Services for Individuals
American Living Abroad / Expat Tax Services
American Living Abroad / Expat Tax Services As an American living abroad, managing your taxes can be complicated due to unique tax rules, international treaties, and reporting requirements. For these reasons, having a trusted CPA who specializes in international tax planning is crucial. These professionals can guide you through the complexities of U.S. tax laws and ensure compliance with both U.S. and foreign tax regulations.
IRS Masters Team specializes in unique tax circumstances and international tax planning. We are a trusted tax adviser for many Americans living abroad.
What we do for you:
1. Tax Filing & Compliance:
- Preparation of U.S. tax returns (Form 1040) for Americans abroad.
- Filing forms for foreign bank accounts (FBAR) and foreign assets (FATCA).
- Ensuring compliance with the Foreign Earned Income Exclusion (FEIE) and Foreign Tax Credit (FTC) to minimize double taxation.
2. Tax Planning & Strategy:
- Structuring income and investments to optimize tax benefits, considering international treaties.
- Planning for retirement and investments across borders, taking into account both U.S. and foreign tax implications.
- Advising on the best way to move or repatriate income, or in some cases, establishing tax-efficient structures abroad.
3. Expatriation & Dual Taxation Guidance:
- Assistance for Americans seeking to expatriate or renounce U.S. citizenship, including understanding the potential tax consequences (exit tax).
- Guidance on handling dual taxation issues if you’re subject to tax in both the U.S. and your country of residence.
4. Business & Entrepreneurial Support:
- Advising U.S. citizens with foreign business interests, whether you are employed abroad or operating a business.
- Understanding the tax implications of owning a business in another country and filing the appropriate forms, including reporting foreign income and assets.
5. Audit Protection & Representation:
- Representation in case of IRS audits related to foreign income, foreign bank accounts, or international business operations.
- Working with the IRS to resolve any tax issues related to international filings or disputes.
6. Specialized Advice for Non-Residents:
- Managing tax matters for American citizens who are non-residents but still need to adhere to U.S. tax laws.
- Providing advice for those holding assets or investments in the U.S. while living abroad, including U.S. real estate.
Why You Need a Trusted CPA and Advisor:
- Expertise in Complex Tax Laws: U.S. tax law is challenging enough, and when combined with international tax treaties, multiple forms, and local regulations, it can be overwhelming. A CPA with specialization in international tax understands both U.S. tax law and the tax systems of various countries, allowing them to help you navigate potential pitfalls and avoid costly mistakes.
- Tailored Solutions: Every expat situation is unique. A trusted CPA can offer personalized strategies based on your specific needs, such as whether you have foreign investments, are married to a non-U.S. citizen, or plan to return to the U.S.
- Peace of Mind: With the help of an experienced CPA, you can rest assured that you’re meeting all your tax obligations, avoiding penalties, and minimizing your tax liability while living abroad.
Your Business, Our Expertise
By partnering with a specialized CPA, you ensure compliance with U.S. tax laws while optimizing your financial situation as an expatriate.
