North Carolina’s biggest city, Charlotte, is the second-largest banking center in America, second only to New York City.
Bank of America’s headquarters are based here, and it’s the center of east coast operations for Wells Fargo. The picturesque city of Charlotte is also home to two professional sports franchises, the NBA’s Charlotte Hornets and the NFL’s Carolina Panthers.

With Earth Class Mail virtual address services you can get a Charlotte business mailing address, virtual mail, and a local footprint with none of the hassle.
At times called the New Energy Capital, there are more than 240 businesses in Charlotte with a direct tie to the energy sector. Including Siemens Energy, Electric Power Research Institute, Westinghouse, and Duke Energy just to name a few.


Charlotte, NC

Updated June 19, 2020Managing your postal mail doesn’t have to involve sorting through a giant pile of envelopes on the kitchen counter. Fortunately, virtual mailboxes are the go-to solution for modernizing your postal mail. Making the switch to a virtual mailbox means you’ll get to enjoy less paper clutter, the freedom to move or travel freely as you wish, and the confidence that important mail won’t fall through the cracks.At Earth Class Mail, we’ve scanned over 10 million pieces of mail to give our customers the flexibility to travel the world or work from anywhere without hesitation. If you haven’t already taken the leap, let us walk you through what a virtual mailbox is, who it’s for, and what questions you should ask before you choose a provider. <h3>What is a virtual mailbox?</h3>A <a href="https://www.earthclassmail.com/mailbox">virtual mailbox</a> is a digital mailbox service that contains scanned copies of your postal mail, which you can access from your computer, tablet, or phone. Wondering how you can access your postal mail virtually? Here’s <a href="https://www.earthclassmail.com/how-virtual-mail-works">how it works</a>: <ol><li>You pick a physical address from a provider’s list of available addresses. That becomes your virtual mailing address. </li><li>Your mail is received by the virtual mailbox provider, where it’s scanned and uploaded so that you can view it.</li><li>Some virtual mail providers will accept packages and forward them to the address of your choice.</li><li>Decide what you want to do with your mail. Some companies provide the option to store your mail, share it, shred it, or connect with other apps—like Dropbox, Google Drive, or Quickbooks Online. </li></ol><h3>Who should get a virtual mailbox?</h3>A virtual mailbox can be particularly useful for people who work remotely, who value location independence, travel extensively, or live abroad. <ul><li>Freelancers. If you’re a home-based freelancer, you may not want to put your home address on your website or invoices. A virtual mailbox allows you to keep your home address private while sharing a professional address with clients. </li></ul><ul><li>Expats. <a href="https://www.forbes.com/sites/alexandratalty/2018/05/31/the-12-things-every-expat-needs-to-do-before-moving-abroad/#45c740e96b6b">Managing your mail while in another country</a> can be a hassle. Just because you’re living abroad doesn’t mean people (and businesses, the government, your student loan servicer, etc.) stop sending you mail. The last thing you want is to miss an important bill, check, or notification because you’re not in the country. In the past, you may have listed your address as your parents’ or a friend’s house and asked them to let you know if something important arrived. With a virtual mailbox, you have access to all of your mail, 24/7, wherever you are.</li></ul><ul><li>Digital nomads. If you chose a  <a href="https://www.forbes.com/sites/hvmacarthur/2020/04/09/the-age-of-digital-nomads-remote-work-is-here-to-stayso-how-do-we-embrace-it/#4b4407234d15">location independent lifestyle</a>, the need to continue managing postal mail shouldn’t hold you back or create unnecessary anxiety. Using a virtual mail solution means you know you’re up to date on your postal mail and that important communications won’t fall through the cracks.</li></ul><ul><li>RVers. Living as an <a href="https://www.businessinsider.com/what-its-like-to-live-in-an-rv-year-round-2020-1">RV nomad</a> is becoming increasingly popular. RVer Michelle Schroeder-Gardner shared with Business Insider that one of the most common questions she gets about her lifestyle is “how do you receive mail?” If you’re choosing an RVer lifestyle, you may have seen people talking about forwarding mail to friends or to specific RV parks that you intend to visit. With a virtual mailbox, you don’t have to rely on friends or wait until you get to a specific location to open a letter. Your mail will be available on your computer, phone, or tablet whenever you need it. </li></ul><h3>A virtual mailbox may be a good fit for you if…</h3><ul><li>You want a better solution for managing your postal mail. If you have a giant stack of unsorted mail right now, then a virtual mailbox might be a good choice for you. A virtual mailbox will not only reduce your paper clutter, but also turn your mail into searchable PDFs so you can always find what you need. </li></ul><ul><li>You want to keep digital records of important documents. You can avoid the time-consuming process of scanning in documents that may not be the best quality. With a virtual mailbox, you’ll get every document as a high-resolution, searchable PDF. And if you want any original pieces of mail, you can just request they be forwarded to you or physically stored.