This article is written by Ivo Henfling specializing in real estate in Costa Rica. For many years, Costa Rica was a tax haven, just like Panama and some of the Caribbean Islands. Money laundering laws have tremendously changed the fact that expats do not move to Costa Rica to hide...Read more
International Student Taxes – Why to File a US Tax Return?
Foreign nationals moving to the USA as students or scholars can face a lot of exciting as well as daunting challenges. The US tax system is one of the most complex tax systems in the world. A failure to file a USA tax return can result not only in penalties...Read more
3.8% Medicare Tax on Net Income from Investments
The US Patient Protection and Affordable Care Act (PPACA) or so-called “Obamacare” was upheld by the Supreme Court in June 2012. Earlier we wrote an article about Obamacare and American Expats. American expats living overseas are exempt from a penalty tax and from the requirement to obtain a health insurance...Read more
2013 Foreign Housing Exclusion for American Expats
The IRS announced foreign housing costs eligible for 2013 foreign housing exclusion or deduction. American expats are aware that they can minimize US tax liability by claiming the foreign income exclusion, foreign housing exclusion and foreign tax credit (for overseas taxes paid). However, it is important to understand the type...Read more
Are American Expats Subject to Foreign Gifts Tax?
Receiving a foreign gift is a joyous time for American living abroad and foreign nationals residing in the USA. However, American expatriates and nonresident aliens must remember that they might have U.S. expat tax filing requirements in regards to the overseas gift. To determine whether a gift is subject to...Read more