How Expats Can Avoid 10 Common Mistakes Surrounding Taxes & Foreign Earned Income
Whether you're moving overseas for a change of scene or for a work assignment, going abroad can be an exciting new venture. Many oil expats get inundated with information on their new home's language, customs, and currency, but fail to take note of the various financial and tax changes that come with a transglobal move.
Before changing your address, it's crucial to take a hard look at the financial rules unique to expats. Whether you're juggling tax forms and credits, purchasing real estate, or managing various financial accounts, living in a different country as a U.S. resident can be a lot to manage. Overlooked and often unknown errors can result in double taxation, an incorrect or incomplete tax return, or expensive penalties. In this webinar, we'll discuss common mistakes and rules unique to U.S. citizens moving abroad including:
- Which tax rules do you get to give up when you leave U.S. soil and what's still required as a U.S. resident living overseas?
- How can the foreign currency and your new home country's exchange rate impact your tax bill?
- When purchasing foreign real estate, what tax breaks are available and how are property taxes evaluated on your U.S. tax return?
- What tax strategies and credits are available to expatriates and how could you leverage them?
- What are the consequences for mishandled foreign filing and how can you remedy mistakes made in previous years?
Not tending to these details, or making the wrong decision about something, could result in costly mistakes. We offer comprehensive financial planning, which includes reviewing clients’ tax returns and helping them prepare for the financial impact of undertaking an expatriate assignment. In this webinar, we discuss the frequent errors we encounter within tax returns from high-income earners, and how to prevent or correct these costly mistakes. Watch now by filling out the form.
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