</li></ul><ul><li>You travel frequently. If you travel a lot, for work or pleasure, you might get tired of asking your neighbor to pick up your mail or putting it on hold at the post office. Especially if you receive packages regularly, having a virtual mail solution with the ability to accept packages can be useful. Once you know you’ll be home for a bit, you can request the packages be sent to your home address.</li></ul><h3>Questions to ask when choosing a virtual mailbox provider</h3>Now that you’ve decided that you’re interested in a virtual mailbox, here are some questions to ask: <ol><li>What addresses do they have? One of your first considerations will be the <a href="https://www.earthclassmail.com/virtual-business-address">virtual address</a> that you choose. If you’re a freelancer, you may want a street address that you can also use to <a href="https://www.earthclassmail.com/blog/use-virtual-address-to-register-business">register your business</a>. If you’re an expat or an RVer, you might be happy with a P.O. box. Maybe you want to have a virtual address in the city you consider “home,” or maybe you like the idea of having a virtual address in a place you’ve never lived but have always loved—the options are plenty.</li><li>What actions can you take on your mail? To get the most value out of your virtual mailbox, ask whether you can see a demonstration of the product to understand the scope of functionalities available to you. If that’s not possible, be sure to find out: </li></ol><ul><li>In what format will you receive your mail?</li><li>How does the service provider treat packages and checks? </li><li>Can you easily export your information to other applications?</li><li>What are your options for organizing your information?</li><li>Can you have multiple users on your account?</li><li>Can you search for documents within the platform?</li></ul>3. What network and physical security measures do they take? Ask service providers what they do to <a href="https://www.earthclassmail.com/blog/virtual-address-privacy-and-security">safeguard their customers’ private information</a>. Find out: <ul><li>Do they rely on local partners (like local businesses or postal shops) for mail intake or they have independent operations? While local partnerships might increase the number of addresses available to you, they may reduce the security of your mail. </li><li>Are the people handling the mail items trained to handle confidential health and financial information?</li><li>Are there security systems in place at the facilities that receive and store mail items?</li><li>Do they have back-end security measures in place to keep your data safe?</li></ul>4. How quickly can you access your information? One of the major benefits of using digital mail and document solutions is accessing information quickly, in useful formats. Find out: <ul><li>How long will it take to see your mail contents from the moment you request an item to be scanned?</li><li>Is there an option to automatically scan all content?</li><li>How long does <a href="https://www.earthclassmail.com/mail-forwarding">mail forwarding</a> take? </li><li>Can you access your mail on a mobile device?</li></ul>5. What is included in the plan? Of course, you want to find out the price of a plan, but you also want to understand exactly what’s included for that price. Price comparison of different services isn’t always apples to apples. Think about what features you will need (mail scanning, mail forwarding, storage, shredding etc.) and make sure you understand the pricing structures associated with those plans and features. 6. Do they provide other services you need? For instance, some virtual mail services also offer the ability to <a href="https://www.earthclassmail.com/check-deposit">automatically deposit checks</a> or pay bills received in the mail. These additional services can help you get money faster and reduce the possibility of late payments.  A virtual mailbox can help create flexibility and efficiency in your life, but only if the service you use prioritizes those values. Think about how you want a virtual mailbox provider to improve your experience managing your postal mail, and use these questions to find a solution that can meet your needs.

Managing your postal mail doesn’t have to involve sorting through a giant pile of envelopes on the kitchen counter. Fortunately, virtual mailboxes are the go-to solution for modernizing your postal mail. 

Wondering what a virtual mailbox is? Start with these questions so you can choose the right one for you or your team.

