October 15th not enough time to file your taxes? No problem for US expats. Are you a US expat who hasn’t filed their tax return yet? Are you still missing the foreign documents you needed for your US tax return? If the looming October 15th filing deadline is causing you stress, do not panic. You can request two extra months to file. Keep reading to learn how! US federal tax
Tax Reporting
Top Ten Tax Considerations for Swiss Nationals Moving to the USA – Financial Education Video Library
This video and accompanying blog post cover the top tax considerations for Swiss Nationals should consider when moving to the United States. Living in the U.S.A can be exciting, but it also creates a unique set of tax challenges. If you haven’t viewed the introductory video to our financial education library, please take three quick minutes to watch it before you get started with the tax one. It will help
Top Ten Tax Considerations for US Citizens Moving to Switzerland – Financial Education Video Library
This video and accompanying blog post cover the top tax considerations US citizens and green card holders should consider when moving and living in Switzerland. Living in Switzerland can be exciting, but it also creates a unique set of tax challenges that US expats need to be aware of, If you haven’t viewed the introductory video to our financial education library, please take three quick minutes to watch it before
Financial Education Video Library – Introduction
Welcome to the Swiss American Wealth Advisors Financial Education Video Library! This is a free educational resource designed to help individuals and families with US and Swiss ties understand how to navigate their US/Swiss crossborder financial planning needs. What is US/Swiss crossborder financial planning? If you are an individual or family with US and Swiss financial ties, either because you are Swiss living in or relocating to the USA, American living in or relocating to Switzerland, the owner
Top 16 U.S. Expat Tax Myths – Part 2
Creative tax advice from neighbors, friends, and store clerks is not limited to the U.S. Marina Hernandez of Swiss American Wealth Advisors lists and debunks the second half of the top 16 tax myths for Americans living abroad in Part 2 of a two-part article. Creative tax advice from neighbors, friends, and store clerks is not limited to the U.S. For Americans living abroad, tax misinformation tends to thrive in
Top 16 U.S. Expat Tax Myths – Part 1
Creative tax advice from neighbors, friends, and store clerks is not limited to the U.S. Marina Hernandez of Swiss American Wealth Advisors lists and debunks eight of the top 16 tax myths for Americans living abroad in Part 1 of a two-part article. Creative tax advice from neighbors, friends, and store clerks is not limited to the U.S. For Americans living abroad, tax misinformation tends to thrive in online expat
IRS Reporting Relief for U.S. Taxpayers with Certain Foreign Pensions
The IRS released Revenue Procedure 2020-17, which will be published in the Internal Revenue Bulletin on March 16th, 2020 and could have implications for your 2019 tax return. What’s the big deal about this new Rev. Proc? It provides relief to US participants of foreign pensions and other tax favored foreign accounts. This article will focus on the relief on foreign pension reporting, which can be one of the biggest headaches for
I am a beneficiary of a US trust and live in Switzerland. Now what?
You are a US citizen, and you live in Switzerland. You just learned that you have been named beneficiary of a US trust. Congratulations! You are happy to be entitled to trust distributions, but you are also worried about the consequences. What are the US and Swiss implications? You wonder…. Let’s start from the beginning. What is a trust? A trust is a legal vehicle by which a party, the
Do you Have a Foreign Pension? It May be Invested in PFICs
In our blog post IRS Tax Relief for U.S. Taxpayers with Certain Foreign Pensions I wrote: Before anyone goes rushing into investing in a Pillar 3 or other individual foreign pensions, though, one final comment about PFICs. Swiss ETFs or mutual funds, and other foreign investment funds that are the typical investment vehicles used in foreign individual retirement accounts, are generally classified as PFICs for US tax purposes. PFICs are
