Tax for US Expat and US Citizens Living Abroad

US expats who choose to live abroad must still complete a tax return for the United States.

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.

Operating Across Borders

As an international firm with offices in Houston and Toronto, our certified tax professionals can help you with US Tax compliance and tax consultancy for tax savings. We are here to help so contact us now.

Getting Down the Basics

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.

FATCA Reporting

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!

For Individuals Living Abroad

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.

For Businesses Owned and/or Operated Abroad

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!

I moved to the USA from Canada late 2018 as part of a promotion/relocation for work. For my 2019 returns, I used an accounting firm recommended by the local Canadian social club in my city, which was a terrible experience. They were slow to respond to inquiries and would follow up in piecemeal requests which dragged out my return process over several months, often asking for information I had already provided.

For the price I paid, I vowed to find better service. I found Mohammad online and decided to reach out. Mohammad was extremely responsive, took care of my US and Canadian returns as well as my wife's business returns in a timely manner. Overall, it was a very positive experience and I would recommend him to another in my situation.

I have trusted AKIF CPA to handle my taxes for a couple years now and will continue to do so. There can be a lot to sort through financially as an American living in Canada, and Mohammad's group makes the process as easy as possible.

I was referred to Akif CPA when I was looking for someone to help me with filing my individual Canadian and US taxes. Mohammad was very thorough when explaining my options and helped me understand both tax systems. He was excellent in all aspects, including responsive communication and timely preparing my returns. I would absolutely recommend his services for cross-border tax preparation!

Mohammad from Akif CPA completed my Canadian and US tax returns. He is really knowledgable and informative about cross-border Canada/US taxes. He also took the time to quickly answer any questions I had, which allowed me to stop worrying about my taxes! Would definitely recommend to anyone with cross-border Canada/US tax needs.