 What is a Virtual Mailbox? And How to Choose One | Earth Class Mail

What is a Virtual Mailbox? (and How to Choose One)

Guest post by Tara Witterholt, Chief of Staff at <a href="http://elevation.solutions/">Elevation Solutions.</a>  Email, chats, video conferences, document sharing, CRMs, phone bridges—we have no shortage of tools to power our businesses. We have unlimited options for tracking work, collaborating on documents, and managing our workload. The difficulty starts when all these items are kept in disparate places, usually the place most convenient for the person who started the communications, document, or activity. The risk is people giving up on broken systems, starting yet another system for tracking or collaborating, and the time-sucking cycle repeating all over.Our management and technology consulting firm is engaged regularly to implement software that solves productivity problems. It’s our bread and butter. However, we prefer to come in before you implement the next great productivity tool. We work to understand operational pain points and the humans around the table before we move into the cloud.Below are some key steps you can take to figure out what productivity tools you actually need and how to maximize the ones you keep. 1. Inventory all the tools you’re using now, including anything used for document creation and storage, workflow and project management, scheduling and invoicing, etc. Then, get real… Organizations large and small are lured in by tools that look fun, shiny and new. They promise to increase our productivity, make us more effective, do our laundry, and cook us dinner. And they rarely deliver. You need to examine the tools you are using and ask yourself if they’re solving the problem that drove you to adoption.I once had a client ask me to implement a productivity tool that had a Google Drive connector, a calendar (separate from their Outlook or Google calendar), and a task assignment feature. It could be branded to their company, shared easily with their teams, and adopted at a low cost. They were beaming at the possibility of having more time for strategic work. They wanted to tackle the fact that projects weren’t getting done on time and they didn’t have visibility into what work people were doing. It turns out they didn’t have standard expectations for project delivery and relatively few consequences when deadlines came and went with no results. The cloud-based solution had rave reviews, but it didn’t solve their root problem: accountability. In the end, I helped them create a better system of accountability rather than throwing new software at the problem. This included agreements on deadlines, progress updates, and what happens when people don’t get their work done. The executives were happy with the increased insight and their teams were more willing to communicate progress with the new, clearer expectations.  2. Agree as a team what you will use for project management, internal and client-facing communications, and document creation and storage, then get rid of everything else.And stick to it! No going rogue. Agree that you won’t suggest a new or replacement tool until you all have had a chance to talk about these key things: who will use it, what the benefits are, and what problem you are trying to solve.We recently did this with our project management tools. We had 3 different ways to track projects and what we used differed by the client. At a strategy session (in the mountains, because, hey, it’s Colorado) we committed to using Trello to track progress on our implementation projects. We can assign tasks and provide access to internal and external users. Clients can see exactly what work is happening in real-time, as well as where we need their input.  Now, when we have questions about status and progress, we have one source of truth. It’s been a game-changer.3. When you figure out which tools to keep, make sure they talk to each other.Just like you encourage your team to collaborate, ensure your productivity tools are talking to each other! Our team has recently implemented an email connector that works with our Salesforce instance. We can set up meetings easily by sending suggested appointment times from our Google calendar, and the recipient can choose what works for them. We have also connected our project management tool to Google Drive, Slack, and our billing and project time-tracking software. When needed, our productivity tools enter information automatically into Salesforce. No more searching and wondering—it’s all in one place.The above suggestions take time to work through. You have to get the team together, ask tough questions, and find out what people are really using and how it’s working, including what’s most effective for your clients. But rest assured, the amount of time you will get back when you finish these steps is worth it. And if you do decide to try something new, we can help you implement what you truly need with style!— Tara Witterholt is Chief of Staff with Elevation Solutions, a rapidly growing management and IT consulting firm with clients and employees in every time zone. With over 15 years of project management experience, Tara works tirelessly to streamline processes and help people focus and be productive. She lives in Denver, Colorado, has a college-aged daughter, a cyclist husband and a very lazy but adorable cat.

Email, chats, video conferences, document sharing, CRMs, phone bridges—we have no shortage of tools to power our businesses. We have unlimited options for tracking work, collaborating on documents, and managing our workload. 

Visit the Earth Class Mail blog to figure out what productivity tools you actually need and how to maximize the ones you keep. 

