• The potential for being taxed twice, both by the U.S. and their host country, can usually be offset by:
• Foreign Earned Income Exclusion (FEIE) – Exclude up to $126,500 (adjusted for inflation annually) with Form 2555
• Foreign Tax Credit (FTC) – Offset U.S. tax liability with foreign taxes paid using Form 1116
• Tax Treaties – Can reduce or eliminate certain taxes (e.g., on pensions, dividends, royalties)

• FinCEN Form 114 must be filed if your aggregate foreign account balance exceeds $10,000 at any time during the year.
• Separate from your tax return. 
• Huge penalties for failing to file (civil: up to $10,000 per violation; willful: greater of $100,000 or 50% of the account balance).

• Form 8938 must be filed with your tax return if you have specified foreign financial assets over certain thresholds (e.g., $200,000+ for single filers abroad).
• Similar to FBAR, but broader in scope (includes investments, foreign pensions, trusts).

• U.S. self-employed expats may still owe self-employment tax (~15.3%) unless protected by a totalization agreement with their host country.

• Some states (e.g., California, New York, Massachusetts) are aggressive about taxing former residents unless you sever ties.

Prepares and files tax returns (Form 1040 and related forms).

Analyzes tax implications of applying FEIE, FTC, and Tax Treaty benefits

Determines if you need to report foreign financial assets by filing FBAR, FATCA, or Form 8621 to avoid hefty penalties for noncompliance.

Advises on tax consequences of dual citizenship, owning foreign businesses, selling foreign property, or receiving foreign pensions. 

Provides strategic tax planning to maximize credits, avoid double taxation, and minimize liability.