Summer 2017 No Images? Click here 2016 Deadline Soon - October 16!If you still haven't filed your tax return or FBAR, the time is NOW!OCTOBER 16 FILING DEADLINENEED ASSISTANCE ?Need to Still File for Tax Year 2016?The final deadline is approaching – October 16! If you owe taxes, you will most likely pay interest and penalties on the tax owed. But it is best to file as soon as possible to avoid having these fees escalate further. If you feel you do not owe taxes, then it is time to file without further procrastination…. especially if you are going to receive a refund. Child Tax Credit - Are you eligible for that "free money"? Are you an expat working abroad? You have dependents under 17 years old and U.S. citizens? You can get a refund from the IRS of approximately up to $1,000 for each child by taking the Foreign Tax Credit and not the Foreign Earned Income Exclusion. Contact us today to find out more or if you have questions, info@mirtaxes.com
* FBAR DUE DATE - FINAL - NO FURTHER EXTENSIONS * OCTOBER 16Informative articles covering various tax issues below. For additional articles that could possibly help you .... click here!What information would you like to see in the future newsletters? Click on the button below or click on here for the link.... GIFT, ESTATE & INHERITANCE TAXESEstate and Gift Taxes Exclusion Threshold For 2016, the estate and gift tax exemption is $5.45 million per individual, up from $5.43 million in 2015. That means an individual can leave $5.45 million to heirs and pay no federal estate or gift tax. The annual gift exclusion remains the same at $14,000. The federal estate and gift tax exemptions rise with inflation. Gift Tax (For the rest of the article.... click here ) EDUCATION EXPENSES TAX BENEFITS - TAX CREDITS OR DEDUCTIONSEDUCATION TAX CREDITS While preparing for college, students and parents budget the costs including tuition, fees, supplies and room and board. However, there are tax benefits connected with a college education which includes several education tax credits and/or deductions. Credits vs. Deductions A tax credit lowers a tax liability, while a tax deduction lowers the amount of income of ..... (see rest of article) WHAT CAN YOU DO BETWEEN NOW AND TAX TIME?As we are approaching the end of the year, tax time will creep upon us without notice and time to get prepared. Here are three tips to assist the burden at tax time if you are a U.S. employee: Carl MirUS Taxes, Consulting & Expat Financial ServicesMir Enterprises US, LLC (www.mirtaxes.com)Email: info@mirtaxes.comConvert Money – Efficiently & WiselyMany people need to convert their local currency into a foreign currency from euros to dollars or to sterling pounds or to dirham, etc. …. There are various reasons to convert currency which can include traveling expenses, payment of debt in another country or to send money to relatives. However, performing these transaction at a bank could be quite costly. There are options which are more economical. One of these options is transferring and purchase through Moneycorp. In addition to the services we can offer, please see details below of our foreign exchange partner, Moneycorp. Moneycorp have been in business since 1979 in the UK and now transact over £22bn a year for 2.4 million individuals. The two main benefits of the service are improved exchange rates, often saving up to 4% versus the banks and expert guidance that ensure transfers are made at the optimum time. Christelle Colairo is my dedicated account manager and is on hand to answer any questions. Please feel free to contact Christelle on + 44 203 823 0210 or email at christelle.colairo@moneycorp.com. Stay tune for Tax Deadlines Calendar Tax Year 2017 and Tax Updates for 2017Will the current Congress and President enact any tax changes before December 31? Watch out for our Newsletter in January 2018 for highlights of the changes, if any! Our Partners:Stay tuned for future dates of tax seminars to be held! |