Author: J.M Simpson

Inflation costs are global JM Simpson Hong Kong has been ranked as the most expensive city in which to work and live as an expatriate, according to a new report which underscores the impact of rising living costs on the expatriate market. According to Mercer’s 2022 Cost of Living Index, […]

Vital to any business, bookkeeping is the recording of a company’s financial transactions. Timely and accurate bookkeeping provides business owners with reliable performance measures in order to make strategic decisions concerning revenue and income goals, operations, and financial decisions. Clearly, this is important – the quality of bookkeeping can make […]

For those thinking of living outside the United States, consider giving Mexico a look.  With over a million expatriates now living there, it is far and away the most popular destination for North Americans seeking to live abroad. Deciding where to live depends on what one is looking for.  There […]

In considering retirement, the goal is maintain or even increase one’s standard of living.  To do this, here are three lessons to consider. Make A Retirement Plan:  This is a written income plan that includes income and tax planning, social security strategies, and long-term care and estate plans. “Start saving […]

With China’s expatriate community growing due to the nation’s role in the global economy, it might be a good time to examine what expatriate employees should know about China’s individual income tax (IIT) regime. Who Is Taxed? Chinese law states that persons who live on the mainland, or live in […]

Expatriates (or expats) are individuals who live or work in a country other than their nation of citizenship.  When it comes to taxes, American citizens living as expats are required to file a US federal tax return and pay taxes on their income.  Preparing such a tax return is difficult […]

The due date for filing 2021 tax returns is Monday, April 18th.  A day not many Americans look forward to, here are ten facts about taxes that are a bit interesting, somewhat humorous and perhaps relevant. Ancient Greeks Griped About Taxes:  Plato once said, “Where there is an income, the […]

This year especially is not a good time to draw the Internal Revenue Service’s attention. The agency is so understaffed that a mistake on a federal tax return form can delay a refund for months.  This happens because an IRS employee must manually process the return, which only adds to […]

You aren’t alone in paying taxes, but not everyone does. Based on the latest data compiled by the IRS in 2018, what follows are a few facts about your fellow filers. In 2018, 144.3 million Americans reported earning $11.6 trillion in adjusted gross income and paid $1.5 trillion in individual […]