Are you required to file Form 8938, FBAR Form Fincen114?
If you are required to file a U.S.
income tax return and owned certain
foreign financial assets, you are
required to comply with the FATCA and
FBAR rules for individuals regardless of
where you live. Businesses are also
required to comply with these rules. The
below discussion is
24 January 2019 | 5:08 pm
ROTH IRAs Distributions - Two Five-Year Tests
A Roth IRA is an after-tax retirement
account unlike a traditional IRA where
contributions are made pre-taxed with
immediate tax benefit (IRS tax
deduction), subject to AGI limitation.
The pros and cons of Roth IRAs, which
were introduced 20 years ago, are well
understood. All mo
19 January 2019 | 8:09 am
US Tax consequences of selling a home?
The tax consequences of selling a house
located in the US depend on many
factors. The below doesn't apply to you
if you were NOT a U.S. tax resident when
the U.S house was sold.We will attempt
to briefly explain the tax rules that
apply when you sell or otherwise give up
ownershi
7 December 2018 | 11:39 pm
Combat-zone contract workers qualify for foreign earned income exclusion
U.S. citizens or resident aliens expats
contractors or employees of contractors
working abroad are subject to taxes on
their worldwide income. Also, if you
meet the minimum filing threshold
amount, then you must prepare an income
tax return. The contractors or employees
of privat
26 October 2018 | 9:47 pm
US/Brazil Social Security Totalization Agreement comes into effect October 1, 2018!
The purpose of a Totalization agreement
is generally to ensure that
international employee falls under one
social system only (home or host
country), avoiding double social tax
liabilities during the tax return
preparation process or during your
regular payroll cycle.Signed in 20
14 September 2018 | 9:23 pm