Our services include personal and corporate income tax filing, ITIN applications, repatriation or “Exit Tax” calculations, and consulting services covering a wide range of tax related concerns for non-resident U.S. tax filers, including tax equalization calculations, FATCA compliance, Offshore Voluntary Disclosure Program (OVDP), global tax planning strategies and many other important concerns for Americans living and working abroad.
U.S. Tax Form Preparation and Planning
Our highly trained, experienced professionals provide fast, affordable, and professional U.S. tax filing services to American citizens and green card holders living abroad. Behind on your taxes? Contact us today for a free consultation – we are here to help you get back on the grid!
Fincen Form 114 – FinCEN Foreign Bank Accounts Form? (FBAR)
As a US person, you are required to file with the Department of Treasury a report of foreign bank and financial accounts (Financial Crimes Enforcement Network (FinCEN) 114, Report of Foreign Bank and Financial Accounts (FBAR)) if the aggregate balance of your foreign accounts (both bank and others) exceeded US$10,000 at any time during the year. The reporting requirement applies not only to accounts owned by you but also to accounts that signature authority over, but no financial interest in.
Foreign Earned Income Tax Exclusion and Foreign Housing Exclusion
If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. If you meet certain requirements, you may qualify for the foreign earned income exclusion, which allows you to deduct the allowed amount (changes each year – max $100,800 for the 2015 tax year) from your taxable income. Also available as a potential deduction is the housing exclusion. which can be used for housing paid by your employer (and taxable as foreign income).