Expat Tax Preparation

Expat Tax Return Preparation

Over a decade of working overseas (in Germany and the U.K.) Nicholas Hartney, EA, CAA, has worked with military contractors, federal employees, employees working for foreign employers, self-employed persons working overseas, and also non-U.S. citizens working in the United States.

Each situation has its unique nuances for reporting foreign income and avoiding double taxation by both countries. Sometimes it is better to use the Foreign Earned Income Exclusion, other times it is better to use the Foreign Tax Credit, sometimes you may need to use both. This requires a preparer with knowledge of how each benefit affects not only your federal return but also your state return.

For example, most State tax returns do not allow any foreign tax credits however, with the exception of a few, most do allow the Foreign Earned Income Exclusion.

If you open up a foreign bank account or have other foreign financial assets, such a foreign pension, you may now have a legal obligation to disclose these assets on both your tax returns and also through the Financial Crimes Enforcement Network (FinCen) by preparing a Form 114.

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