As a United States citizen, your worldwide income generally is subject to U.S. income tax regardless of where you are living. Also, you are subject to the same income tax return filing requirements that apply to U.S. citizens living in the United States.
However, several income tax benefits might apply if you meet certain requirements while living abroad. You may be able to exclude from your income a limited amount of your foreign earned income. You also may be able either to exclude or to deduct from gross income for allowable housing expenses. In a nutshell, the complexity of your income tax responsibility increases significantly for United States citizens living abroad.
To help U.S. citizens living abroad, we have developed an expertise in international taxation to make the process simpler for you. Within this group, we offer expatriate tax services for citizens living overseas and want to comply with tax laws.
Canner Brody and Yan CPAs is a Miami CPA Accounting firm that has operated for over 65 years. Our international taxation compliance expertise has exploded over the decades as South Florida has become a hub for multinationals.
To learn more, call our Managing Partner, Andrew Brody, at 305-728-5109. We have offices in Miami on Brickell Avenue and Miami Lakes.