US Tax

US and UK tax laws are constantly being updated. We believe that clients should always be aware of changes that may affect them. We have therefore written a number of articles based on current legislation which may be of interest. This information should not be taken as full comprehensive advice and we highly recommend that you contact a PJD tax representative for more information.

What is the FBAR and do I need to file one?

Did you know that US Citizen, or long-term residents, are required to report details about their non-US bank accounts to the IRS? This is subject to certain criteria. Read this article to find out if you should be filing one and please get in touch if you need any more information. 

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Not the “PFIC” solution to your investment choices?

As a US citizen, green card holder, or US resident you are required to report your worldwide income on your US Federal tax return. For Americans living outside of the US, or non-US nationals who have moved into the US, your investment portfolio will most likely include non-US investments. Understanding the US tax treatment of these foreign investments will help you better-structure your investment choices, and limit your exposure to draconian US taxes.

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To Exclude or Not to Exclude

OK, so you are a US person and you live and work outside of the US.  So the IRS allow you to claim a deduction for up to $101,300 of your non US earnings and also a part of your non US housing expenses on your Federal Tax Return, generous aren’t they!  It’s a no brainer?

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