Course Description:
This class will focus on Form 1040. (That’s the form we already know and love.) Use this form if your taxpayer is a US citizen – no matter where in the world he resides. This course will help the practitioner assist American clients who live, work, retire, travel, and/or invest abroad. Topics will include foreign-earned income and foreign housing credits and deductions, the foreign tax credit, information for military personnel, inter-agency cooperation, and tax avoidance schemes.
Learning Objectives
Upon completion of this course, you will be able to:
- Understand that US citizens living outside of the US have filing requirements comparable to citizens and residents living in the US.
- Determine if certain US taxpayers may claim the foreign-earned income exclusion.
- Correctly calculate the housing exclusion for employer-provided housing and the housing deduction if the taxpayer is self-employed.
- Use the foreign tax credit to mitigate the effects of double taxation and reduce the US tax liability of eligible taxpayers.
- Advise US taxpayers of tax and reporting regulations that apply specifically to those living abroad, including foreign account and foreign assets reporting.
This Course Counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
About Monica Haven:
Monica Haven is an Enrolled Agent, an Accredited Tax Advisor®, and Accredited Tax Preparer®. She is a graduate fellow of the National Tax Practice Institute®, a nationally recognized academic program designed to develop and hone the skills necessary for effective taxpayer representation.
She has a Bachelor of Science degree in Small Business Management with an emphasis on New Ventures, as well as a Doctor of Jurisprudence (J.D.) and a Master of Laws in Taxation (LL.M.) from Loyola Law School in Los Angeles.
She is a nationally recognized speaker and a sought-after guest lecturer on college campuses and at community organizations. She loves to teach and welcomes every opportunity to share her experience and expertise in the classroom, even as she maintains her Southern California tax practice which serves clients throughout the world.
