US expats who choose to live abroad must still complete a tax return for the United States.
Cross-Border Accounting and Tax is one of our core industry specialties.
When filing as an expat, it’s important to maximize foreign tax credits, take advantage of foreign-earned income exclusion and foreign housing exclusion, and that you work with a firm that understands the complex workings of inter-country tax credit computations.
At Akif CPA, international taxation is one of our key areas of expertise. We will make sure you maximize deductions while ensuring no disclosure or required documents and forms are missed. Tax preparation is difficult enough, but when dealing with US taxes as a US expat living abroad, it’s important to rely on an accounting firm who can confidently handle your needs.
Every cross-border tax scenario is different. As an expat living outside of the U.S., we recommend reaching out to our cross-border CPAs to get real-world advice on how to move forward.
The Foreign Account Tax Compliance Act (FATCA) is required for all individuals whose assets total over $50,000. All US expats and US citizens living abroad must complete and file Form 8938, but there are additional forms that must be filed depending on your income level, whether you are self-employed, employed abroad, or own your own business, and based on your assets. We are happy to answer any questions, so give us a call and we can walk you through what needs to be done in your specific case!
As a US expat or US citizen living abroad, you must must complete and file a federal tax return if you meet the minimum requirements and age. Not all states require tax returns to be filed by expats, but if yours does we can help! Keep in mind that if you are self-employed you will still be required to file a tax return. If you have assets, estates, or trusts, we can help make sure you are compliant when you file. We also offer audit assistance and help with late filings.
Business owners living and/or operating abroad are at risk for double taxation on your worldwide earnings if you are not careful. Your filing will be different based on whether you are operating as a sole-proprietor, partnership, or C-corp or S-Corp. That’s why we build long-term relationships with business owners who are US citizens living abroad. Whether you need preparation services, an audit, or a late filing, we can help!
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For assistance in planning and transferring your U.S. assets to Canada, please contact our colleague Phil Hogan, CPA, CA, CPA at (250) 661-9417 or [email protected]
