25 Jan 2023 | Dutch BV, Dutch Tax, US Tax
Through 2022 the way the Netherlands taxed savings and investments was based on a deemed asset allocation and a deemed rate of return. This was calculated in “Box 3”. So your tax was based on an asset allocation that was almost certainly not accurate and...
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,...
