US Taxes For Americans Abroad

Welcome to my US Taxes For Americans Abroad summary!

booboo book rating: ★★★★☆

Mostly an informational manual on the different forms and requirements. It would be good reading for the employees in the author’s firm, but I didn’t get much useful info out of it. You’ll be able to skip some information that is not relevant to you. For me, I skipped over all the renouncing citizenship information. This makes the book a few quick read.

Did you know I’m an author? I wrote four books on real estate investing, travel, and language learning.

There is an interesting real estate tax loophole briefly discussed on page 124 having to do with selling your property to an S Corp that you own in order to exclude $250k via the Home Sale Exclusion. Something to look into further.

A couple other things that I found interesting and needing further research:

  • certain physical assets such as gold bars, antiques, jewelry do not need to be reported on form 8938
  • the following foreign assets do not need to be reported
    • physical gold and precious metals
    • safety deposit boxes at foreign banks and vaults
    • art
    • cars
    • antiques
    • jewelry
    • other collectibles
    • real estate held in your name

You read my book review and summary by Vincenzo Villamena, CPA and John Hamilton, CPA. Be sure to check out my digital bookshelf for 100+ book summaries.

Thanks for visiting and thanks to Vincenzo Villamena, CPA and John Hamilton, CPA for writing US Taxes For Americans Abroad!

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