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Where’s my refund? How do I calculate foreign tax credits?

Where’s my refund? How do I calculate foreign tax credits?

by Marina Hernandez | May 22, 2021 | Foreign Tax Credits, Tax Planning

In this post, we´re going to discuss how to find out the status of your 2020 tax refund and review Part 2 of foreign tax credit calculations. Last Friday, May 17 was Tax Day, and you either filed your tax return, or you filed a request for an extension of time to file...
Making sense of foreign tax credit baskets without becoming a basket case

Making sense of foreign tax credit baskets without becoming a basket case

by Marina Hernandez | Apr 24, 2021 | Foreign Tax Credit, Tax Planning

In the last post, we start talking about Foreign Tax Credits. In this post, we will talk about how they need to be broken down into their different basket categories before they can be applied against US income tax to avoid double taxation. Foreign Tax Credits (FTCs)...
New Expanded Child Tax Credit and Speaking of credits: Foreign Tax Credit!

New Expanded Child Tax Credit and Speaking of credits: Foreign Tax Credit!

by Marina Hernandez | Apr 11, 2021 | Child Tax Credit, Foreign Tax Credit, Tax Planning

This week we´re going to talk about Child Tax Credit and Foreign Tax Credit. One of the most difficult topics of financial literacy is understanding tax matters. Let’s try to grow our knowledge about taxes in this post by learning about two important subjects: The...
The Foreign Earned Income Exclusion and the Pandemic

The Foreign Earned Income Exclusion and the Pandemic

by Marina Hernandez | Feb 26, 2021 | Foreign Earned Income Exclusion, Tax Planning

As promised, this week we are going to discuss the Foreign Earned Income Exclusion, or FEIE for short. Since I expect many of you to already be familiar with the FEIE, and for those of you living in the USA it is not currently relevant, we are going to do this via...
Top 20 US Tax Myths and Why They Are Wrong

Top 20 US Tax Myths and Why They Are Wrong

by Marina Hernandez | Feb 18, 2021 | Tax Myths, Tax Planning

Today I came across an excellent post by a tax attorney who writes for Bloomberg Tax, and I just had to share it with you. It was written by Tax Lady and attorney Kelly Phillips Erb of Bloomberg Tax. Kelly writes about the most common tax myths in the US tax world,...
Financial Fitness for 2021 – Your Questions Answered

Financial Fitness for 2021 – Your Questions Answered

by Marina Hernandez | Feb 10, 2021 | Tax Planning

As promised last week and on January 28th to the attendees of the Financial Fitness for the New Year Webinar, we are going to provide written answers to the questions we were unable to cover in enough detail after the event. We will answer 10 of those questions in...
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Recent Posts

  • Where’s my refund? How do I calculate foreign tax credits?
  • Oh no, my SSN was already used by someone else on a tax return! What should I do?
  • Making sense of foreign tax credit baskets without becoming a basket case
  • New Expanded Child Tax Credit and Speaking of credits: Foreign Tax Credit!
  • ARPA and Foreign Earned Income Exclusion 2020 Tax Return Considerations

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