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FATCA Reporting Threshold for Foreign Assets Declaration

If your foreign assets exceed the FATCA reporting threshold, you must declare them. Ensure compliance with FATCA guidelines to avoid…

Understanding Currency Exchange Rates for Reporting Foreign Income Tax

Currency exchange rates can impact the reporting of foreign income tax. Fluctuations in exchange rates can affect the value of…

How to Report Foreign Gifts to the IRS: Understanding Gift Tax Reporting

If you received a large gift from your family abroad, it is important to know that you may need to…

Reporting Income for Freelance Remote Work with Non-US Companies

Learn how to report income from freelance work done remotely for a non-U.S. company, including tax obligations and considerations.

Tax Implications of Withdrawing from a Foreign Retirement Account on a K-1 Visa

If you withdraw from a foreign retirement account while on a K-1 visa, there are tax implications. Learn about these…

Expats’ Guide to Deducting Home Country Medical Expenses on U.S. Taxes

Learn whether expats can deduct medical expenses incurred in their home country on their U.S. tax return and explore medical…

Claiming Children Abroad on Taxes: Understanding the International Dependent Tax Credit

Wondering if you can claim children living abroad as dependents for tax purposes? Learn about the rules and eligibility for…

K-1 Visa Taxes: Reporting Foreign Rental Income

As a K-1 visa holder, you are required to report and pay taxes on your foreign rental income. Learn more…