{"id":8253,"date":"2016-12-14T09:00:01","date_gmt":"2016-12-14T14:00:01","guid":{"rendered":"http:\/\/www.escapeartist.com\/?p=8253"},"modified":"2020-09-18T06:01:57","modified_gmt":"2020-09-18T11:01:57","slug":"year-end-planning-offshore-corporation-us-expats","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/year-end-planning-offshore-corporation-us-expats\/","title":{"rendered":"Year End Planning for an Offshore Corporation for US Expats"},"content":{"rendered":"
Tax year 2016 is coming to a close and it\u2019s the time to do some year end planning for your offshore corporation. Miss out on the FEIE or transferring money between entities, and you could be in for a rude awakening come January. <\/span><\/p>\n Year end planning for an offshore corporation is about getting your accounts and records ready for your tax preparer. For information on what IRS forms are required, see: <\/span>U.S. Tax Reporting for Expats<\/span><\/a>. <\/span><\/p>\n The first and most important year end planning for an offshore corporation is around the <\/span>Foreign Earned Income Exclusion<\/span><\/a>. If you\u2019re living and working abroad, and operating through an offshore corporation, you can exclude up to $101,300 in salary for 2016 ($103,100 for 2017). A husband and wife both working in the business can take out $202,600 tax free. <\/span><\/p>\n