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It's that time of year again - Filing your taxes

As every year, with the end of the year comes the need to file your US taxes, and potentially also taxes of the country you're residing in. While typically taxes are due on April 15th for US citizens, expats get an automatic extension till June 15th (although payment is still due on the 15th of April). As a US person living abroad, you also have the option to file Form 4868 and get another extension until October 15th. You can either prepare your taxes yourself, e.g. by using a software such as Turbotax, or you can get assistance by a tax accountant who can guide you through the process and can provide more insight on more complex tax situations.


Throughout the year, you probably had a number of expenses that can be deducted in your tax declaration. Make sure to collect supporting documents, such as invoices for medical expenses, statements showing the interest paid on mortgages, and payment of state or local taxes and real estate taxes, as well as contributions to an Individual Retirement Arrangement (IRA) or any other pension plan. Make sure to bring these to your appointment with a tax consultant or have them available when you're doing your taxes yourself, to enter relevant values into your declaration.


One of the documents you will need is Form 1099 which lists any income that you have received from your investment account. This can include dividends, interest payment or capital gains. Form 1099s are issued by the institution holding your investment account and should be provided to you by January 31st. The forms are either sent to you by post or you can access them through your custodian's website.


Please note that if you transferred an investment account throughout the year, you may receive tax documents from your previous custodian as well.


If you're looking for a tax professional who can help with your US taxes, check out ACA's Tax Preparer Directory or the US Expat Directory.



DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN.



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