Connecting Tools for Efficiency: 3 Things You Need to Do Now I Earth Class Mail Blog

Connecting Tools for Efficiency: 3 Things You Need to Do Now

As data moves from client to firm and vice versa, it needs to be protected in transit and on the devices being used to access it, whether it’s your employee’s laptop or smartphone. In addition, your firm’s employees may need to receive and access that data digitally. While sharing documents via the cloud can make it easier and faster for everyone involved, it does add an additional layer of risk in exposing client data.  Also, a frequently forgotten channel of communication that needs to be protected is mail. As a conduit for important documents, it also requires a unique set of security practices.Protecting client data is an ongoing challenge especially due to the varied ways your clients wish to provide documentation and access to their data. Considering all of this, here’s a checklist to get you started on ensuring client data is safe and secure, no matter how it’s being shared or accessed.<ol><li>Conduct an annual cybersecurity audit and assessment.  Preferably, this should be done by an outside firm and done annually. Expect the firm to review things such as password policy, privacy policy, agreements with vendors and contractors, data backup, and disaster recovery plans and network security. </li><li>Review every phase of your business processes, whether it’s client onboarding or a standard service such as filing taxes on behalf of your clients.  Review which employees are involved in the various stages and ensure that you have security guidelines in place at every step. You’ll want to ask:<ul><li>Has each employee been required to review and agree to your company’s policies for accessing and sharing company data?</li><li>If employees are aware of your BYOD (<a href="https://www.ibm.com/mobile/bring-your-own-device">Bring Your Own Device</a>) policy? (And if your BYOD policy is comprehensive.)</li><li>Does your IT require that passwords are changed regularly? </li></ul></li><li>Review the security policies of any cloud-based apps or premise-based solutions your firm is using to ensure that:<ul><li>Vendors and providers are <a href="http://www.onlinetech.com/resources/references/what-is-pci-compliance">PCI compliant</a></li><li>Each cloud-based provider you are using ensures business continuity whether there is an outage or disaster</li></ul></li><li>Protect data on premise. A network firewall should be installed, updated, and tested annually. Firewalls prevent unauthorized users from accessing your network by filtering incoming and outgoing traffic and data based on a set of rules. They also provide an additional layer of security that can make it more challenging for hackers to make a malicious attack on your network.</li><li>Mail can be at risk of a physical breach of your mailbox or run the risk of getting misplaced or damaged in your office. Once you’ve set up cloud security, consider moving your mail and important documents into the cloud as quickly as possible. When choosing document management providers, be sure to dig into their security policies. </li></ol>A final tip: if you’re still unsure of where to start, or want additional information, search for a reputable cybersecurity auditing firm in your local area. Ask for a list of customer references you can call to find out what their experience was with that firm or look for customer reviews or ratings on their Facebook page. This allows you to get more familiar with the different approaches that you can take to protect your business and client data. Three things to ask for are quotes and approaches around: cybersecurity audit, updated plan, and annual support.

As data moves from client to firm and vice versa, it needs to be protected in transit and on the devices being used to access it, whether it’s your employee’s laptop or smartphone. In addition, your firm’s employees may need to receive and access that da

Keep your data secure with this cybersecurity checklist for accounting firms. Read more on the Earth Class Mail blog.

Is Your Data Secure? A Cybersecurity Checklist for Accounting Firms I Earth Class Mail

Is Your Data Secure? A Cybersecurity Checklist for Accounting Firms

We’re excited to announce that the Earth Class Mail team will be attending Xerocon Atlanta next week. This conference brings together Xero partners and customers and will feature speakers, training sessions for accountants and bookkeepers, and opportunities for social gatherings. We’re looking forward to participating in this unique opportunity to celebrate our customers in the area and delve into the changes that are taking place in the cloud accounting industry.<h4>Earth Class Mail’s native Xero integration  </h4>As a trusted resource in the modern accountant’s playbook, our office mail automation platform offers native integration with Xero, one of the leading cloud accounting solutions. You can learn more about our native Xero integration <a href="https://www.earthclassmail.com/">on our website</a> or by contacting us at 210-802-5211.<h4>How to find us</h4>If you’d like to connect, please join us for a happy hour at the conclusion of Xerocon Day 1 (Wednesday, June 6th) between 5-7 pm for drinks and appetizers. Attendees will have the chance to meet other accounting professionals and learn about upcoming new services.For event information and to RSVP, see our <a href="https://www.eventbrite.com/e/xerocon-happy-hour-presented-by-earth-class-mail-tickets-46454911892">Eventbrite page</a>. And if you’d like to get in touch before, please reach out at <a href="mailto:eric.romoff@earthclass.com">eric.romoff@earthclass.com</a> or via my direct line at 210-802-2908. See you in Atlanta!

