US tax preparation for Americans in Saudi Arabia

If you are a US beneficiary of a trust – especially a foreign trust – and you receive a distribution that includes income accumulated over prior years, the IRS may tax you as if that income had been paid out in the years it was earned. That is the core idea behind the throwback tax. This article walks through the federal rul...

Quick answer: QBAI – qualified business asset investment – is the average adjusted basis of depreciable tangible property that a controlled foreign corporation uses in its trade or business, measured under the Alternative Depreciation System. QBAI determines how much of a CFC’s income is shielded from ...

World Bank salaries paid to non-US-citizen employees are generally exempt from host-country income tax under the IBRD Articles of Agreement. US citizens and green card holders face different rules – and those rules diverge from each other in ways that catch many employees off guard. This article covers who qualifies for the exempt...

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An expat financial advisor specializes in the intersection of US tax law, foreign investment rules, and cross-border wealth management that standard domestic advisors are not equipped to handle. If you earn income abroad, hold foreign accounts, or invest through non-US institutions, you need a financial advisor who understands citizensh...

Quick answer: If you physically transport, mail, or ship more than $10,000 in currency or monetary instruments into or out of the United States, you must file FinCEN Form 105 – formally called the Report of International Transportation of Currency or Monetary Instruments, or CMIR. The requirement applies at the ti...