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Expatriate Tax Services

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If you're planning a move abroad, or you're already an expatriate, you have more to think about than adjusting to a new culture. Although it may be tempting, you must not ignore your U.S. taxes.

Every U.S. citizen - regardless of whether they are living in the U.S. - must file a tax return with the federal government.

Fortunately, we can help.

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…

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

  • Your host country. Many countries have tax treaties or conventions with the United States, which will dictate how you file 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.

  • Rental income and dividends/interest from assets in the U.S. You must pay taxes on these exactly as if you were living in the U.S.

  • 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.

  • Your holdings in a foreign bank account. Any interest in or authority over a foreign financial account over a certain amount must be reported to the U.S. Treasury Department.

Our Expat Tax Services

Although the IRS offers numerous deductions, credits, and exclusions to expats, taking advantage of them is not straightforward.

Some exclusions vary by country, while others can only be claimed for a portion of the year. In addition, each requires supporting forms and worksheets, which can be more than cumbersome to prepare.

For people who are either planning a move or have already settled abroad, we offer the following tax services:

  • Expatriate Policies, Procedures and Assignment Letters

  • Corporate Expatriate Services - Tax Equalization, Tax Protection, Tax Laissez Faire

  • Foreign Bank Account Reporting - We file the FBAR form for individuals who had above a certain threshold in a foreign account.

  • Compliance - It's not uncommon for expats to fall behind on their taxes. We help you sort through the paperwork, forms, and rules, and get you back in compliance with the IRS.

  • Consulting - If you're unsure if your business needs to file federal or state tax returns, give us a call. We help you get clear on your situation.

These are the most common expat tax services we offer - but it's not our full list. Please contact us to discuss your needs if you don't see them reflected here.

Contact Our Office Today

There's no need for expats to pay more than required - or suffer under penalties and interest - just because the process is more confusing for them.

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!




Get In Touch

At L&V Partners, we've been serving the accounting needs of Andover, MA and the surrounding areas for years. If you need help managing any aspect of your business's finances, we want to hear from you.

Please fill out this form and let us know how we can be of service. We will happily offer you a FREE initial consultation to determine how we can best serve you.

Thank you for visiting. We look forward to working together!

L&V Partners

300 Brickstone Square
Suite 201

Andover, MA 01810
T: +1-978-749-9900
F: +1-978-824-9437
E: info@l-vpartners.com



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