International Tax & Business Guide 2016: Expert Legal Guide for American's Living, Working, Investing and Doing Business Abroad

120 page international tax and business guide for Americans living, working and investing abroad. This is the 7th edition of our best selling offshore tax and business guide, updated for 2016.

The objectives of this international tax guide are to:

1) give you the tools to maximize profits and minimize taxes while working and living abroad,

2) provide a road map to the U.S. forms and reporting requirements, and

3) to point out the landmines of international taxation – costs and risks of failing to keep up with tax compliance.

Armed with this guide, you will be able to structure your business and plan your life abroad to your advantage… and those advantages can be significant. For example, a business owner may be able to reduce or completely eliminate U.S. income tax on his ordinary income while taking a salary tax free from an offshore active business of up to $101,300 for 2016. This means no Federal income taxes, no State income taxes, and no employment taxes (payroll, FICA, etc., which add up to 15% in the U.S.).

Table of Contents:

Introduction

The Rules for Americans Overseas

Foreign Income Must Be Reported

Tax Advantages for Americans Overseas

Foreign Earned Income Exclusion
Housing exclusion or deduction
What exclusion will I take?
Form 2555 or Form 2555EZ?
Married couples claiming exclusions
Waiver of time requirements
Exclusion of employer-provided meals and lodging
Withholding income tax and social security tax
Withholding from pension payments
U.S. Social Security taxes

Credits and Deductions on Foreign Income Taxes
Claiming a Deduction for Relocation Expenses

Avoiding Double Taxation
Double Taxation Treaties

Foreign Bank Accounts Must be Reported

Filing Deadlines, Extensions, and Penalties
Automatic two-month extension for Americans overseas
What to do if you need more time
Time to pay tax due on a return
Where to file
Electronic filing is the way to go
Foreign post marks and electronic filing
Interest and penalties

U.S. State Taxation of Foreign Income
Different states…different rules
What if I don’t know which U.S. state I will return to?

Currency Issues with the FEIE

Expatriation – The Final Solution

Second Citizenship and Passports

Taxation of Foreign Real Estate Investments
U.S. Tax Breaks for Offshore Real Estate

Tax Deals Only Available in Puerto Rico

U.S. Tax for Business Owners & Self Employed
Employees
Self-Employed

Tax Benefits of Incorporating Offshore
Where to Incorporate
Shelf Companies
International Foundations
Offshore Corporation or LLC?
Risks of Offshore Corporations
Offshore Merchant Accounts
Offshore Corporate Filing Requirements
International Bank and Brokerage Accounts
Corporate and Trust Filing Requirements

How Careful Structuring of Your Affairs Can Help Minimize Taxes
Multiple Bank Accounts
Transfer Title of Accounts to One Spouse
Form a Discretionary Trust
Estate Planning

2016 IRS Offshore Voluntary Disclosure Program
Options for US taxpayers with Undisclosed Accounts
Offshore Voluntary Disclosure Program (OVDP)
Streamlined Filing Compliance Procedures
Streamlined Procedures for U.S. Taxpayers Residing Outside the United States
Streamlined Procedures for U.S. Taxpayers Residing In the United States
Delinquent FBAR Submission Procedures
Delinquent International Information Return Submission Procedures
Transitional Rules

Dealing with the IRS
Step One: Know your risks
Step Two: Negotiate
Offer in Compromise
Installment Agreement
How to Avoid an Audit, Expat Edition
When do I need help?
Taxpayer’s Bill of Rights

Contact Us