News
Article – Biden Tax Plan – Capital Gains
In our previous article, we focused on the potential tax changes to cryptocurrencies, proposed by US President Joe Biden. This week, we move our focus to the possible changes which may be made to capital gains tax. President Biden has made it abundantly clear that he...
Article – IRS Tax Changes – Biden Tax Plan
Since the Tax Cuts and Jobs Act (TCJA) was introduced and signed into law under the presidency of Donald Trump in 2017, minimal further changes have been made to the tax code.
Video – Form 709 – How Gifts are Taxed
For most, it may seem logical that upon receiving a gift, you may end up with a tax liability, this is not the case with regards to US taxation. In the US, gifts are taxed to the person making the gift, rather than the recipient. But even then, large exclusions exist...
Video – Form 8938
Whilst the Report of Foreign Bank Accounts (FBAR) has become more widely known amongst US expats in recent years, lesser known is Form 8938. Administered by the IRS, Form 8938 is very similar to the FBAR, but does have some key differences on who needs to file. Learn...
Video – Schedule F and Farming Income
Amongst the many thousands of rules and regulations that the IRS requires US citizens to comply with, are a separate set of regulations and forms for those with income from farming. Reported on Schedule F, farming income can have some very beneficial tax treatment,...
Video – The Substantial Presence Test & Tie Breaker
Despite global travel restrictions, here at US Global Tax, we still work with a large number of clients who travel back and forth to the US frequently. The Substantial Presence Test can be used (amongst other regulations) to determine when you may become a tax...
Video – FIRPTA Withholding for Non-Residents
Buying and selling property in the USA is a popular investment method for many, including non-US citizens. But, the tax implications of selling a US based property can sometimes be confusing, and costly. Learn more in our video below, or call us today.
Video – The Different US Tax Implications for US Citizens & Green Card Holders
Our clients frequently ask us the question "I currently hold a US Green Card, and considering citizenship, what will be the tax difference?". In most cases, the difference can be very little at all. However, there are some key differences, which we outline in our...
Trust Extension Deadline Today
Its been a busy week for us at US Global Tax. Here we are at the first deadline for the year, the 15th March foreign trust filing deadline (most corporate tax filings also are due today). For any US citizen who has an interest in a non-US trust, you may have a...
Guest Article – Why US Brokerage Accounts of American Expats are Being Closed
Thun Financial Advisors, Copyright © 2020 This week, we are publishing a guest article from Thun Financial Advisors, a division of Creative Planning. Thun Financial offer financial services to US citizens residing both in the US, and overseas -...