Tax Nitty Gritty

college
Aug 26th, 2014

Federal Student Aid – What are the Tax Consequences?

Ed note: There are a lot of benefits to higher education – increased earning potential, expanded knowledge and even tax perks. However, there are also a few tricky situations to keep in mind when you are financing that education. Leer en español. College is expensive.  Did you know that taxpayers with college expenses might be […]

home office
Aug 14th, 2014

What You Need to Know to Claim Home Office Deductions

Ed note: It turns out there are different kinds of home offices. There are those, like mine, that double as a place to binge-watch your favorite Netflix series, and those that are actually a tax deduction in the eyes of the IRS. Leer en español. One the greatest perks to running your own business is […]

capital gains
Jul 24th, 2014

Tax Questions, Answered: Home Sales and Deductions

In our latest installation of this question-and-answer series with The Tax Institute, we look at some of the common questions we get about homes and property. Q: Are homeowner association fees ever deductible? How do you document it if so? A: Homeowners’ association fees paid on your personal residence are not deductible. On a rental […]

abroad
Jul 2nd, 2014

Spouse is a Non-Citizen, Which Filing Status Do We Use?

Ed note: You studied abroad. You took the job of a lifetime in another country. And you fell in love with more than the culture and your surroundings – you found a spouse. We don’t want to ruin your international love story, but things can be tricky at tax time. Here are a few strategies […]

estate tax
Jun 16th, 2014

A Lannister Always Pays His Debts

Ed note: As a Game of Thrones fan, I just… I mean… oh boy. It’s a show that never disappoints, so we will try to follow that example. By now, you will have (hopefully) seen the season finale of this year’s Game of Thrones. If you have not, then I will issue the requisite Spoiler […]

documents
Jun 5th, 2014

Expats: What You May Need to File U.S. Taxes

Ed note: It may come as a surprise to some Americans living abroad that they still need to file a U.S. tax return. That’s right – even if you live in another country, work in another country and don’t have any money invested in U.S. accounts, you will still likely be required to file a […]