Organize taxes, banking and payments

The IRS says US citizens and resident aliens are generally subject to US tax rules on worldwide income while abroad. Foreign earned income exclusions and foreign tax credits have eligibility and filing conditions. Moving overseas does not itself switch off US filing obligations.

Ask an adviser qualified for your situation to review federal, state and destination obligations, where your work is physically performed, your expected travel dates, business interests, investments and household. A visa duration, a residence card and tax residence are different concepts. Do not assume a single day threshold settles every country’s rules.

Bring recent tax returns, employment or client contracts, payslips, an expected travel calendar, a list of accounts and details of any business you own. Explain whether you will keep a US home, rent it out, sell it or change state ties. Ask about filing dates, estimated payments, payroll and social insurance. Ask for the agreed scope and fee in writing.

Keep a travel log showing entry and exit dates and where work was performed. Retain account statements and salary records throughout the year. A short monthly review is easier than reconstructing a year of transactions and travel from memory.

Ask each existing bank whether it serves customers resident in your intended destination, which address evidence it accepts and how to recover access abroad. Test authentication before changing your phone service. Keep an alternative payment method and record how to report a blocked or lost card.

For foreign financial accounts, review reporting separately from income tax. IRS guidance describes FBAR reporting where the aggregate value of covered foreign accounts exceeds USD 10,000 at any time during the calendar year, subject to the applicable rules and exceptions. Other reporting obligations require their own review. Keep the relevant records with your tax file.