There are many reasons that people choose to live outside of the country they once called home. Some people marry someone in another country while others find that the perfect job for them requires them to move a great distance from their current location. Still others simply find that another country just feels more like home. For these reasons and many others, there are US citizens living as expatriates all around the globe. Living abroad can be a wonderful and rewarding experience, but unless you give up your United States citizenship, the US still taxes you on your worldwide income, no matter where you live. An expat tax advisor can help you get a handle on your US expat taxes.
Why Hire A Tax Advisor?
The saying goes that money makes the world go 'round, and even if your world doesn't revolve around money, it's still an important part of life. Your taxes are more than just a financial matter; they're a legal matter as well. Errors with your taxes can get you in trouble with the law, even when you have the best of intentions. For such a vital matter, it's best to hire a professional to make certain everything is done in the right way at the right time. A tax advisor will be able to help you know exactly how to deal with your US expat taxes.
What Else Can A Tax Advisor Do For Me?
There's no denying that it's helpful to have someone assist you with your taxes, but tax advisors are also there to answer all of your questions regarding US expat taxes, and other matters as well. Are you wondering how foreign taxation works? Do you need to know if you qualify for tax exclusion? Are there any tax treaties that stand to benefit you by saving you time and money? A tax advisor will know the answers to these questions, or will be able to assess your situation and get those answers in an efficient and accurate manner.
Choosing A Tax Advisor
When you're looking for a tax advisor, there are a few things to keep in mind. If your current home is in a far-off time zone, make sure to choose a firm that will be able to serve you during your business hours. Find out which firms specialize in your country of residence. If English isn't your first language, it can be very helpful to work with a firm whose advisors can deal with US expat taxes in your preferred language. Don't be afraid to shop around!
Don't Put It Off
As with all tax matters, it's best to get your US expat tax processes done in a timely manner. If you run into complications, it's much better to have time to deal with them without the pressure of a time crunch. Being too late on your taxes can get you in trouble with the law, and that's a headache that nobody needs. Contact a tax advisor and find out the best way to proceed.