Owning Real Estate while Living Abroad

Many U.S. Citizens are aware of the $250,000 ($500,000 if married filing jointly) exclusion on the gain from a sale of a home in a qualifying transaction. The following general requirements must be met to qualify for the exclusion: You must have owned and occupied the home as a principal residence for at least two out of five years prior […]

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Wages vs Self-Employed

The IRS and U.S. foreign nationals living and working abroad Just because you are a U.S. citizens living and working abroad does not mean that you don’t have to report your yearly earnings to the IRS. However, if you pass two tests and qualify for the “foreign earned income exclusion,” you don’t owe any tax unless you made more than […]

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