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Palazzo Blog

Want to work overseas? Protect your paycheck from Uncle Sam

A number of decisions go into choosing a career path, especially if you want to work overseas for a private organization.  Sometimes, even the best assumptions of an expat life don’t materialize.  Your money, however, is a cut and dried situation, and before you go toodling off to Timbuktoo, you’d […]

How to Avoid an Audit

Whenever a letter arrives from the IRS what goes through your mind first?  Audit, right?  No one wants to see that request for documents. According to a recent CNBC story, The IRS closed over 450,000 individual audits in Fiscal 2020, roughly .29% of those filing.  Your best bet, therefore is […]

For American Taxpayers Living Abroad: What To Look For In An Expat Tax Preparer

If you are an American expatriate outside of the US, you must file your taxes every year. The process may seem very overwhelming at first, but there’s good news! First, you don’t have to do it alone. Many tax preparers stateside specialize in helping expats like yourself with their tax […]

When It’s Time To Hire A Bookkeeper, Here’s What To Expect

No matter how large or small your company is, it is vital to manage its financial transactions. While managing your business’s income and expenses on your own may sound easy, some business owners make the mistake of thinking they can get away with do-it-yourself bookkeeping for the foreseeable future. The […]

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Should you opt-out of the Advanced Child Tax Credit? Deadline Monday, June 28!

The IRS recently sent out a letter notifying you of how these advance child tax credit payments work.  They also advised you at the bottom of the letter on how to opt-out of this program for those who would prefer to receive a larger refund (or lower tax liability) with […]

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New Considerations For Your 2020 Tax Filing

When you get ready to file your federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund you may receive. Do any of these apply to you? Recovery rebate […]

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Back To School Tax-Saving Tips

As we all prepare for a new and interesting school year, here are some simple actions you can take to ensure you are maximizing savings opportunities on your 2020 tax return. Childcare Payments Hold on to your receipts! The CARES Act has provided several provisions to how taxes have been […]

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Important Tax Filing Updates Due To Covid-19

The IRS has extended the filing deadline and federal tax payments regardless of the amount owed in response to the COVID-19 outbreak. The tax filing due date has been automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April […]

7 ways to reduce tax liability

7 Ways To Reduce Tax Liability While Living Abroad

If you’re an American citizen enjoying a life overseas, exploring the pros and cons of filing taxes may be last on your list. Nevertheless, taxes for US expats has become an increasingly hot topic and one that should not be ignored. Here are some important tips to consider that may […]

top tax prep requirements

Top Tax Prep Requirements for US Expats Living Abroad

As experienced experts in tax preparation for US expats, we spend a lot of time making sure we answer the questions that our clients send us. As you prepare to file your 2018 tax return, here’s a list of requirements to make sure you fulfill if you are already living […]