Avoid Pitfalls When Working with Expatriate Taxation Issues
Qualifying U.S. citizens and residents working outside the U.S. may exclude a portion of their foreign earned income under Code Sec. 911. In addition, these individuals may elect to exclude a housing cost amount from taxable income. However, tax advisors should carefully evaluate potential tax benefits derived from electing the foreign earned income and housing cost exclusions. Advisors must consider the initial election and analyze the realistic outcomes or possibilities of utilizing excess foreign tax credits.
Working abroad triggers other income tax-related issues, including travel and moving expenses, itemized deductions and tax treaty requirements. Applying U.S. and foreign Social Security rules is particularly complex, especially with respect to totalization agreements.
Join experienced practitioner Marc J. Strohl, CPA, as he explores the difficulties arising from tax preparation for Americans working abroad that often challenge even experienced tax professionals. During the program, time will be provided to ask questions directly to Mr. Strohl.
As our “thank you for attending” gift, firms registered for this webinar will receive a complimentary issue of Wolters Kluwer’s International Tax Journal in electronic format.
Who Should AttendTax and accounting professionals who work with expatriates and their employers on income taxation issues and return preparation
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program PrerequisitesBasic understanding of federal income taxation concepts