Tips for Clients Moving Overseas

U.S. citizens living overseas must still file federal tax returns if they meet IRS filing requirements, according to the Huffington Post.

1. File your return on time.

2. Learn to save on your taxes.

3. File the FBAR if you have $10,000 or more in foreign financial accounts.

4. Have a foreign pension plan, foreign investment account, foreign trust etc? You need to file this.

5. Know the rules of your state.

6. Keep your health insurance.

7. Report your rental income.

8. Keep your social security income.

For more information contact Neikirk, Mahoney and Smith at 502-896-2999