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U.S. Tax implications on donations to a Non-Resident-Alien Spouse
Gift Tax might be an important part of a long-term estate planning strategy for many American families, whether they live abroad or not. Here we are only considering the U.S. Tax implications of a donations to a Non-Resident-Alien Spouse. Please, keep in mind that not...
How are cryptocurrencies taxed in Spain and the U.S.?
Remember that if you are a U.S. Person (US Citizens & Green Card Holders) tax resident in Spain, due to the bilateral treaty to avoid double taxation, you must pay taxes in Spain, but that does not exempt you from the obligation to also report it in US Individual...
Modelo 720 and Cryptocurrencies
The Spanish Tax Agency published, last month of July, a new Law to Prevent Fraud, specifically referred to the Cryptocurrencies world. They were supposed to develop the ruling before the end of December and since they do noy have enough time to do it, they have...
Some important things all taxpayers should do before the tax year ends
Some important things all taxpayers should do before the tax year ends The IRS reminds taxpayers there are things they should do before the current tax year ends on Dec.31. Donate to charity Taxpayers may be able to deduct donations to tax-exempt organizations on...
Special IRS Streamlined Procedure / amnesty promotion for non-filers and for clients who refer them: Discount vouchers of €200 and €100
En español a continuación Why are we campaigning to regularize your situation with the IRS as non-filer? In U.S. Tax Consultants have a history of more than 56 years helping expats with their taxes. But in recent years we have found that there are many expats who...
New “CLIENTS AREA” in the U.S. TAX CONSULTANTS
New "Clients Area": all your information at a click. Offering an increasingly complete Clients service is one of the objectives of the U.S. Tax Consultants. Our new "Clients Area" is an important step to offer the most complete and up-to-date information on the...
Inheriting From the U.S. While Living Abroad
What happens if someone in the U.S. dies and leaves me an inheritance while I am living abroad? Will I owe tax in the foreign country where I live? And if so, how do bilateral treaties affect the outcome? This article is for any American abroad who expects an...
The data security of U.S. Tax Consultants’ clients
The data security of U.S. Tax Consultants' clients, personal and financial information is one of our priorities. U.S. Tax Consultants apply the most effective solutions so that our clients' information is protected and safe in the cloud. In this regard, Microsoft...
Are you a US Citizen and never lived, worked, or visited the U.S.?
Does that mean that you still must file taxes? Yes, you do if you’re considered a U.S. Person (US Citizen, Green Card Holders and Resident Aliens). You must file taxes, based on your American Citizenship. You must file your Individual Tax Return annually even if the...
Are you missing your 2019/2020 Tax Refund? You are not the only one.
Delays on processing Individual Tax Returns and Tax Refund from the 2019 and 2020 Tax seasons. According to the IRS report from May 6, on the partial results of the 2021 Filing Season, the Treasury Department still has millions of returns to process. By the end of...
The Inheritance Law in Spain for Expats – Part I (Inheritance distributions – Spanish Civil Code)
If you are Fiscal Resident in Spain, you must comply with the Spanish Inheritance Law and pay taxes in Spain over your worldwide inheritance. Inheritances Inheritances in Spain have two aspects that are ruled by two different laws, the Spanish Civil Code that...
American Expat College Savings and 529 Plans
Funding a college education is a significant expense for many families and is on the rise. For the past 50 years, the cost of tuition in the United States has increased at an average annual rate of almost six percent, nearly twice the pace of inflation. Consequently,...
FBAR – FinCEN 114. Foreign Bank Account Report
A few years ago the Foreign Bank Account Report (FBAR) changed from using the TD F 90-22.1 paper form to the online FinCEN Form 114. It is used to report financial interest in or signature authority over foreign financial accounts and is an information return only, so...
IRS Amnesty – Streamlined Filing Compliance Procedure for delinquent filers
U.S. Persons (U.S. Citizens, Green Card Holders and Resident Aliens) are required to file annually regardless of where their income is earned, where in world they live, whether or not the U.S. has a Tax Treaty with that country and whether or not they also pay Foreign...
ACM Webinar: “All you need to know about the Inhertance Law for Expats Residents in Spain.”
ACM Webinar, May 26th, 2021 at 19:00 “All you need to know about the Inhertance Law for Expats Residents in Spain.” Organized by the American Club of Madrid and Goy GENTILE Abogados The American Club of Madrid will continue this season’s Webinars with a detailed...
IRS is holding millions of tax returns, delaying refunds
By Aimee Picchi - CBS News April 25th The IRS is holding 29 million tax returns for manual processing, delaying tax refunds for many Americans, according to the National Taxpayer Advocate, an independent arm of the tax agency that looks out for consumers' interest....
Modelo 100 IRPF
Spanish Income Tax Return modelo 100 IRPF for residents in Spain and Wealth Tax (Modelo 714) for residents and owners of good or right located in Spain. All Spanish fiscal residents must file Modelo 100 IRPF from April 7 to June 30, as long as his annual earned income...
![The Spanish SL vs. U.S. LLCs from a tax point of view In Spain[1]](https://cdn.ustaxconsultants.es/wp-content/uploads/2019/06/selfemployed.png)
The Spanish SL vs. U.S. LLCs from a tax point of view In Spain[1]
In Spain In Spain (1) an individual can develop an economic activity as self-employed (autónomo). Autónomos must register in the Social Security and must fulfill their tax obligations. The most common form of a Spanish company is (2) the SL Sociedad Limitada, the...
CUSTOMER SATISFACTION SURVEY
Survey conducted from Nov. 18th to Dec. 31st, 2020 March 9th, 2021 15 ASPECTS ANALYZED – 71 PARTICIPATING CLIENTS THREE LEVEL OF RESULTS BREAKDOWN OF EACH CATEGORY 1 Overall satisfaction. 2 Would recommend. 3 Quality. 4 Timing. 5 Fees. 6 Client support....
Webinar “All you need to know about the Recovery Rebate Credit”
How can you receive your “Stimulus checks” with the Recovery Rebate Credit? Haven’t gotten them yet? Are they taxable? Organized by the American Club of Madrid and US Tax Consultants. Registration required: Click here CARES Act and CARES Act II EIP1: Stimulus...
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