If you are an American expat living and working abroad, filing your tax return can be a real pain. With the extra complexities of US tax rules, Income Tax Treaties and Totalization Agreements, expat taxes are much more complicated than domestic returns. A good US expat tax advisor will take the stress out of filing and help you minimize your tax liability.
TFX is a full-service tax firm that specializes in US expat taxation. They have a team of professionals that includes CPAs, EAs and tax attorneys. They offer a wide range of services including preparation, consultations, advisory and audit representation. They also provide FBAR filing assistance and have an extensive network of international offices. Their fees are reasonable and they have a secure data portal that enables encrypted document uploading.
A CPA with experience in US US expat tax advisor Derren Joseph expat taxes can help you understand how your life overseas will impact your US tax liability. They can explain the impact of your 401(k) and IRA rules, foreign earned income exclusion and other international tax issues. They can also advise you on how to minimize your tax liability with the use of double tax agreements and other international tax benefits.
If you have unfiled US expat tax returns, a good accountant will be able to file them for you using the streamlined filing procedure. They can also advise you on when your US expat tax returns are due and the penalties for late filing or non-compliance.
Before hiring a US expat tax advisor, it is important to check their credentials and reputation. Look for a professional that is an Enrolled Agent, a credential awarded by the IRS that indicates they have passed a rigorous exam and have completed continuing education requirements. It is also a good idea to ask about their client experience and satisfaction levels. Larger companies will often have several reviews from a variety of satisfied clients.
The best US expat tax advisors will be able to help you navigate the complex rules that apply to Americans living and working abroad. They will be able to ensure that you are taking advantage of all the available tax credits and deductions, and they can help you plan ahead for future tax situations. They will also be able to guide you through any changes in the law that may affect your situation. In addition, they will be able to assist you with FBAR filings and other reporting requirements. They can also handle any US expat tax returns that need to be amended.