We’re excited to announce that the Earth Class Mail team will be attending Xerocon Atlanta next week. This conference brings together Xero partners and customers and will feature speakers, training sessions for accountants and bookkeepers, and opportuniti 

Come say to Earth Class Mail at Xerocon Atlanta! Visit our blog for details. 

Earth Class Mail at Xerocon Atlanta 2018 I Earth Class Mail Blog

Earth Class Mail at Xerocon Atlanta 2018 

Here in the US, the subject of data protection and privacy remains a highly debated topic, most recently as a result of the Facebook and Cambridge Analytica scandal as well as enterprise-level data breaches, such as the Equifax breach, that have impacted many of us.In Europe, data protection and privacy have been at the forefront of discussions amongst tech leaders and politicians for some time now. In April 2016, the EU passed regulation on how companies can collect data from EU residents known as <a href="https://ec.europa.eu/info/law/law-topic/data-protection_en">General Data Protection Regulation</a> (GDPR).What is the GDPR?The GDPR is a standard covering data protection and privacy that covers all citizens living in the European Union. The regulation applies to any company marketing to EU citizens, no matter the company’s location or the laws in the US.A prime example of how the GDPR affects us relates to our web browsing and the use of cookies, which are used to track your web activity across other websites in order to serve you relevant digital advertisements. In order for companies to be compliant with the GDPR, they have to abandon the practice of using cookies or give people the option to opt out.Companies with an online presence also will need to be transparent about what they do with data such as, your IP address, contact information, banking or medical information or even personal or professional photos.As a consequence of the number of data breaches that have occurred and have not been reported, if companies do experience a breach after May 25th, they are required to report it within 72 hours to the affected parties or be <a href="https://www.forbes.com/sites/forbesagencycouncil/2018/05/08/how-does-gdpr-impact-advertising-and-e-commerce/2/#7584ca54f986">penalized a portion of its global revenue</a>.Due to the impact of the GDPR and our desire to handle your private data with the utmost transparency and respect, we’d like to go over how we’re handling it here at Earth Class Mail. The deadline to comply with GDPR is May 25th, and we are on track to be 100% compliant by that deadline.What does this mean for Earth Class Mail Customers? We’re committed to improving our customers’ experience by making it easier for you to understand where your personal data is used and how. On May 25th, you can view our updated <a href="https://www.earthclassmail.com/privacy">Privacy Policy</a> outlines our data collection practices in greater detail. There, you’ll be able to understand how Earth Class Mail’s data policies apply to our website visitors and customers.In compliance with GDPR, we provide you with the right to request that we “forget” or delete your data within 30 days. You can make this request by contacting our customer support at <a href="mailto:support@earthclass.com">support@earthclassmail.com</a>.  For new customers, we’ll be making the onboarding process smoother and easier by allowing you to effectively sign and agree to our Privacy Policy before you begin using our service. Should you change your mind once you sign up, we’ll make it simple and easy for you to reverse your decision and will release your data accordingly. We prioritize security and data transparency for our customers and strive to make it easy for you always know how we are handling your data. For any questions, please reach out to our support team at <a href="mailto:support@earthclass.com">support@earthclassmail.com</a>.

Here in the US, the subject of data protection and privacy remains a highly debated topic, most recently as a result of the Facebook and Cambridge Analytica scandal as well as enterprise-level data breaches, such as the Equifax breach, that have impacted

We prioritize security and data transparency for our customers and strive to make it easy for you always know how we are handling your data with GDPR.

