Harless Tax Blog

Harless Tax Blog

Expats Who Think Renouncing US Citizenship Means Tax Gains Might Need to Think Again

Wednesday, May 25, 2016

Although keeping up with US tax requirements while living and working abroad can provide annoyances and challenges, renouncing US citizenship to avoid IRS responsibilities could mean both penalties and a loss of tax credits. From losing the ability to shield much property from US estate tax (down to $60,000 for a non- citizen from the $5.45 million allowed for US citizens) to restrictive limits on giving gifts tax free to US citizens, expats cum non-US citizens lose these significant tax shelters.  See More

Reporting Foreign Income: Eight Tax Tips From the IRS

Thursday, March 31, 2016

From the IRS.gov Website. Read Original Article >

Did you receive income from a foreign source in 2015? Are you a U.S. citizen or resident who worked abroad last year? If you answered 'yes' to either of those questions, here are eight tips to keep in mind about foreign income: See More

Foreign Assets and U.S. Tax Obligations

Tuesday, May 19, 2015

Do you have foreign assets or foreign earned income? If so, you may have a tax liability to the United States, regardless of whether or not you are a US citizen, a resident alien, maintain dual citizenship, or lived and worked overseas all or part of last year.  See More