Thank you so much for putting this video together! Not only is it extremely informative but you have the skill of explaining really complicated matters in layman’s terms. Also thank you for making your service affordable!
@@EverythingPlayaDelCarmencom Thank you so much; we appreciate that! Don't forget that if you have filed with MyExpatTaxes, you have a reward code as well, which means everyone who you share with that files with us receives 20% off, and you gain 20 credits off next year's filing 😉
Great videos and it seems like an amazing product that helps expat Americans. I have not found any information on Retirees with a company pension and or social security. Do you cover any of those incidents in your program or software?
We have a section for entering pension and social security income in MyExpatTaxes! We’ll apply either foreign tax credits or treaty benefits as applicable based on your situation! 😉
Yes, but! www.irs.gov/individuals/international-taxpayers/nonresident-spouse Ending the Choice Once made, the choice to be treated as a U.S. resident for federal income tax and withholding purposes applies to all later years unless suspended (as explained above) or ended in one of the ways shown below: Revocation by either spouse Death of either spouse Legal separation Inadequate records For a more detailed explanation of these items, refer to the section titled "Ending the Choice" in Chapter 1 of Publication 519, U.S. Tax Guide for Aliens. CAUTION! If the choice is ended for any of the reasons listed above, neither spouse can make this choice in any later tax year, even if married to a different individual - it is a once-in-a-lifetime choice.
How to file an Expats, that has self employment income from USA, (He performs all the LLC business operations online inside the USA). Also has income in the foreign country which he lives. Also that person receive income from the foreign country which he lives as a diplomat. What should the taxpayer report?
With MyExpatTaxes it's possible to file self-employment taxes and income from the foreign country you're living in. Just remember that if you are an employee of a US government agency, then that income is not excludable via foreign earned income exclusion. You would report any salaried income as a diplomat, normally as foreign salary or self-employment income, depending on how it is classified.
@@MyExpatTaxes Thank you for your answer, however there are some questions which I would like to get answers in order to purchase your program. 1) A taxpayer that is a US citizen but lives in a foreign country and from that foreign country he do business online in US as a self employed, are these income foreign income or US income.? Is this income eligible for the Foreign Income Exclusion? The same taxpayer also has income from the government where he resides. Because he is also citizen of that country he performs job as a diplomat for the same country where he lives. Does he have to add his self employed income from US, and his income as diplomat from his native country? This total income qualifies for FEIE?
Earned Income like self-employment and salary are sourced where the services are performed. So if performed abroad, foreign, and potentially eligible for FEIE. US government wages though always US sourced, so not eligible for FEIE. @@MrTktoxic
@@MyExpatTaxes thanks again, but I would like to get straight answer to my question which refers to an specific situation. Also if your software cover this kind of situations. 1) A US citizen doing business online from another country into US. All his income for this practice are from US sources. He has an LLC (US company), and file as a self employed. Let's say that this is his only income . Does he have to file as an expats or file his personal income tax in the regular way in the Sch C? Let's also say that this person receives a salary as a diplomat from the government where he moved to (not a US diplomat, not wages paid by US sources). That person is US citizen, but also a citizen of the country where he receives his income as a diplomat. Should report that person in his income tax return this income? Are all his combine income (from self employed income for operations inside US), and his salary (from the government of the country where he moved), subject to the FEIE.? Or just the part which he receives from the foreign country?
If the RRSP plan is employer related, then you cannot exclude it via the Canadian/US Tax Treaty. Normally only Old Age Savings pension income is seen as social security benefits and possibly excluded. In any case Form 8833 is needed to claim treaty benefits, so you basically need to still do a full reporting. Sorry!
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Thank you so much for putting this video together! Not only is it extremely informative but you have the skill of explaining really complicated matters in layman’s terms. Also thank you for making your service affordable!
Thank you so much! We are glad that our videos are able to help so many Americans.
The presenter did a very good job of explaining these things and very honestly. Good Job!
That's the CEO Nathalie Goldstein! We will pass along your kind words!
@@MyExpatTaxes I am surprised this video has not had more views. I will share this in some expat groups because it is helpful info and service.
@@EverythingPlayaDelCarmencom Thank you so much; we appreciate that!
Don't forget that if you have filed with MyExpatTaxes, you have a reward code as well, which means everyone who you share with that files with us receives 20% off, and you gain 20 credits off next year's filing 😉
Hi,
I am a tax preparer for US HNI clients, your lectures gives me more insights on expat taxes. Thanks for your wonderful work.
