Monthly Archives: January 2016

Puncturing 7 Common Myths about U.S. Expat Tax Rules

Myth #1: Individuals living outside of the U.S. and filing tax returns with a foreign government don’t have to file annual U.S. tax returns. 

Myth #2: Expats only need to report their U.S. income on their U.S. tax return.

Myth #3: If their foreign income is below the Foreign Earned Income Exclusion (FEIE), expats don’t need to file a U.S. tax return.

Myth #4: Work performed by an expat within the U.S. but paid by an expat’s foreign employer is foreign income because it’s paid by the foreign employer and not issued on a W-2.

Myth #5: Expats’ non-U.S.-based pension plans have the same tax treatment in the U.S. as they do in their country of residence.

Myth #6: When expats receive certain items of income, they’re only taxable in their country of residence under the rules provided for in the income tax treaty the foreign country has with the U.S.

Myth #7: An expat’s foreign investments are treated the same as they are in the foreign country.

How to Breeze Through Airport Immigration Like a Diplomat

APEC Business Travel Card Facts:

  • Prerequisite: Already enrolled in a U.S. government “trusted traveler program” such as Global Entry.
  • Cost $70, not including $100 cost for Global Entry membership
  • Places that accept the card: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Singapore, Taiwan, Thailand, U.S., Vietnam
  • Where to apply: https://goes-app.cbp.dhs.gov. Must conduct in-person interview. Currently only available in the U.S. and Singapore.
  • Exclusions: News correspondents, athletes, entertainers. Can’t be used on vacation

Looking for a 2016 vacation? Here are 16 must-see destinations

Look who made the list!

Myanmarshwedagon pagoda

The allure of its culture and scenery has never been in doubt. And now, after decades as an outcast nation controlled by the military, it’s edging toward the mainstream. Myanmar’s largest city, Yangon, is full of faded grandeur that will remind some people of an Asian Havana. The Shwedagon Pagoda is a 335-foot golden spire (crowned with diamonds, rubies and sapphires), the nation’s most revered Buddhist site. The plains of Bagan, along the Irrawaddy River, are dotted with hundreds of 11th to 13th century temples (and popular with balloonists). Irrawaddy cruises between Mandalay and Bagan are offered by Avalon Waterways, Belmond, Viking River Cruises and others. Lodging can be buggy and rustic, and infrastructure is shaky, but change is coming: Hilton opened hotels at Nay Pyi Taw, the capital, and Ngapali in 2014, with others to follow at Bagan, Inle Lake and Mandalay in 2017.