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Do I Have To File US Tax Return From Abroad?

I am an American citizen who has lived in Mexico for 20 years. An accountant told me that if I spend only 30 days out of the US a year, I don’t have to pay federal income tax. Is this true? If it is, then do I have to file a tax return every year? Tabitha Paddock of Greenback Tax Services answered this question. You are required to file a US ...

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Top Savings Rates For Expats – October

Many expats can benefit from using offshore bank savings accounts. They are useful for working in different currencies and for gathering interest without deduction of taxes. By Iain Yule See the article ‘British Expats – Do You Need An Offshore Bank Account?’.   The best current offering for sterling offshore savers is Standard Bank’s 1.2%, if you have £10,000 and can give 196 days’ notice of with ...

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Get The Facts About Filing Late US Taxes

The June deadline has come and gone, but if you haven’t filed your taxes yet, there’s still time to get caught up and become compliant with the IRS this year. Not sure where to begin? Don’t fret – the information you need to know is right here in this Q&A.   By Greenback Tax I Haven’t Filed Taxes In Multiple Years – What Now? For starters, don’t let yourself worry too much – the IRS isn’t ...

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Sponsored: Why ‘Free’ Advice Costs Much More Than You Think

Were you offered ‘free’ advice by your financial adviser when he or she sold you that investment product, pension or regular savings plan? If the answer is yes, then you have probably been taken for a ride. All advice costs money, and there are two ways you can pay for it: fees or commission. Fees If you pay a fee to your adviser, then the amount of time your adviser spends on the advice given to ...

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Sponsored: Sensible Pension Planning For Expats

Historically, in countries where there is no tax-driven, government-approved pension savings framework (most countries in the Middle East and Africa for example) expat workers have relied on ‘international pension plans’; in reality a marketing name for what is essentially a long term savings plan. By Paul Beard For a long time these were the only vehicles available for expats to invest their mone ...

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Free Healthcare After A Move To Spain?

As a couple we are considering a move to Spain. I am 57 and eight years in from breast cancer, and my husband is 69 with a pacemaker. We are just starting to look and wanted any advice you can give. Andrew Apps of expat financial advisers Bellwood Prestbury answered this question. As an expat, you are currently entitled to free state healthcare if you are: Resident in Spain and work in employment ...

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Currency Changes And The Price Of Property

In global prime property markets even small percentage changes in currency can have significant monetary implications. Currency, ownership costs and taxation are becoming increasingly important considerations for investors, especially as the rate of price appreciation slows in some global city markets. New research by property consultancy Knight Frank suggest that individuals need to be conscious ...

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Sponsored: Protect Your Financial Future

Protect your financial future! The U.S. imposes taxes on the income of its citizens, regardless of where they live. Australia is home to the sixth largest American population in the world, and U.S. expats in Australia experience the financial consequences of U.S. tax compliance more acutely than those in other countries, leading many to renounce their U.S. citizenship.   Considering giving up ...

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Should I Bill Through A Company Or Direct?

I’m working with a German contractor, billing it for my services through my UK limited company. I have heard that after two years contracting by German law they need to employ me direct. Is this correct? Nick Broughton of Capital-GES answered this enquiry.   “If you are working in Germany on a contract for any period of time it’s not legal to use your UK limited company unless it’s registered ...

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Saudi Arabia Collects New Tax On Expats

From July, Saudi Arabia is collecting a new tax from expats and their dependants, a move that is seen to boost the country’s revenues amid weak oil prices. The new fee will be 100 Saudi riyals (SAR) per dependant per month, around £21 or $27. The amount is expected to increase gradually every year until 2020. By next year, the figure will double to SAR200 and increase to SAR300 in 2019 and SAR400 ...

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