Mark Barrett’s Post

Living abroad and feeling lost with your taxes? You're not alone! As a UK expat, navigating the complex world of taxes can be daunting. Here’s some quick advice to help you stay on track: Know Your Filing Obligations: Even if you reside abroad, you might still need to file a tax return in the UK. Understand Foreign Income Exclusion: You may be eligible to exclude a portion of your foreign income from UK taxes. Claim Foreign Tax Credits: Avoid double taxation by claiming credits for taxes paid in your host country. Stay Updated on Tax Treaties: Some countries have agreements to prevent double taxation, so know your rights! Keep Detailed Records: Document your earnings, taxes paid, and any financial transactions to simplify filing. 💡 Top Tip: Consult a tax professional who specialises in expat taxes to ensure you’re compliant and maximising your benefits. Don’t let taxes stress you out – get the right advice and enjoy your expat life! 🌐✈️ 📞 01249 816 810 #ExpatLife #TaxTips #FinancialAdvice #UKExpats #TaxSeason #ForeignIncome #StayCompliant #DoubleTaxation #TaxCredits #ExpatLiving

Expats, Ready to Save on Your 2024 Taxes? Here Are the Top 3 Strategies You NEED to Know! 🌍💼 1. Foreign Earned Income Exclusion (FEIE): Qualify to exclude up to $120,000 of foreign income in 2024! This can significantly reduce your taxable income. 💰✈️ 2. Foreign Tax Credit (FTC): Already paying taxes abroad? You can claim credits for foreign taxes paid, avoiding double taxation! 🌍🧾 3. Housing Exclusion: If you’re paying for housing while working abroad, you may be able to deduct those expenses. 🏠✅ 📩 Want to maximize your expat tax benefits? Contact our founder & CPA Anshul Goyal at anshul@kkca.io for expert advice! #TaxTips #Expats #TaxStrategies #IRSCompliance #ForeignIncome #TaxCredits #CPA #TaxSeason

𝐂𝐨𝐧𝐟𝐮𝐬𝐞𝐝 𝐚𝐛𝐨𝐮𝐭 𝐟𝐨𝐫𝐞𝐢𝐠𝐧 𝐢𝐧𝐜𝐨𝐦𝐞 𝐞𝐱𝐜𝐥𝐮𝐬𝐢𝐨𝐧𝐬 𝐥𝐢𝐤𝐞 𝐒𝐡𝐞𝐥𝐥𝐲? Shelly had the same question many expats do—why do some people skip claiming the Foreign Earned Income and Housing Exclusions, how does it benefit them, and does it really affect your taxes? 💭 In this video, our founder, Michael A. Mertz, CPA, explains why some expats skip this option and whether it could be the right move for you. If managing your U.S. taxes while earning abroad feels overwhelming, this video will give you the answers you need to take control of your tax situation! 💼 𝗗𝗼𝗻’𝘁 𝗹𝗲𝘁 𝘁𝗮𝘅 𝘄𝗼𝗿𝗿𝗶𝗲𝘀 𝗵𝗼𝗹𝗱 𝘆𝗼𝘂 𝗯𝗮𝗰𝗸 𝗳𝗿𝗼𝗺 𝗲𝗻𝗷𝗼𝘆𝗶𝗻𝗴 𝗹𝗶𝗳𝗲 𝗮𝗯𝗿𝗼𝗮𝗱. Join our community for live Q&A sessions and get expert advice to help you save more on your U.S. taxes. 👉 𝗥𝗲𝗮𝗱𝘆 𝘁𝗼 𝗴𝗲𝘁 𝘆𝗼𝘂𝗿 𝘁𝗮𝘅 𝘀𝗶𝘁𝘂𝗮𝘁𝗶𝗼𝗻 𝘀𝗼𝗿𝘁𝗲𝗱? Follow us on YouTube and Facebook for more tips and strategies to make your tax life easier: Watch more on YouTube: https://lnkd.in/ePeiA898   Follow us on Facebook: https://lnkd.in/e93PqEXB #TaxTips #ExpatLife #TaxSeason #MertzInternationalLimited 