 GDPR and Earth Class Mail | Earth Class Mail | Blog

GDPR and Earth Class Mail

Property managers deal with a wide variety of incoming requests at all hours of the day so it can be easy to feel buried under a mountain of emails, voicemail messages from contractors, appointments with prospective tenants, and government snail mail.Whether you consider technology a friend or foe, today’s nonstop whirl of communications and activity requires modern property managers to innovate. It’s important to not get stuck in the weeds when selecting tools to power your workday, so we’ve compiled recommendations for utilizing technology to make your day-to-day processes and communications easier. <ol><li>Physical paper files are the enemy of efficiency. To automate your workflows and centralize important files and information in the cloud to easily access them anytime, you’ll want to digitize existing processes that involve old-school paperwork. In other words, look for opportunities to turn paper documents into editable digital files, by using <a href="https://www.digitaltrends.com/computing/best-google-docs-alternatives/">browser-based editing tools</a>, or gathering data via online forms like <a href="https://zapier.com/learn/google-sheets/how-to-use-google-forms/">Google Forms</a>  that feed those responses into a Google Sheet.</li><li>If you don’t have one already, your first order of business is to find a proven <a href="https://www.g2crowd.com/categories/property-management">property management software</a>. This will help you automate appointment and information requests, schedule and notify tenants of property inspections or repairs, and allow prospective clients to view photos or renderings of a unit, all without having to manually respond. Think of property management software as the first-line virtual assistant that helps you process and prioritize requests. </li><li>When you do have a tenant ready to come on board, digitize the lease signing process either through your property management software or a digital signing application like <a href="https://www.docusign.com/">DocuSign</a>. You’ll remove the need for a final in-person appointment to sign documents, which can be especially tough for couples or out-of-state tenants. Sometimes, it can take weeks to get everyone to find the time to meet within business hours.  </li><li>Install a chatbot on your leasing website that allows prospects to ask questions before requesting a walkthrough of a unit or apartment. Automated chatbots have greatly improved recently and help many companies qualify in or out prospects that would otherwise call in and take up your time.  If a prospect is ready to come in for a viewing, <a href="https://www.drift.com/">Drift’s chatbots</a> take automation one step further by setting the appointment for you and your prospect.</li><li>Use an SMS messaging app (like <a href="https://www.eztexting.com/">EZ Texting</a>) for the tenants and prospects that prefer to communicate that way. Your property management software might come with that capability, but if not, you might consider adding it to the mix to automatically remind tenants that rent is due (or late) or notify of an upcoming repair or inspection via text.</li><li>Shameless plug: you can eliminate the need to process checks at the bank by digitizing your mail and automating deposits by using Earth Class Mail’s <a href="https://www.earthclassmail.com/check-deposit">automated check deposit solution</a>. You’ll save countless trips to the bank and have the ability to see what checks you’ve received in the mail from the comfort of your desktop or smartphone.</li></ol>If you have any other tips, please drop them in the comments section below!

Property managers deal with a wide variety of incoming requests at all hours of the day so it can be easy to feel buried under a mountain of emails, voicemail messages from contractors, appointments with prospective tenants, and government snail mail.

Property managers have a lot to juggle, but technology can help. Read more about how property managers can leverage tech to work more efficiently.

