Tax preparation in your own country might be challenging. However, filing taxes abroad as a US Tax For Us Citizens Living Abroad might be even more complex. You'll need to do a lot of study as an expat to make sure you don't overlook any crucial stages. To avoid double taxation and, more crucially, avoid harsh tax penalties, you must comprehend the law, be aware of its exceptions, and be mindful of its loopholes. We're here today to make filing U.S. expat taxes as simple as possible.

1. Tax preparation in your own country might be challenging. However, filing taxes abroad as a US Tax For Us Citizens
Living Abroad might be even more complex. You'll need to do a lot of study as an expat to make sure you don't
overlook any crucial stages. To avoid double taxation and, more crucially, avoid harsh tax penalties, you must
comprehend the law, be aware of its exceptions, and be mindful of its loopholes. We're here today to make filing U.S.
expat taxes as simple as possible.
It is never enjoyable to rush and fret over filing your taxes. Make sure you know the filing deadline in full and get going
as soon as possible.The tax filing date is April 15. However, foreign-based expatriates have the option to ask for a
delay. Your new filing date will be October 15 if you are granted an extension by the IRS.
Ascertain if you must submit Form 8938 and the FBAR. The majority of expats will have to submit one or the other. If
an expat submitting a U.S. tax return, you must file the FBAR. You must declare both overseas assets and foreign
accounts on Form 8938.
When the combined amount of your overseas bank accounts exceeds $10,000, you must file the FBAR. The minimum
amount to file a U.S. return is $10,300 if you are 65 and filing as a single person.
Bank accounts, investments, and retirement funds must be reported on FBAR. Regardless of whether you have signing
authority or shared ownership, all statements are subject to the $10,000 barrier.
The IRS isn't interested in taxing you twice on the same money, despite how awful you may believe they are. Expats
can already benefit from several exemptions, deductions, and credits to assist them in avoiding paying taxes twice.
One of these is the Overseas Earned Income Exclusion, a law that lets you avoid paying taxes on up to $100,800 of
foreign income. One of two exams for foreign residency must be passed to apply for the FEIE:
1. You must spend 330 out of 365 days physically in a foreign nation.
2. You must have yet to have any urgent plans to return to the United States for the last calendar year while living
overseas.
The Physical Presence Test can determine if you are an expatriate, but you also need proof of your travels. You must
physically reside in another nation for a continuous period of at least one tax year to pass the physical presence test.
You could be eligible if you resided there for a minimum of 330 whole days during a continuous 12-month period.
Days spent flying (or sailing) to and from the United States do not count.
Always keep your travel information organized and accessible. A minor mistake on your travel documents might result
in a hefty charge. The IRS provides a wealth of valuable resources for further details on the Physical Presence Test.
Anyone might find the process of filing tax returns to be challenging. It might be difficult for Americans living abroad
to comprehend the ins and outs of taxation. It will be far less stressful if you consult a tax expert before you begin this
process.
info@usaexpattaxes.com 1913-850-3185 www.usaexpattaxes.com
Helpful Tips for Effectively Receiving a US Tax For Us
Citizens Living Abroad