There are many questions running around my mind when I think of banking, taxing, and investing as an American living in Germany. I’ve participated in workshops, attended seminars online and have asked lots of questions to lots of people. Still, I am confused on many issues, especially the German retirement programs I am enrolled in. Are they taxed? How are...
US Tax & Banking
US Tax & Banking Articles
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As we get closer to year end, there are still some opportunities to reduce your 2025 taxable income as well as reduce your taxable estate.
- For 2025, you can reduce your taxable income for this year by:
- maximizing your IRA and other retirement savings accounts up to the IRS limit.
- Gifting appreciated stocks to US 501(c )(3) charities
- If you...
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You may have already lived through the experience of the death of an American parent living in the US. In addition to the emotional impact of the loss of a dear one, you may have been involved in finalizing their estate. Maybe it was straightforward? Maybe it was complicated and exhausting to finalize? Regardless of which it was, be aware...
In an article on the Medium website dated January 2023, Rebecca Lammers, International Member of the Tax Advocacy Panel, wrote an article about online communities for American Expats to discuss their taxes and tax obligations.
It is an outstandingly detailed attempt to summarize the online communities on Reddit and Facebook available for local accountant recommendations, help with filing, and other...
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If you are a US citizen required to file income taxes, here are some of the key dates you need to keep in mind in 2025:
April 15, 2025
- file individual tax return (Form 1040) – for expats, this deadline is automatically extended until June 16, 2025;
- file Report of Foreign Bank and Financial Accounts (FBAR) – definitely do so by October...
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by Alisa Cook-Roehs, AIWC Düsseldorf
Although Social Security doesn’t fall directly under Tax and Banking, as part of the US Issues Team, we do collect articles of interest and pass them on to the FAWCO membership. The following are two such synopses written by members relaying their experiences in filing for individual social security benefits and benefits for a non-US citizen spouse.
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Per the Bank Secrecy Act, every year you must report certain foreign financial accounts, such as bank accounts, brokerage accounts and mutual funds, to the Treasury Department by filing a Report of Foreign Bank and Financial Accounts (FBAR) on Financial Crimes Enforcement Network (FinCEN) Form 114.
Who must file?
Any US person (citizens, resident aliens, trusts, estates and domestic entities) with an...
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