Expat Tax Advice – Advice For Americans Abroad

Expat Tax Advice

Expat Tax Advice Is Complicated

As an American abroad, expat tax advice can be complicated and finding a U.S. expat tax advice professional can be equally difficult. While at the same time it opens up a myriad of opportunities for tax savings that often go unexploited, it also opens up a minefield to the unexperienced to fall out of compliance.

Anyone seeking US expat tax advice should be asking themselves the following questions:

  • Are you claiming all the tax benefits you are eligible for?
  • Are you sure that you have fulfilled all of your tax form filing obligations?
  • Are you paying too much tax to the U.S.?
  • Can you face the prospect of an IRS audit or state examination with confidence – or do nasty surprises lie in wait?

If you’re unsure about any of the above and don’t want to face these uncertainties alone, we highly recommend that you seek expat tax advice from the right professional – one that has significant experience dealing with the unique and complicated tax issues and filing requirements for expat tax preparation.

A common mistake of U.S. expats when they first move abroad is that if their earned income is below the foreign earned income exclusion they are automatically exempt from US tax and don’t need to file a US tax return. This is not true. US tax filing requirements are no different whether living abroad or in the US. If the tax filing requirements are met, a US tax return must be filed even if the tax liability is reduced to zero with the foreign earned income exclusion.

As you may already know, the basic rule is that U.S. taxpayers are fully liable for reporting their worldwide income on a U.S. tax return. However, what many taxpayers aren’t aware of is that not all foreign source income is treated exactly the same as US-source income. For example, U.S. mutual funds sold are treated as capital gains. But, foreign mutual funds are treated to the punitive and exhaustive tax compliance requirements under the classification of a PFIC (passive foreign investment company). There are many other potential minefields similar to PFICs that you can be made aware of with proper expat tax advice.

Understand Your Tax Commitments For Peace Of Mind

By requesting qualified expat tax advice from expat tax professional, they can help you navigate your way around the complexities of expat tax preparation – no matter where you’re living or the number of countries you work/live in.

With expat tax advice from Tax Samaritan, we will guide you through the tax issues that are relevant to you and help you implement appropriate tax management strategies and filing compliance

Request Independent Expat Tax Advice

A qualified expat tax advisor should be able to provide you with:

  • A detailed assessment of your filing requirements
  • Recommendations on how you could reduce your tax liability
  • Advice on how to apply relevant tax treaties and the U.S. tax code
  • Assistance to ensure that you file an accurate and complete return that is fully compliant

If you are unsure of your US tax requirements, Tax Samaritan can provide you qualified expat tax advice to assist all U.S. taxpayers who work and live outside of the U.S.

Please click on the button below for a free, no obligation Tax Preparation quote and/or free 30-minute consultation to discuss your situation further:

Tax Samaritan is a team of Enrolled Agents with over 25 years of experience focusing on US tax preparation and representation. We maintain this tax blog where all articles are written by Enrolled Agents. Our main objective is to educate US taxpayers on their tax responsibilities and the selection of a tax professional. Our articles are also designed to help taxpayers looking to self prepare, providing specific tips and pitfalls to avoid.

When looking for a tax professional, choose carefully.  We recommend that you hire a credentialed tax professional such as Tax Samaritan that is an Enrolled Agent (America’s Tax Experts). If you are a US taxpayer overseas, we further recommend that you seek a professional who is experienced in expat tax preparation, like Tax Samaritan (most tax professionals have limited to no experience with the unique tax issues of expat taxpayers).

Randall Brody is an enrolled agent, licensed by the US Department of the Treasury to represent taxpayers before the IRS for audits, collections and appeals. To attain the enrolled agent designation, candidates must demonstrate expertise in taxation, fulfill continuing education credits and adhere to a stringent code of ethics.

Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.

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