Friday, November 14, 2014
Friday, June 6, 2014
For the FBAR (foreign bank account report) you must file it by 6/30/14 for 2013 and no extensions are granted. It is now called form 114 and is filed on line at: http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html Be sure to keep your receipt and download a copy of the form (in pdf format) so you have proof of filing. The IRS systems sometimes get mixed up.
See the following link for a comparision of the fees charged by the Mexican banks: http://www.thepaperchase.com.mx/blog/
Sunday, March 16, 2014
Thursday, March 13, 2014
Some states make it difficult for expats abroad to stop paying state taxes. Some of the most expensive states are those ones. See most costly income tax states in article below.
Friday, March 7, 2014
From Forbes ... An excellent article on US taxation of foreign pension plans... Many problems and surprises
Friday, February 28, 2014
Don D Nelsons, Attorney CPA presentation in Ixtapa Mexico
Visit his informative websites full of valuable and informative information at www.TaxMeLess.com and www.expatattorneycpa.com
Friday, February 7, 2014
INTERCAM GRUPO FINANCIERO will Present a Seminar on February 12, 2014 in Puerto Vallarta at the Hotel Marriott Casa Magna featuring Don D. Nelson, US Attorney and CPA. He is a US expatriate and international tax expert who has been assisting Americans in Mexico for over 23 years. The seminar will be at 6pm.
He will speak on:
- IRS filing requirements for reporting Mexican and other foreign financial accounts and how to avoid penalties for failing to file in a timely manner.
- The new form 8938 required to report Mexican and other foreign financial assets
- The new on line filing requirements for FBAR (foreign bank account reporting). Yes you can no longer file on paper.
- IRS Reporting for Mexican Businesses, Corporations, and real estate.
- What to do if you have not been filing your US tax returns or foreign assets reporting forms and how to reduce or avoid the high penalties that may be imposed.
- Current IRS audit procedures and policies for expatriates.
- And he will answer your other questions on US taxation of those who live and work in Mexico
Thursday, January 16, 2014
The states listed in this link are great for expats who do not want to worry about their home state trying to collect income taxes though they live and work abroad. Establishing residency in a tax free syate is good tax planning for expats who live in states with laws that make it difficult to avoid state taxes when an expat,
Tuesday, January 14, 2014
US BANKS MUST REPORT INTEREST EARNED BY NONRESIDENTS TO IRS WHO WILL SEND TO NONRESIDENT'S HOME COUNTRY
Read details of new reporting here. http://mobile.bloomberg.com/news/2014-01-14/u-s-banks-must-report-foreign-clients-interest-judge.html
Wednesday, January 8, 2014
Sunday, January 5, 2014
In June of 2013 the IRS ruled that Fideicomiso property owners no longer had to file forms 3520 and 3520a. It is recommended if you previously filed these forms that you file for 2013 with it marked as FINAL at top and attach a statement referring to the ruling and explaining the forms are no longer required. This will avoid possible letters and fines from IRS when they later find you have not filed the forms!