6 Ways Property Managers Can Use Tech to Work Smarter I Earth Class Mail Blog

6 Ways Property Managers Can Use Tech to Work Smarter

This is a guest article by Hugo Lesser @ <a href="https://www.brighttax.com/index.html">Bright!Tax</a>A lot of entrepreneurs choose to run their small business from abroad. For some it’s a way to get around work visa requirements, for others it may be a tax savings decision, and many are simply drawn to the expat lifestyle. Unfortunately for you, the IRS still needs to get theirs. If you’re a U.S. citizen, you need file a federal tax return each year.There are a few critical steps you can take to minimize your tax liability, and several important considerations that are unique to expat tax returns.<h3>Use your expat status to reduce tax liability</h3><h3></h3>You’re not going to escape the IRS, but to their credit they are accommodating toward expats. There are some key exclusions that allow you to partially reduce or entirely eliminate your U.S. tax liability.The most common is the <a href="https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion">Foreign Earned Income Exclusion (FEIE)</a>, form <a href="https://www.irs.gov/uac/about-form-2555">#2555</a>.The FEIE allows expats, who can prove that they’re living abroad, to exclude the first $100,000 (inflation adjusted) in earnings each year. The threshold for expat living abroad is as follows, <a href="https://www.irs.gov/businesses/corporations/summary-of-fatca-reporting-for-u-s-taxpayers">per the IRS website</a>:<blockquote>“You are considered to live abroad if you are a U.S. citizen whose tax home is in a foreign country and you have been present in a foreign country or countries for at least 330 days out of a consecutive 12-month period.”</blockquote>If you’re in a foreign country with a higher income tax rate than the U.S., then consider the <a href="https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit">Foreign Tax Credit (FTC)</a> form <a href="https://www.irs.gov/uac/about-form-1116">#1116</a>.With the FTC you can claim a dollar for dollar tax credit for any income taxes you’ve already paid abroad, and potentially eliminate your entire IRS tax bill.<blockquote>Bonus: The FTC credits rollover for future use.</blockquote>Deadlines still apply so you have until June 15th to file, with a further extension available until October 15th upon special request.<h3>Single-member LLC’s are your wallet’s best friend</h3>Limited liability corporations registered in the U.S. with a single owner are considered <a href="https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies">‘disregarded entities’ by the IRS</a>.Huh? Well, that means they don’t require separate corporate reporting, and any revenue or expenses can be included on the owner’s personal tax return.There’s a catch though, you need to “elect” to be considered a disregarded entity by filing a special form, form <a href="https://www.irs.gov/uac/form-8832-entity-classification-election">#8832</a> (#8858 in subsequent years).Doing that allows you to use the personal exclusions mentioned above against your corporate profits.<h3>The IRS knows your bank account balance</h3>You’re required to report any foreign bank or investment accounts if the total value of their combined balances is over $10,000. Any bank account that you have control or signatory authority over qualifies, including small business accounts, even if the account isn’t in the your name.For example: if you have a personal savings account and control over your small business account, and the two balances combined had a value of over $10,000 at any time during the tax year, you will need to file a <a href="https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar">Foreign Bank Account Report (FBAR)</a>.<blockquote>Foreign banks report their U.S. clients’ account details to the U.S. government, so the IRS knows who should be filing. Penalties for not filing are substantial. </blockquote>If you ignore this requirement, you will get penalized. From the IRS website,<blockquote>“For willful violations, the inflation-adjusted penalty may be the greater of $124,588 or 50 percent of the balance in the account at the time of the violation, for each violation“.</blockquote><h3>If business is good, the IRS wants to know</h3>The <a href="https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance-act-fatca">Foreign Account Tax Compliance Act (FATCA)</a> requires expats to report their foreign assets (not including tangible assets such as property) if they are worth a total of at least $200,000 at any time during the tax year.Qualifying assets include savings and investments, and small businesses.If your investments and the value of your small business pass this threshold, you should report them.<h3>You’re still going to pay for Social Security</h3>Sole proprietorships and single owner LLCs registered in the U.S. are required to pay Social Security taxes.<blockquote>If your business is registered abroad on the other hand, you aren’t.</blockquote>Certain countries have Totalization agreements with the U.S. A totalization agreement means that you won’t be penalized with a requirement to contribute to two separate social security programs.There are dozens of countries that qualify including, but not limited to: Australia, Canada, Denmark, France, Germany, Ireland, Japan, Norway, Poland, South Korea, and the United Kingdom. <blockquote>You can view a <a href="https://www.irs.gov/individuals/international-taxpayers/totalization-agreements">complete list of Totalization Agreements here</a>.</blockquote>In countries with Totalization, you can opt to have your foreign social security taxes credited toward your U.S. future social security benefits.<h3>Wrapping up…</h3>Filing U.S. taxes as an expat small business owner can be complex, and this article is not comprehensive.The <a href="https://www.irs.gov/individuals/international-taxpayers/u-s-citizens-and-resident-aliens-abroad">IRS offers an overview of the rules and required forms</a>, just remember that mistakes can be costly.As with anything tax related, consult a licensed professional for your specific needs.

A lot of entrepreneurs choose to run their small business from abroad. For some it’s a way to get around work visa requirements, for others it may be a tax savings decision, and many are simply drawn to the expat lifestyle. 

The IRS still needs to get theirs. If you're a US citizen, you need to report your global income by filing a federal tax return each year.

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