Question

Future move

Forum|Forum|2 years ago
October 25, 2023
1 reply
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Moving abroad. Planning a move early next year for grad school(haven't made my school choice yet), I work remotely for a US based company in IL. I am not sure what differences and changes that that bring out, what topics or services would you suggest I look into?

Ask the Experts - Extension - Sept 2023

D

DeepP2

Hi @snavar-01 ,

Congrats.

If you still work remotely for a US based company in a foreign country, you will first want to look up a tax-treaty between the US and foreign country you are planning to move to. US taxes based on global income.

Next, if you are a student in a foreign country; you plan to take education deductions, you can look into the following schools, to see if you are eligible for education tax breaks: Here

Lastly, you may need to look into filing FBAR with FINCEN, if your are a U.S. person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, with bank accounts with more $10,000 in any given point in time of the year. Here

Let us know should you have any additional questions.