, however, only recently taken on March 11, 2022. Stakeholders were eventually asked to comment on the draught by April
Chemical Excise Tax: What do business owner ex-pats need to know about this?
After being passed unanimously by the House, the new Superfund Excise Tax is set to be effective from 1st July 2022. The policies shall remain in effect until 31st December 2031. This is more of a reinstatement of the previous
What is Child Tax Credit and How US Expats Can Avail the Benefit?
Millions of US residents work in different nations and spend a considerable period of their life on foreign soil. The most prominent destination is the neighboring country, Canada. As a US expat and professionally working outside, you can claim the
IRS tax deadline extended: Tax filing guide for expats
The IRS tax filing deadline in the USA that was initially on April 15 is extended to May 17 in the year 2021. This also allows the taxpayers who are interested in participating in the Annual Filing Season Program (AFSP)
US Presidential Elections: Key Takeaways For Immigrants And Expats
In the nail-biting race for the post of the President of the United States of America (USA), the world’s most powerful and largest democratic nation, Joe Biden of the Democratic Party succeeded to secure the majority to become the 46th
Why should you reach a tax consultancy before starting business in New York?
Well, millions of taxpayers decide to perform complex tax preparation by themselves. And it's something that cannot be taken up casually. It's an extremely important subject matter. Yes, this practise may not put their life at risk, but it is
Tax returns filing difficulties faced by US expats
Tax returns by US Expats United States citizens are liable to pay taxes to both the federal and state governments even if they currently reside outside the United States of America. The global coronavirus pandemic added to this picture is causing