Blog

You must declare amounts on your U.S. tax return in U.S. dollars. This requires converting foreign currency into U.S. dollars if you receive income or pay expenses in a foreign currency. Generally, use the prevailing exchange rate (the spot rate) on the date of the transaction. A qualified business unit…

While the exact value of the euro in May 2025 is impossible to predict with certainty, several factors could influence its exchange rate. Understanding these factors can offer insights into potential trends. Economic growth within the Eurozone plays a significant role in the euro’s strength. Positive growth can lead to…

A strong American dollar relative to the Euro can significantly impact both consumers and businesses. When the exchange rate favors the dollar, meaning 1 euro buys fewer American dollars, imported goods from Europe become cheaper for American consumers. For instance, if a product costs 100 euros and the exchange rate…

The Euro 2024 qualifying stage concluded in November 2023, determining the 23 national teams that will compete in the UEFA European Championship in Germany. Twenty teams secured their spots through the qualifying process, joining the host nation Germany. Three additional teams will qualify through the play-offs in March 2024. The…

You must convert any foreign currency, including Euros, into US dollars when reporting amounts on your US tax return. Generally, the prevailing exchange rate (also known as the spot rate) at the time of the transaction should be used for the euro to usd conversion. This applies to both income…