Federal tax return for expats

If you earned income while living abroad, you want to avail of the deductions, exclusions, and credits available
to expats, and be aware of additional foreign reporting rules.

Our Federal Tax Return Package oxers standard forms and schedules.

TaxProOne always oxers…

U.S. Taxes for Expatriates – Pitfalls and Traps

To ensure a smooth tax-filing process, you must be well informed. If you take up residence in a foreign country without exploring the tax ramifications, you may find yourself paying more than you expect to the U.S. government or your home state – as well as penalties and interest.

Some of the important considerations include…

Whether you are self-employed.

You must pay self-employment tax on your income, even if you can exclude it as foreign earned income on your income taxes.

Amount of foreign earned income.

You can deduct a substantial amount in-earned foreign income from your U.S. taxes

Which state you most recently lived in.

Some states do not have income taxes; others make it difficult to sever your ties with that state. Depending on which state you most recently lived in, you may need to file a state return.

Your host country.

Many countries have tax treaties or conventions with theUnited States, which will dictate how you file your U.S. taxes.

Rental income and dividends/interest from assets in the U.S

Regardless of your location, these are subject to taxation as if you were residing in the U.S

Your holdings in a foreign bank account.

Reporting any interest in or authority over a foreign financial account exceeding a certain threshold is mandatory and must be reported to the U.S. Treasury Department.

Let us help you navigate the tricky waters of U.S. taxes for expats. Give us a call or send us an email today – and use more of your money to enjoy your life abroad!

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TaxProOne’s proficiency turned into significant savings for our company. Their custom-tailored assistance, meticulousness, and forward-thinking strategies render us an essential ally.
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Thanks to Tax Pro One, I navigated the complexities of expat taxation with ease, finding confidence and clarity in their professional guidance and dedicated support.
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With TaxProOne, the maze of tax obligations became manageable. Their expertise, promptness, and commitment ensure the solidity of my financial path.
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Federal tax return for expats