As a US citizen, moving abroad is not the end of your US taxation filing requirements. If you ignore, or are unaware of your obligations you can face significant penalties for non-compliance.
Since the introduction of the Foreign Account Tax Compliance Act (FATCA), some foreign jurisdictions will automatically report your overseas bank account information to the Internal Revenue Service (IRS). This means the IRS may be aware of financial information that is omitted from your tax filing information.
Our team provide comprehensive advice regarding the tax implications of moving overseas, changing tax residency and any foreign companies or trusts you may have.
Our goal is to ensure you are aware of the potential tax consequences of your options, so that you can obtain the optimal income tax position for your personal goals and circumstances.
HOW WE ASSIST AMERICANS MOVING ABROAD
DEPARTING USA TAX REVIEW
When you are moving overseas for the first time, you need guidance on the international and US tax consequences of your move. We provide a comprehensive review of how your change in tax residence impacts your assets, your ongoing tax obligations, and any exit taxes.
TAX PREPARATION
We provide assistance for all your individual tax return needs. This includes preparing and lodging your Individual State and Federal tax returns, including Forms 1040 and 1040NR.
GIVING UP CITIZENSHIP OR GREEN CARD
Those wishing to give up their American citizenship or green card have specific tax obligations that need to be met. As specialists in international taxation we will assess your situation and explain your obligations.
CUSTOM ADVISORY
A custom tax strategy is prepared for your goals and needs when you engage us for custom advisory services. We begin with helping you understand the facts of your current situation, assessing your goals, and providing you with clear advice regarding your opportunities, risks, and relevant strategies.
MOVE ABROAD WITH CONFIDENCE
Moving overseas isn’t the end of your US tax obligations. Contact us now to ensure you stay up to date and obtain tax effective advice for your situation.
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NEWS AND UPDATES
Key tax issues you need to consider before (not after) you move abroad
24th Jan 2023
John Marcarian
Moving abroad is one of the most challenging things that many of us will do My move to Singapore in March 2004 was a completely foreign experience in so many respects There are so many logistical...
Planning what happens with your Pension Fund or Superannuation when moving abroad should be a top priority
27th Oct 2022
John Marcarian
Most expats moving overseas will have some form of pension or superannuation plan In my experience changing one’s tax residence does not of itself impact how that pension plan is treated in...
Australians Moving to the USA: Understanding your Tax Residency when moving to the USA
4th Jul 2022
Jurate Gulbinas
As an Australian moving to the United States, it’s important to understand what this means for your tax residency status This is because your tax residency status will determine how your income...