Im crying of happiness. Thank you!!!!
I feel exactly the same way!!
I’m watching this while I’m filing my taxes. I’m glad there’s a viable alternative to TurboTax.
We couldn't have said it better ourselves ;)
Great videos and it seems like an amazing product that helps expat Americans. I have not found any information on Retirees with a company pension and or social security. Do you cover any of those incidents in your program or software?
We have a section for entering pension and social security income in MyExpatTaxes! We’ll apply either foreign tax credits or treaty benefits as applicable based on your situation! 😉
Hi Quick question is your system allowed e-filing for married filing separately but spouse has no tax payer number.
Yes we do!
Does this apply for Australian expats living in US?
I am married to a non American and we are filing jointly. Can we change this back to married and filing separately?
Yes, but!
www.irs.gov/individuals/international-taxpayers/nonresident-spouse
Ending the Choice
Once made, the choice to be treated as a U.S. resident for federal income tax and withholding purposes applies to all later years unless suspended (as explained above) or ended in one of the ways shown below:
Revocation by either spouse
Death of either spouse
Legal separation
Inadequate records
For a more detailed explanation of these items, refer to the section titled "Ending the Choice" in Chapter 1 of Publication 519, U.S. Tax Guide for Aliens.
CAUTION! If the choice is ended for any of the reasons listed above, neither spouse can make this choice in any later tax year, even if married to a different individual - it is a once-in-a-lifetime choice.
How to file an Expats, that has self employment income from USA, (He performs all the LLC business operations online inside the USA). Also has income in the foreign country which he lives. Also that person receive income from the foreign country which he lives as a diplomat. What should the taxpayer report?
With MyExpatTaxes it's possible to file self-employment taxes and income from the foreign country you're living in. Just remember that if you are an employee of a US government agency, then that income is not excludable via foreign earned income exclusion. You would report any salaried income as a diplomat, normally as foreign salary or self-employment income, depending on how it is classified.
@@MyExpatTaxes
Thank you for your answer, however there are some questions which I would like to get answers in order to purchase your program.
1) A taxpayer that is a US citizen but lives in a foreign country and from that foreign country he do business online in US as a self employed, are these income foreign income or US income.? Is this income eligible for the Foreign Income Exclusion? The same taxpayer also has income from the government where he resides. Because he is also citizen of that country he performs job as a diplomat for the same country where he lives. Does he have to add his self employed income from US, and his income as diplomat from his native country? This total income qualifies for FEIE?
Earned Income like self-employment and salary are sourced where the services are performed. So if performed abroad, foreign, and potentially eligible for FEIE. US government wages though always US sourced, so not eligible for FEIE. @@MrTktoxic
@@MyExpatTaxes thanks again, but I would like to get straight answer to my question which refers to an specific situation. Also if your software cover this kind of situations.
1) A US citizen doing business online from another country into US. All his income for this practice are from US sources. He has an LLC (US company), and file as a self employed. Let's say that this is his only income . Does he have to file as an expats or file his personal income tax in the regular way in the Sch C?
Let's also say that this person receives a salary as a diplomat from the government where he moved to (not a US diplomat, not wages paid by US sources). That person is US citizen, but also a citizen of the country where he receives his income as a diplomat. Should report that person in his income tax return this income? Are all his combine income (from self employed income for operations inside US), and his salary (from the government of the country where he moved), subject to the FEIE.? Or just the part which he receives from the foreign country?
Hi, I am retired now, do I have to file my Canadian registered retirement plan on 1040 or is it possibly reported on line 5a and 0 on line 5b
If the RRSP plan is employer related, then you cannot exclude it via the Canadian/US Tax Treaty.
Normally only Old Age Savings pension income is seen as social security benefits and possibly excluded.
In any case Form 8833 is needed to claim treaty benefits, so you basically need to still do a full reporting.
Sorry!
Where I can get your Expats software? Can I get a demo?
Hi there! You can head to www.myexpattaxes.com and get started for free as a demo.
😢 honestly I never wanted to be a us citizen. Thank you for the informative video on how fucked I am.
Are you an Accidental American? We promise Streamlining isn't scary.
@@MyExpatTaxes American who stopped filing due to a medical.event
marry me already 😊
😂