April 16

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Should You Get an International Tax Consultant?

By Brett Farmiloe

April 16, 2021

Even when you have a simple financial situation, US taxes are complicated. Add issues like foreign-earned income and being an American expat into the mix, and you have a tax situation that can feel overwhelming.

At Tax Law Expats, we understand the stress expats feel when US tax season comes around. After all, we have been helping to relieve that stress for more than 25 years.

So, should you get an international tax consultant? We think so. And in this post, we explore some of the benefits of working with an international tax expert. For more information, keep reading to learn the benefits of consulting international tax expert and experienced tax attorney Jason Kovan, Managing Partner at Tax Law Expats.

Benefits of an International Tax Consultant

Consulting someone who is experienced in giving international tax advice for individuals is beneficial when navigating US tax requirements for expats. Below, we look at some of the benefits of working with an international tax professional.

Comprehensive Understanding of Tax Law Unique to Expats

Living in a country other than the US isn’t the only thing that makes your situation different from that of many other Americans. Your taxes can look a lot different, too.

For one thing, most US taxpayers don’t have to think about things like the Foreign Earned Income Exclusion or Foreign Housing Exclusion. But as a US expat, you must consider these tax requirements. What do these tax requirements mean, exactly? What are you required to submit when filing your taxes each year? An international tax consultant can help you identify the forms you must file as a US expat. By consulting an international tax expert, you can avoid any unnecessary risks you may encounter when filing yourself, such as unintentional mistakes, late filing penalties, or even IRS audits.

Another unique requirement for US expats is income taxes. The requirements for your income taxes may vary depending on where you live. The reason that this can vary is due to the various tax treaties the US has with other countries. These tax treaties were established to prevent double taxation and explain the expected requirements for US expats who live in a particular country.

These are just a few of the many unique tax issues that expats face. In a word, taxes for expats are difficult — so difficult that many expats never file their taxes. That is why so many expats turn to an international tax expert for specialized guidance. This way, you can ensure you remain compliant with US expat tax requirements.

Expert Help With Tax Preparation and Compliance

If you are like most people, when you go to file your US taxes as an expat, you may wonder: Have you prepared your taxes correctly? Are you in compliance with the seemingly endless list of US tax rules you are subject to?

It can be difficult to ensure you are compliant when filing your own tax returns as a US expat. Without a comprehensive understanding of tax filing procedures, you can unknowingly make mistakes or omissions when you file.

Thus, the best way to ensure you are compliant when filing taxes as a US expat is to consult an international tax expert. When consulting an international tax expert, it is important you consult with one that has the right experience and background that align with your needs.

Consulting with International Tax and Accounting Specialists

For countless expats, working with an international tax expert brings enormous relief. But there is a problem: Many expats seeking international tax advice for individuals and end up with a tax professional who isn’t a tax attorney.

Why does that matter?

Because a tax consultant who isn’t a lawyer cannot provide you the protection of attorney-client privilege. Without that protection, the things you tell your international tax consultant are not private if you ever end up in court. This can cause US expats to hesitate when consulting an international tax consultant, especially if they have not filed their taxes. Thus, it is essential that your first point of contact is an experienced tax law attorney.

Receive Tax Law and Accounting Services from Tax Law Expats

Whether you wish to become tax compliant or plan to move overseas, it is crucial to consult an international tax expert. When you work with Jason Kovan, Managing Partner at Tax Law Expats, you are consulting an experienced international tax attorney with over 25 years of expat tax law experience. Instead of consulting a CPA or EA first, you can receive attorney-client privilege by consulting with a tax law attorney. In addition to expat tax law advice, Tax Law Expats provides you with CPA and EA services under one roof.

To schedule a consultation with Jason Kovan, Managing Partner at Tax Law Expats, call (305) 600-5924 or reach out online.

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