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The Streamlined Foreign Offshore Procedures program can get you back into IRS compliance. Let’s just state it very plainly, any honest and well-meaning person can be faced with an IRS non-compliance issue. The Internal Revenue Code can be confusing for the most seasoned professionals, let alone the average person who is just trying to make it in the world. We must eliminate the shame and fright that we all feel when we receive a dreaded IRS notice or letter. No matter who you

If you have an ownership interest in a foreign corporation you should be aware of the IRS Form 5471. You wake up to tropical bird songs, slip on your sandals, step outside, and deeply inhale the freshest air that your lungs have ever experienced. After years of hard work and sacrifice, you have finally begun to live out your dream of starting a new life in paradise. As part of your new life, you naturally want to start a business to contribute to the local economy and support

The sometime intoxicating euphoria of starting a new life in a foreign country can cause many people to neglect the many financial adjustments that are necessary to maintain their new lifestyle. Among the biggest adjustments is how you pay for goods and services. If you have lived in Africa, Asia, or other developing and middle-income countries you should be very familiar with using mobile money platforms such as MPESA, Airtel, MTN and Vodacom. Primarily due to the inconvenie

Let’s be honest, costs across-the-board are increasing for American citizens, and making ends meet is getting tougher for people. The impact of these ever-rising costs is having the greatest impact on working and middle-class Americans. For generations, education has proven to be the best pathway to opens doors that may have previously been closed to people and to improve one’s economic status. Unfortunately, it is also true that this phenomenal opportunity that has lifted mi

The Foreign Earned Income Exclusion (FEIE) is one of the most well-known and most utilized tax instruments for U.S. expats. Although it is true that the FEIE is an incredible tool and should be used as often as permissible, it must be emphasized that it is only one of several available to expats. The lack of knowledge of the resources available to expat taxpayers often results in them ‘leaving their own money on another table’. In this article, we will specifically focus

Where you are physically present while earning income is a primary factor in determining whether it was foreign earned. As national borders become less of a barrier for people to work and reside in foreign countries, doing business right way and ensuring that taxes obligations are properly managed is now a necessity. The rise of international travel, and the opportunity to become a digital nomad, international employee, or to retire abroad are now a huge desire for many peopl