🌍 Living abroad and unsure about your U.S. tax filing requirements? We've got you covered! As a U.S. citizen or resident alien, your worldwide income is subject to U.S. tax, no matter where you live. Ensure you’re compliant with income, estate, and gift tax rules, and avoid common pitfalls like misreporting foreign income or missing FBAR filings. Need expert guidance? Book a consultation with our experienced team at Tax Samaritan. We’re here to help you navigate the complexities of expat taxes with ease. 🔗 Book a consultation now: https://lnkd.in/gusJjVGH. #TaxFiling #LivingAbroad #ExpatTaxes #TaxSamaritan

🌍 Living abroad and unsure about your U.S. tax filing requirements? We've got you covered! As a U.S. citizen or resident alien, your worldwide income is subject to U.S. tax, no matter where you live. Ensure you’re compliant with income, estate, and gift tax rules, and avoid common pitfalls like misreporting foreign income or missing FBAR filings. Need expert guidance? Book a consultation with our experienced team at Tax Samaritan. We’re here to help you navigate the complexities of expat taxes with ease. 🔗 Book a consultation now: https://lnkd.in/gusJjVGH. #TaxFiling #LivingAbroad #ExpatTaxes #TaxSamaritan

When working on expat taxes we consider both the client’s UK tax residence position and their domicile. This affects whether someone pays UK tax on their global income or potentially just their UK income. It’s vital to get this right, maximising tax efficiency. Laura Sant talks through the options and the Foreign Income and Gains Scheme (FIGS) rules indicated in the recent Budget here: https://buff.ly/450Y4xg We provide tax compliance services to UK expats living abroad, UK residents with complex tax affairs, foreign citizens who've moved to the UK and general UK tax services. Contact us on +44 330 165 5340 or email clientservices@lsrpartners.com UK tax clarity for global clients - Pay the right tax to the right place at the right time. #expattax #internationaltax #uktax #domicile #hmrc

🌍 Living abroad and unsure about your U.S. tax filing requirements? We've got you covered! As a U.S. citizen or resident alien, your worldwide income is subject to U.S. tax, no matter where you live. Ensure you’re compliant with income, estate, and gift tax rules, and avoid common pitfalls like misreporting foreign income or missing FBAR filings. Need expert guidance? Book a consultation with our experienced team at Tax Samaritan. We’re here to help you navigate the complexities of expat taxes with ease. 🔗 Book a consultation now: https://lnkd.in/g95hH5MX. #TaxFiling #LivingAbroad #ExpatTaxes #TaxSamaritan

Claiming tax credits as a US expatriate can significantly reduce your tax liability and save you money. By understanding the eligibility requirements and following the correct procedures, you can take full advantage of these benefits. Here’s a simple guide on how expatriates can claim tax credits. Determine Eligibility: Ensure you qualify for tax credits like Foreign Earned Income Exclusion (FEIE), Foreign Tax Credit (FTC), and Foreign Housing Exclusion or Deduction. FEIE: Allows exclusion of foreign earnings from U.S. taxes. Requires meeting Bona Fide Residence Test or Physical Presence Test. Use Form 2555 or Form 2555-EZ. FTC: Prevents double taxation by offsetting U.S. tax liability on the same income. Use Form 1116. Foreign Housing Exclusion or Deduction: Allows housing expenses exceeding a base amount set by the IRS. Use Form 2555. Keep Detailed Records: Maintain accurate records of foreign income, taxes paid, and housing expenses to support claims and provide proof. #ExpatTax #TaxCredits #ForeignEarnedIncome #ForeignTaxCredit #LivingAbroad

Explore four effective ways for expatriates to minimize their tax burden and avoid double taxation. From relocating to a tax-free country to utilizing the Foreign Earned Income Exclusion, Foreign Tax Credit, and navigating Tax Treaties, this video breaks down practical steps to achieve tax efficiency abroad. International taxes can feel overwhelming, but we're here to help.  Stay tuned for more expert advice on expat tax preparation, and don't hesitate to drop your questions in the comments section below! Follow our channel or reach out for a consult, visit 🌐 mcgowintax.com #expat #internationaltax

U.S. Expats, it's time to focus on your taxes! April brings critical updates that you need to know. From filing deadlines to adjustments in the foreign earned income exclusion, staying on top of these changes is key to ensuring compliance and optimizing your tax returns. Don't let tax season catch you off guard. We're here to help you navigate the complexities of expat taxation, making sure you meet your obligations without stress. Connect with our experts today and take the first step towards hassle-free tax handling. kkassociate.com #USExpats #ExpatLife #TaxTips #AprilUpdates #OverseasAmericans #KKA