US expats are required to file federal tax returns. However, most expats can reduce their tax bills. Here’s what you need to know about the US expat tax.
The period of time you can claim this expat tax rate starts from the first year when the expat has spent more than 183 days in Spain and continues for a total of five years or more. US – Spain Tax Treaty The US and Spain have a tax treaty in place, which is is an expat’s ...
The US tax code has many rules. If you’re living in the US as a non-resident or as an expat with a visa, you’ll want to understand how taxes work. The way you file depends on your employment status, whether you’re single, and several other factors. Use this guide to help get...
Need US expat tax advice? Book a consultation now! Schedule a Call FATCA Form 8938 If you file an FBAR, you might also need to fileForm 8938. Introduced under the Foreign Account Tax Compliance Act (FATCA), the form requires U.S. taxpayers to report specified foreign financial assets that...
for example. Carlos has primary custody and is the custodial parent of Clara and claims the Head of Household status. Carlos releases Clara’s exemption to Kiki every other year, so Kiki can claim the exemption and Child Tax Credit, as explained below. (Kiki can’t file as HoH, however....
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“Joint with Spouse” or “Separate”. Obviously, if your spouse is not working, then you choose “joint” but if both are working, it’s more beneficial to declare separately. That would leave us with Part B and Part F. Take note that by now, you should have received yourEA form...
Do I have to file a tax return in the US? US tax rules are generally based on your income. So if your total income is lower than the standard deduction plus one exemption, and if you aren’t dependent on another taxpayer, you’re considered exempt. If you’re exempt, that means you...
Filing a tax return using the Head of Household (HOH) filing status has qualifying rules but provides a higher standard deduction and lower tax rates. Individuals must support a qualifying dependent and pay more than half the cost of supporting a home. Key Takeaways Head of Household is a ...