Our CPA firm features an innovative expat tax preparation system that expedites the preparation of your US tax return no matter where you live in the world. We have a secure client portal system, which allows us to retrieve your tax documents and to provide our completed returns to you through a system that is much safer than e-mail. We also have Skype technology available for voice and video conferencing to help facilitate communication. Information technology now allows Americans around the world to obtain our professional CPA assistance no matter where they live.
Williams & Parsons prides itself on offering an extensive choice of expat tax services, as well as open, transparent, flat-fee pricing.
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We specialize in Federal Tax Return Preparation for Americans living abroad, foreign nationals and those who have recently repatriated to the US. FIND OUT MORE»
Some expats need to file a State Tax Return even while living abroad. Whether you need to file a state return or not depends on the last state you resided in and your ongoing association with that state. FIND OUT MORE»
FBAR stands for Foreign Bank Account Report. The US Treasury has the authority to collect information from United States persons who have financial interests in, or signature authority over, financial accounts maintained with institutions outside of the United States if the aggregate maximum values of the foreign financial accounts exceed $10,000 at any time during the year. FIND OUT MORE»
In the Fall of 2012 the IRS announced “Streamlined Filing Compliance Procedures.” The Streamlined Filing is essentially an amnesty program and is a great improvement over prior IRS programs. If you were a nonresident of the US, and met a few other criteria, you could file 3 years of tax returns and 6 years FBARs and be compliant and not be penalized. FIND OUT MORE»
Generally speaking, US Citizens are subject to estate tax if their total worldwide assets are in excess of $5.49 million (for people passing away in 2017), that limit is extended for inflation and increases annually. Estate planning and taxation for Expats needs to take into account the legal system and estate tax rules of the country that an Expat lives in. The US will tax worldwide assets, but will normally provide a tax credit against estate tax paid elsewhere.
If you are the beneficiary of a foreign estate, the US will not tax that foreign estate. However, being a beneficiary of a foreign estate can create multiple US tax filing requirements, including FBAR reporting, foreign trust and gift tax returns on Form 3520. If the estate has US based assets, the US state estate tax returns could also be required.
Expats should consider seeking legal advice on estate planning and drafting of wills from attorneys that understand both the US and foreign laws, particularly if the Expat owns assets in the US and within their country of residence. Expats need to consider foreign regulations as it related to Trusts and Powers of Attorney and health directives.
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I began using Williams and Parsons after having an unfortunate experience with another firm in the US. Brett Sweezy, CPA was not only incredibly thorough in cleaning up the mess but provided a fresh look at my finances and has been pleasant to work with. I am so happy with the honest, reliable and efficient service I have received from Williams and Parsons. I highly recommend them!