Living Abroad: What To Know As An Expat

U.S. citizens living abroad are still subject to U.S. tax laws, which means they must file a U.S. tax return each year and report their worldwide income. However, several provisions can reduce or eliminate double taxation.

Here are the key tax considerations:

  1. Filing Requirements

  2. Foreign Earned Income Exclusion (FEIE) – Form 2555

  3. Foreign Tax Credit – Form 1116

  4. Foreign Bank Account Reporting (FBAR) – FinCEN Form 114

  5. FATCA Reporting – Form 8938

  6. State Taxes

  7. Self-Employment Tax

  8. Social Security & Totalization Agreements

  9. Estimated Taxes

  10. Tax Treaties

About the presenter:

Sharon Hodges’ entrepreneurial journey began at the age of 13, when she launched her first business - a house cleaning service with a steady rotation of clients throughout high school. Driven by the desire for financial independence and stability from an early age, she carried that determination into adulthood.

After high school, Sharon juggled both full-time and part-time jobs to put herself through college. Though she initially considered a career in nursing while working in a hospital, her early interest in accounting ultimately prevailed. As a single mother, Sharon made the pivotal decision to accelerate her education, completing her final three years of coursework in just two years by taking 15 credit hours every semester—including summer breaks. In a notable achievement, she passed the CPA exam before officially finishing her degree, successfully passing three sections in one sitting and the fourth shortly thereafter.

Sharon spent nine years in corporate accounting before transitioning into public accounting—first part-time in 2001 and then full-time in 2003. Along the way, she started her fifth business in 1996, providing tax and accounting services for individuals and small businesses. Since then, she has continuously operated accounting firms and developed a niche in working closely with business clients.

Today, Sharon focuses on consulting, tax strategy, business planning, and succession planning, guiding clients through every stage of their business lifecycle with insight, experience, and a passion for helping entrepreneurs succeed.