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Foreign Earned Income: Form 2555 Exclusion Reporting and Other Tax Issues for Expat Workers (Completed)

2 CPE Credits $39.50/credit hour Thursday, December 7, 2017 · 9:00am PT / 12:00pm ET
4.7 (54 ratings)
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 Attend
Tax and accounting professionals who work with expatriates and their employers on income taxation issues and return preparation

Topics Covered

  • Understanding the foreign earned income exclusion
  • Complying with requirements for housing cost exclusions
  • Planning with foreign tax credits
  • Making sense of complex tax treaties
  • Comprehending Social Security totalization agreements

Learning Objectives

  • Describe income tax reporting and planning issues relating to Americans working abroad, from both the employee's and employer's perspectives
  • Guide clients in complying with requirements for housing cost exclusions
  • Perform tax planning with foreign tax credits
  • Handle Social Security totalization agreements

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of federal income taxation concepts

Advance Preparation
None

Instructor

Marc J Strohl

Marc Strohl is a founding Principal at Protax Consulting Services Inc., established in 2001. He was previously with Deloitte & Touche LLP, PricewaterhouseCoopers, and Ernst & Young LLP.

He has more than 20 years of extensive experience specializing in international U.S. individual income taxation issues, as related to individual U.S. expatriates and nonresident aliens or foreign nationals serving individual clients as well as the employees of employer-sponsored programs of multinational public, non-profit companies and professional firms.

Marc is multi state licensed CPA and is a member of the AICPA and NYSSCPA including their International Taxation and Taxation of Individuals Committees. He is a regular contributor to the NYSSCPA’s “The Trusted Professional” and blog publications and is featured internationally including in the critically acclaimed Thomson Reuters’ twice-monthly newsletter publication Practical International Tax Strategies now called Journal of International Taxation and Practical Tax Strategies.

Marc’s concise and informative, industry benchmark authoritative executive summary tax articles regarding U.S. Expatriate and Foreign National-Nonresident and/ or Resident Aliens tax are world renown and standard issue at the big 4 to staff and clients.

In addition to being a regular speaker at the NYSSCPA - FAE Technical Sessions and Committee Conferences, Marc is a frequent external speaker on U.S. international individual taxation matters and featured faculty at various CPE vendors and Strafford Publications providing online C.P.E. and C.L.E. education courses to CPA's and Attorney's worldwide.

He earned a Master's degree in Public Accountancy from McGill University, Montreal, Canada and a Bachelor of Science Honoring in Chemistry.
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