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Expat Network Newsletter – February 2022

Welcome to Expat Network’s February newsletter.

With US Tax deadlines approaching we have a special feature on US expat tax with a webinar from H&R Block on getting and staying in compliance. We also have articles on the things you need to know about filing your taxes in 2022, how to avoid tax penalties, tax benefits and credits available to US expats and the child tax credit.

Recordings of Expat Network’s Finance For Expats webinar series are available for anyone who missed any of the webinars.

Currency Index give their update on the foreign currency markets.

For those looking to move to work abroad we have an article disclosing the countries with the best tax law for freelancers, how your Linkedin profile picture can help you land a job and six secrets to managing your expat career. We also have an article setting out reasons to consider living and working in Saudi Arabia.

For those planning to invest in property we have two articles that are positive about the European property market and another about the UK property market. We also have answers to frequently asked questions for those who need a mortgage to buy property in Spain or Portugal, the most popular destinations in Europe.

U.S. Taxes For Expats Webinar

The next webinar in the Finance For Expats series is directed at US expats abroad. This webinar will help expats to get up to speed on the U.S. tax filing requirements for U.S. expats. It aims to help you to understand your filing requirements, deadlines, forms, tax credits specific to Americans abroad, and what to do if you need to get caught up on multiple years of back taxes. Use this link to find out more and register for the webinar:

• U.S. Taxes for Expats - Getting and Staying in Compliance – H&R Block on 2nd March 2022 at 2pm (GMT)/9am (EST)

U.S. Expat Tax Filing In 2022 – What You Need To Know

Tax season is here once again, and if you’re a U.S. citizen residing outside of the United States, you may not have to pay a tax bill when you file your taxes, but you still have to file. In this article, we’ll look at what’s going to be new for U.S. expat tax filing in 2022.

What U.S. Expats Should Know To Avoid Thousands In IRS Tax Penalties

It’s that time of year again—are you ready to file your U.S. tax return? Filing while stateside can be complex enough, and expats have a few extra layers of complications added. In this article we’ll dive into the IRS tax penalties common to U.S. expats, and tips to avoid them this year and in future years.

Tax Benefits For U.S. Expats Abroad

Are you ready to file your U.S. tax return? In this article we’ll dive into the tax benefits and credits available to U.S. expats, to help you make sure you’re getting every deduction and credit you deserve.

Living and working abroad can bring on more than a few headaches when it’s time for file your U.S. taxes. For example, what if you don’t have a W-2? What if you’ve already paid taxes to your current country? Luckily for you, the U.S. has a few benefits and treaties to help prevent double-taxation and lower the tax burden on U.S. citizens living abroad.

The Child Tax Credit For Expats

The Child Tax Credit is a significant tax benefit available for American families with children, and in many cases US expat parents living and residing outside of the US can take advantage of the credit, even if their US tax liability is zero.

However, US expats with children should be aware that the US federal tax rules which commonly impact expats may limit the amount of Child Tax Credit they can qualify for, and in some cases, make them ineligible to receive a portion of it. This article will explain when and how US expats with children can qualify for the Child Tax Credit.

contact us at j.trulock@ustaxfs.com

Finance For Expats Webinar Series

Recordings of the Expat Network’s webinar series, Finance For Expats, are available to view if you missed them or want to watch them again:

• Effective Wealth Management As An Expat – Holborn Assets

• Spain's Golden Visa - Investing in Property To Gain Residence Rights in Spain – Rebecca Lino and TBB Realestate

• Investing in UK Property for Expats - Holborn Assets

• Retiring to Europe - Blevins Franks

• Portugal's Non Habitual Residence Scheme - Low and zero tax options for investment and pension income - Blevins Franks and Property Finder Portugal

• Financial Planning For British Expats in the US - Alexander Beard

• Financial Planning For US Expats Living Outside The US - Alexander Beard

Follow this link to register to watch the upcoming webinar live or to watch the recordings of past webinars.

Euro Gains Ground On Interest Rise Expectation

Currency Index give their monthly update on the forex markets with news that after strength in the US dollar the Euro has gained ground following ECB policy announcements indicating a possible interest rate rise. Sterling potentially impacted by political uncertainty.

Countries With The Best Tax Law For Freelancers

How would you like to wake up every morning and let your eyes feast on a view that doesn’t include glass and concrete buildings? Maybe you want to admire the ocean or you’re more into a mountain view, with beautiful valleys and snowy mountains somewhere in the background.

This is one of the perks of being a freelancer in today’s day and age. Overall, if you’re OK with a slightly nomadic lifestyle and have a zest for traveling and discovering new cultures, life as a freelancer can be a true godsend!

Linkedin Profile Picture May Land You A Job

According to scientists, a person starts to form impressions after seeing someone’s face for less than one-tenth of a second. So whether we like it or not – we all tend to judge books by their cover. Indeed, 71% of recruiters report they rejected a candidate based on their LinkedIn profile picture at least once. It’s a lot! And it gives food for thought. Why is this such an important factor? What makes our profile picture be-all and end-all? Are there some “do’s” and “don’ts” to ensure it’s most effective?

How To Advance: 6 Secrets To Managing Your Expat Career

As an expat, your decisions can strongly impact your lifestyle and comfort, so take care with some of your choices while living in another man’s land. The very day you decide to seek greener pastures overseas is when you should decide how to live fully as a worker and manage your expat career.

Reasons To Consider Living And Working In Saudi Arabia

In many ways, Saudi Arabia may appear to be a perplexing country. Traditional but contemporary. Friendly, yet on a safe distance. However, the kingdom has gone through many transformations over the last few years. Societal standards are constantly changing, as are the rules of behavior. This is why the number of expats moving to Saudi Arabia to pursue a better life with fulfilling careers has steadily been increasing.

British Property Buyers Return To Europe After Brexit And Covid-19

A recent survey by Property Guides looked at whether British property buyers had been put off their plans to buy abroad by Brexit and Covid. The results show that the vast majority of them still planned to proceed with their purchase.

European House Buying Shows No Sign Of Slowing Down

New data released today from overseas property portal, Kyero.com, shows a steady rise in interest in European house buying in the 12 months since Brexit. Kyero, which has over 820,000 European properties listed on its site, making it the largest overseas property portal in the UK, saw a 45% increase in visitors searching for property in 2021 compared to 2020.

Spanish and Portuguese Mortgages – Frequently Asked Questions Answered

Spanish and Portuguese mortgages follow different rules to those you may be used to in the UK or in the US. Here Mortgage Direct, a leading mortgage broker in Spain and Portugal, provide answers to the frequently asked questions from expats looking to take out a mortgage in those countries:

• Spanish Mortgages – Frequently Asked Questions Answered

• Portuguese Mortgages – Frequently Asked Questions Answered

Recovery And Strength In The UK Housing Market For 2022

2022 was welcomed with a surge in interest, as UK homeowners listed their houses for sale, creating a healthy and strong foundation for the 2022 mortgage market. According to Rightmove, the 30th of December 2021 was one of the most popular days for prospective sellers seeking house valuations. Traffic on the application website has only been higher a maximum of nine times, according to Rightmove.

Internet Security: What Is It and How Expats Can Protect Themselves Online

In this digital era, reliance on the internet is increasing. The internet is becoming almost a necessity as people use it daily for work and personal tasks such as banking, shopping, communication, entertainment and more. Devices and gadgets are increasingly becoming smart using technology to connect over the internet. Internet security is key.

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