We sit down with tax expert Thomas Carden of American International Tax Advisers to discuss the topic of US citizens living abroad and taxes. We’ve placed an emphasis on ESL teachers and how they can save significant sums of money every year when filing their taxes.
Thomas has been working as a tax specialist for over 20 years and holds a Bachelor in Global Business Management and a Masters in International Tax and Financial Service Law.
Thomas highlights specific deductions that teachers can use to save thousands every year on their taxes and, especially, how teachers with children may be able to recover thousands from previous years tax filings. We go in-depth into foreign earned income and whether there are other options which may save teachers more money.
We also go over the finer points of when you want to begin getting your taxes ready if you are not currently living in the United States as well as specific dates that US expats will want to remember.
Other issues talked about include whether teachers who live in states with a state income tax are still on the hook (if you are a resident of New York or California then you will want to pay attention to this) and what deductions may be applicable to teachers specifically that can help you save money. This includes keeping track of your transportation expenses, any items bought for the classroom including textbooks and other supplies, and claiming your residence as a home office if you also teach online.