Our member Alecia Caine, is a US CPA and lives part time in Palm Desert, California and part time in Guardia Sanframondi in Campania, Italy. She will focus her posts on US tax requirement for Americans living abroad, including filing requirements, the Foreign Earned Income Exclusion, Foreign Tax Credit and FBAR.
Today, she will
explain some of the filing requirements for Americans living and earning
abroad. Here is a link to the IRS with more information. https://www.irs.gov/…/us-citizens-and-resident-aliens-abroa…
Basically if you earn more than the standard deduction for your filing
status, you must file a US tax return and report your Worldwide income.
However, if you run a freelance business and report your income on a
Schedule C for sole proprietorships you will need to file a tax return
if your net earnings from self-employment exceed $400. Meaning income
less expenses exceeds $400.
Here is a link to an IRS tool to help you figure out of you must file a tax return. https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return.
https://www.irs.gov/filing for information on how to file.
One Thing I would strongly advise: When you have basic tax questions, check the IRS.gov
website for the answer. The site is easy to navigate, and it is the
authority on taxes. Don’t listen to other people who have an opinion, or
blogs and articles found online. Some situations do require the advice
of a professional, but many questions can be answered from the Internal
If you would like to contact Alecia, please send her an email email@example.com