[usasf999]

I moved permanently in Dubai. I m a US citizen and besides my regular work, I run an LLC based in the US. I run it from here in Dubai.

- am I allowed to deduct expenses related to that business even if they happen outside of the United States (internet, phone, home office, etc...)


On another note: is interest on mortgage on a property owned in Dubai tax deductible on my US tax return?

Do you know of any good accountant specialized or know how to deal with US expats tax matters?

thanks

O

 

[Bevdeforges]

All usual and reasonable expenses of a business are deductible for US tax purposes. (And in fact, you must declare your worldwide income when filing your US returns.) So yes, your business expenses are deductible, just as your income from the business must be declared.

If the mortgage interest is deductible, it doesn't matter where the property is located (depends obviously on whether it's business or personal property, etc.).

Download yourself a copy of IRS publication 17 and then pub 54 (which is for overseas residents) and you may be able to save yourself the pricey tax advisor.
Cheers,
Bev

 

[Fatbrit]

Contact me and I can connect you with the right people.

There are two problems with that:

Self-help forums work best on a peer review basis. If everything is out in the open for others to review and comment on, then the OP is much more likely to have a balanced reply to his question.

If advice is passed by PM, then it doesn't help anyone else.

 

[usasf999]

There are two problems with that:

Self-help forums work best on a peer review basis. If everything is out in the open for others to review and comment on, then the OP is much more likely to have a balanced reply to his question.

If advice is passed by PM, then it doesn't help anyone else.

Thank you all for your input. I will post more as things progress.

 

[vincetruong]

There are two problems with that:

Self-help forums work best on a peer review basis. If everything is out in the open for others to review and comment on, then the OP is much more likely to have a balanced reply to his question.

If advice is passed by PM, then it doesn't help anyone else.

Responding to the query: Do you know of any good accountant specialized or know how to deal with US expats tax matters?

My answer was, for all intents and purposes, yes I do know of someone.

 

[Fatbrit]

Responding to the query: Do you know of any good accountant specialized or know how to deal with US expats tax matters?

My answer was, for all intents and purposes, yes I do know of someone.

Q: Can you tell me the time?
A: Yes, I can!

I love kindergarten jokes. But they're not much help to people asking serious questions on this forum.

 

[SBP]

Q: Can you tell me the time?
A: Yes, I can!

I love kindergarten jokes. But they're not much help to people asking serious questions on this forum.

Where's the soap?
Yes doesn't it