BLOG

  • Tax Guide for American Expats in the Philippines

    Tax Guide for American Expats in the Philippines

    This tax guide aims to supplement and enhance your understanding of the Philippine income tax system by providing current insights and practical information. We covered the core rules expats should consider when it comes to residency, income and tax withholding. We have also stressed the importance of on-time tax planning for American expats in the Philippines.

    READ MORE
  • Tax Guide for American Expats in Ireland

    Tax Guide for American Expats in Ireland

    This tax guide aims to enhance your understanding of the Irish income tax system by providing current insights and practical information. We covered the most important rules that expats should consider when it comes to residency, income, taxes, and withholding. We have also highlighted some tax planning and treaty provisions available solely to American citizens and residents living in Ireland.

    READ MORE
  • Tax Guide for American Expats in Germany

    Tax Guide for American Expats in Germany

    This brief tax guide aims to supplement and enhance your understanding of the German income tax system by providing current insights and practical information. We covered the most important rules that expats should consider when it comes to residency, income and tax withholding. In addition, we have also stressed the importance of tax planning and treaty provisions available solely to American citizens and residents living in Germany.

    READ MORE
  • TAXTAKE WINS 2016 BEST IN CLASS FROM INTERACTIVE MEDIA AWARDS

    TAXTAKE WINS 2016 BEST IN CLASS FROM INTERACTIVE MEDIA AWARDS

    WILMINGTON, DE:  Taxtake is an international tax consultancy firm, addressing U.S. cross-border taxation and transactional matters in detail. We are happy to announce that our website www.taxtake.com has been awarded Best in Class by the Interactive Media Awards. The honor recognizes that the project met and surpassed the standards of excellence that comprise the web's most professional work. The site was honored specifically for excellence in the Financial Services category.

    READ MORE
  • 2017 Federal Tax Update. Part 1 – Individuals

    2017 Federal Tax Update. Part 1 – Individuals

    The Internal Revenue Service has recently released Rev. Proc. 2016-55 which is setting forth the cost-of-living adjustments in effect for 2017 tax year. We have compiled the most common individual income tax provisions and contrasted them to the 2016 limits enumerated in Rev. Proc. 2015-53.

    READ MORE
  • Tax Guide for Americans & Expats in the Netherlands

    Tax Guide for Americans & Expats in the Netherlands

    This brief tax guide aims to supplement and enhance your understanding of the Dutch tax system by providing current insights and practical information. We have also stressed the importance of on-time tax planning and treaty provisions available solely to Americans expatriates residing in the Netherlands.

    READ MORE
  • Trump on Taxes! The Outcome of the Elections.

    Trump on Taxes! The Outcome of the Elections.

    The President promised a massive “across-the-board reduction of taxes for working and middle-income Americans.” The Trump Plan proposes to revamp and simplify the tax code with the expectation to boost the economy, create jobs and reduce the tax burden on taxpayers. We have highlighted some of the most relevant changes that affect the average American family.

    READ MORE
  • 10 Real-Life Examples Why American Expatriates Should File a U.S. Tax Return

    10 Real-Life Examples Why American Expatriates Should File a U.S. Tax Return

    Believe it or not, American citizens and residents are obliged to file a U.S. income tax return even if residing outside the United States. Despite the media coverage of the IRS efforts to enforce offshore compliance, many taxpayers are still unaware of the tax implications that follow a decision to relocate abroad. On the other side are the taxpayers who knowingly object filing a return for a number of reasons ranging from a frustrated "It's not fair!" or "Why to pay taxes if I live abroad?" to the stranded "I'd never go back!" To all of you, regardless of your reasons, these real-life examples will make you think twice when the tax season comes!

    READ MORE
  • The 12 Bona Fide Residence Test Factors

    The 12 Bona Fide Residence Test Factors

    US citizens and residents are subject to tax on worldwide income regardless of the location of their permanent home. Expatriates and Americans who are continuously living overseas are still required to file US income tax return and pay any taxes due. Because of the immense burden on taxpayers, Section 911 of the Tax Code was enacted to heave a sigh of relief. The current language of the statute has its roots back to 1942 when Congress considered it necessary to encourage, promote and stimulate international trade, by providing foreign earned income exclusion. The exclusion is capped at $100,800 for 2015 and $101,300 for 2016 tax year. Foreign earned income is defined as income derived from or attributable to services performed in a foreign country. But what is the definition of a foreign country?

    READ MORE
  • US or Foreign Income? The Ultimate D-I-Y Guide.

    US or Foreign Income? The Ultimate D-I-Y Guide.

    Is it important to know whether your income is attributable to the USA or another country? In fact, the determination of the source of an item of income is a number one priority when it comes to taxation rights, allocation of deductions, and foreign tax credit provisions. As an ease to taxpayers, we have developed this do-it-yourself guide to explain some of the most relevant source of income rules. For simplicity and transparency, we have also presented 14 real-life examples!

    READ MORE