Reid Kopald
Articles
Understanding Form 4137: Social Security and Medicare Tax on Unreported Tip Income
IRS Form 4137 stands out as a critical document for many workers in the service industry. This Form, titled "Social Security and Medicare Tax on Unreported Tip Income," plays a vital role in ensuring that income from tips is accurately reported and taxed. Being a CPA since living memory, I've seen many clients ov...
Cryptocurrency Tax Reporting for American Expats 101
Cryptocurrency transactions have become very popular nowadays and every American citizens, including expats, have to file a US tax return every year, should know how the IRS is treating each transaction like buying, investing, and trading of Cryptocurrencies. If you've invested in Bitcoin or another form of cryptoc...
Are Royalties as a Retiree Subject to Self-Employment Tax?
What Is Royalty Income? A royalty Income is a legally binding payment made to an individual or company for the ongoing use of their assets, including copyrighted works, franchises, and natural resources. An example of royalties would be payments received by musicians when their original songs are played on the r...
Social Security Benefits as an American Living Abroad: Everything You Need to Know
Social Security Benefits for expats Knowing the details of your Social Security status is a vital part of planning your retirement. You’ve been contributing to your Social Security for the entire time you’ve been working and now you decide that you’re going to retire in a foreign country. A typical question in...
Virtual Mailbox Services for Americans Living Abroad and Why You Should Have One
Why you need to have a Virtual Mailbox Service if you live abroad If you are an American living abroad you should seriously consider having a US mailing scanning / forwarding service for the following reasons: ...
US Expats Taxes on Rental Income. Obligations and Deductions
Explanation of Rental Income Profit and Loss Reporting If you have been an expat for some time, you are likely already aware of your requirement to file an annual US tax return while living and working abroad. This requireme...