Expat taxes

"So you're an expat? What's that?" Tax implications of living and working abroad

An expatriate–or expat for short– is just fancy lingo for someone who is living in a different country than their upbringing. And while the idea of being an expat is thrilling for some (What? Living and working in Paris, London or Tokyo?  Yes, please!) it will almost always mark the beginning of needing a legit CPA to help with your taxes. Why? Because United States citizens pay taxes on worldwide earned income. What does that mean? It means that Uncle Sam gets his share even if you live, work, earn money, and pay taxes on that money in a different country. The waters of expat taxes can get murky with complexity, so for now let’s just get our toes wet (a.k.a., seek further competent help if you are going to take the plunge). Continue reading…