ExPat Tax Preparation

Plano Tax Prep is a progressive tax consultation and preparation firm embracing internet technology to provide worldwide tax service from offices in Plano, TX. A secure online Client Portal allows remote taxpayers to exchange financial information, tax documents and tax returns saving valuable time and resources. Give us a call or you can scan or fax your tax stuff at your leisure! In person appointments are certainly challenging, so if requested we can set up a Skype meeting.

Foreign Earned Income Exclusion

There are several small hoops and gotchas that you need to be careful with, but the big requirements are-

  • a. United States citizen who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year. Or,
  • b. United States citizen or resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months. Or,
  • c. United States resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect and who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year.

You must satisfy all three parts above (1, 2 and 3). If you are married to another foreign income earner, you both do not have to meet the same test of a b or c above. You could be a resident while your spouse qualifies as physically present.

Some people are simply not eligible for the foreign income exclusion. For example, US government employees paid by the US government cannot claim the exclusion. There are handful of other ineligible taxpayers based on their association with the US government, armed services and the like.

Most expats can expect to pay between $400 to $500, and this includes your physical presence or bona fide residency tests to compute your foreign earned income exclusion. We also determine your foreign housing allowance or exclusion.

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This Firm Is Not A CPA Firm. Our Accountants on Staff are Licensed CPA's in Texas