Expat Taxes

[Dumb Pilot]

Any recommendations on good tax folks specialized on for foreign income?

 

[redeye69]

Expat taxes

Yeah, I just found a CPA that lived in Europe for 6 years and is familliar with foreing income. I work in France and do not make any money in the US, but I reside in the US. Well, it took me the longuest time to find someone qualified to help me: Frank Ciaburri, CPA. Works at Habif, Arogetti & Wynne, LLP in Atlanta, GA. (404)898-7583. And like most CPA, he is hard to get in touch with. Good luck.

 

[gcaflyer]

I used to use Ernst & Young out of Houston. They had a good expat tax department. It's been about 15 years ago but last I heard they were still good.

 

[Flt 525]

Palazzo & Company

I have been working in Iraq for 26 months and have used Steve Palazzo of Gulfport, MS. Service is excellent.
He is a former ex-pat and knows the foreign income laws very well. He is a Republican and a member of the Mississippi legislature. His fee is a flat $450.00 for tax form preparation. Contact the firm below and someone will get in touch with you:
www.palazzocpa.com or 866-272-9224.

 

[Dassault747]

Any recommendations for the Detroit area?

 

[typhoonpilot]

Turbotax

 

[Say Again Over]

Like the previous post indicates, it's not too complicated of a process, the only reason I use a CPA is because of rental property and other investments.

 

[Dumb Pilot]

Is not a matter of it being difficult as much as it is time consuming. Like you I also own rental property, a side business, my wifes realtor career and the expat contract angle. I don't think Turbotax will work for me

 

[countbat]

Maybe is a stupid question but if someoe works outside of Uncle Sam's reach why bother filling for tax return? It is not a declared income. It doesn't exist, it shouldn't be declared. Right?

 

[Regional4life]

Only a certain amount is untaxable. I believe it's up to $84,200 that's tax free. After that, you have to pay taxes on anything earned above that. Even if you make less than that, Uncle Sam still requires you to tell him.

 

[Say Again Over]

Check out or buy the latest US Tax code, not too hard to read, basically as a US citizen you are required to declare your world wide income, there are over 200 treaties with other country's to set up a rate, no treaty and it defaults to 30%. Exclusions include, resident status in that country or being out of the USA for more than 330 days a year and there are others.

Countbat, the main reason would be that most Americans have to send the vast majority of the income to accounts in the states.

 

[Dumb Pilot]

In a post 9/11 world countbat, where all information is available and shared. It is just a matter of time before Uncle Sam will get you, It could be as close as your next passport app.

 

[tyuwerty]

Uncle Sam will probably get you before the next passport app.

Frequent wire transfers into the USA or bringing large amounts of cash across the border are red flags.

Remember, you have to declare any cash or financial instruments over 10k, going in or out of the USA.

You also have to declare all foreign bank accounts in your name if their aggregate value is greater than 10k. This report is to the DOJ each June not the IRS.

 

[countbat]

All I know is if i didn't have onions for lunch I will not smell like onions. Uncle Sam will love to tax every single of us 'till will dry us dead. Except the air wel pay taxes for everything. I have a feeling some day we will pay for that too. Look at the burden on homeowners. Sooner or later every homeowner will get in foreclosure. American dream of owning a house has become a nightmare trap to squeeze every drop of blood out of you. If I can make decent money outside the country and buy propety with no taxes sign me for it. More and more rich SOBs are living outside the country like US is not good for them. Everybody is for the grabbing, stealing, cheating the american people. The only rights we have left are to shut off, to eat from Wall-Mart and get fat.