19 Feb 2021 | FATCA, FBAR, Foreign Bank Account Report, Investing, US Tax
The IRS has clearly stated that PayPal accounts located outside of the US are considered a foreign bank account for the purposes of FBAR filing. If you have a US-based PayPal account this would normally not need to be reported. Fortunately, the reporting from PayPal...
19 Feb 2021 | Crypto Currency, FATCA, FBAR, Foreign Bank Account Report, Investing, US Tax
The IRS and FinCen have not given a lot of clarity on the “official” rules for reporting (or not) virtual currency holdings on your FBAR, but here are some general guidelines:1) If you store your virtual currency on a public exchange (e.g. Coinbase,...
8 Jan 2021 | Dutch Tax, Foreign Tax Credits, Investing, Net Investment Income Tax (NIIT), Real Estate, US Tax
The most common complaint I hear about the Dutch tax system is the way that they tax income from savings and investments (e.g. interest, dividends and capital gains). This taxation occurs in “Box 3” of a Dutch tax return (“Box 1” covers wages,...
10 Dec 2012 | Dutch Tax, Investing, Net Investment Income Tax (NIIT)
Assuming no last-minute changes, the maximum US tax rate on long-term capital gains is set to increase on January 1, 2013, from 15% to 23.8% (including a 3.8% Medicare surcharge on investment income over $250,000). There is a lot of advice going around for people to...
