Tax Updates
Find below the latest articles on all items related to your (expat) taxes. Enjoy reading!
Second Stimulus Payment Is Coming
Good news! Another stimulus rebate payment is coming! And the question on everyone's mind is, "When will I get my second stimulus check?" The President signed the COVID-related Tax Relief Act of 2020 on December 27, 2020. The new law includes the second round of...
Dutch-American Friendship Treaty (DAFT)
The Dutch-American Friendship Treaty is an agreement between the United States and the Netherlands that allows American entrepreneurs to acquire temporary residency and a work permit in the Netherlands for the purpose of starting a business. The DAFT treaty also...
Foreign Tax Credit and Foreign Earned Income Exclusion
At BNC Tax, one of the most common questions our clients ask us is, “Do I have to pay U.S. taxes if I live abroad?” And the answer is… maybe. A lot of expats ask us about the foreign earned income exclusion, so we will explain everything you need to know in this...
How to Vote in the 2020 United States Presidential Election While Living Abroad
Did you know that you can vote in U.S. elections while living abroad? All you need to do is request an absentee ballot. There is still time to request your ballot before this year’s presidential election on November 3. First Steps - Register to Vote, Update Your...
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Previous articles
Self Employment Compensation Clarification for PPP Loans
The Small Business Association (SBA) has published new guidance about PPP Loan Forgiveness. We have been waiting and watching for guidance and the SBA has slowly been releasing information and regulations. Last week on August 4, the SBA posted a new downloadable PDF...
PPP Loan Forgiveness – How to Apply
Have you received a Paycheck Protection Program (PPP) loan, or are you planning to apply for one? Read on to learn more about PPP loans and how to apply for PPP loan forgiveness. NOTE: There is still time to apply for a PPP loan! The deadline to apply has been...
New Tax Deduction for Charitable Donations in 2020
Taxpayers who do not itemize their deductions can claim as much as $300 in charitable contributions for calendar year 2020, thanks to a temporary change to the tax code. Typically, taxpayers who itemize their deductions on Schedule A of Form 1040 can deduct donations...
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