Author: holaexpat

06 Jan

Foreign Business Entities

Expats with local or cross-border business interests commonly establish foreign business entities (e.g., corporations, sole proprietorships). Unfortunately, many US expats are caught off-guard when they learn about the filing requirements associated...

03 Jan

Self Employment Tax and US Expats

Self-Employment Tax (FICA) includes: Social Security and Medicare. For most people, this tax is equal to 15.3% of the reported net income. Normally, employers and employees split this tax responsibility. However, the...

02 Jan

IRS Penalties (for not filing or paying)

by holaexpat in General Expat Tax Information in General Expat Tax Information Comments

Many Americans living and working abroad forget to file their US tax returns. Others know about the obligation, but disregard it. What's the worse that can happen, right? The short...

28 Dec

US Tax Returns – Filing Requirements

by holaexpat in General Expat Tax Information in General Expat Tax Information Comments

Filing Requirement Generally speaking, if your total income for the year does not exceed the standard deduction (per your filing category), then you don't need to file a federal tax return. Starting...