Important things you should know before you move to Singapore know your eligibility for credits and exclusions, each state has its tax regulations, Tax filing dates and relevant extensions, Tax treaties prevent double taxation for US expatriates, FBAR needs to be filed in particular tax filing cases. @ http://advancedamericantax.com/

1. KNOW ABOUT US EXPAT
SINGAPORE
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2. When moving abroad, know your
eligibility for credits and
exclusions
▪ Those expatriates who are moving for the
first time don’t realize this, but when living
and working in Singapore, as ex-pats, they
are required to file US tax Singapore returns
timely.
▪ As ex-pats, they also qualify for certain
exclusions and credits, which make the entire
tax filing process a relaxing experience.
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3. Each state has its tax
regulations
▪ Many US states continue to collect state tax even
after moving to Singapore.
▪ It is important to know how your state deals ex-
pat matters and then adjust your tax situation
accordingly.
▪ However, the best way to avoid state taxes, no
matter which state you belong to, is to cut all
physical ties (bank accounts, mortgages, bills,
and many others) before moving to the other
country.
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4. Tax filing dates and relevant
extensions
▪ Typically, the tax filing deadline in the US is in
mid of April every year, normally, it is on 15th
April, but if the 15th falls on a weekend or a
holiday, the deadline can move to the next
available business day.
▪ For American expats tax Singapore, the filing
deadline is on 15th June and the extension
period will be granted until October 15th for
certain cases. Noted that extended tax filing
deadline does not apply to owed taxes.
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5. Tax treaties prevent double
taxation for US expatriates
▪ Income tax treaties help prevent double
taxation for Americans living overseas by
eliminating US taxes on certain types of
income.
▪ However, like any legal documentation work,
tax treaties can be complex and difficult to
understand.
▪ If you don’t know which rules applied to your
case, be sure to consult a professional
accountant in Singapore.
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6. FBAR needs to be filed in
particular tax filing cases
▪ FBAR (Foreign Bank Account Report), is part
of the US initiative to uncover all the account
holders who are hiding money in their
offshore accounts.
▪ If the aggregate balance of all your foreign
bank account exceeds the government stated
amount (at present $10,000), you are
required to file FBAR. Noted that, FBAR is
filed separately from your tax return.
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7. Need to file FATCA
▪ FATCA, Foreign AccountTax Compliance Act is
somehow similar to FBAR, which is intended to
prevent US taxpayers who are hiding their
money in offshore accounts or by purchasing
assets.
▪ In case, the value of the financial assets exceeds
the filing threshold (which may vary by filing
status and residency), Form 8938 should be filed.
▪ Filing requirements, as well as the procedure of
FBAR and FATCA Singapore, are separate, but
to a certain extent similar.
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8. Contact Us
▪ Address:-
#25-00, Samsung Hub, 3 Church St,
Singapore 049483
▪ T: +65 9720 1040
▪ Email Us: Help@AdvancedAmericanTax.com