San Francisco is a world-class location where diversity meets success. Many of our clients who live and work in the Bay Area are from other parts of the world. They come for many reasons; a new career, a relationship…the weather. For the majority, English is a second language. Language can still create confusion even for Expats who speak English reasonably well.
For instance, if you are a German expat, you may be familiar with these funny translations:
Jetzt geht’s um die Wurst is supposed to translate to “All or Nothing” in American. Instead, it means, “Now it goes around the sausage.”
When an American says “You are a lucky man” in German (Du Gluckspitz), it translates to “You lucky mushroom.”
We are very familiar with misunderstandings around different languages. And it’s okay to have a good laugh. It also humanizes the experience. The U.S. “language” around tax returns can be just as confusing. And if an expat misjudges their American tax filings, it might lead to unfunny penalties. That’s why we are here to help.
The best CPA firm in California Finds Expat Tax Preparation a Doddle
Are you confused by this sentence? If you’re a British Expat, probably not. A doddle is British slang for “an easy task.” For us, expat and multi-state taxes are pretty straightforward. In fact, it’s one of our specialties. Any foreign citizen living in the US is required to file a tax return. It doesn’t matter if they work for a U.S. company or are self-employed. The percentage of tax owed can depend on many factors too. As a “resident alien,” a foreign Expat must report on financial assets such as; earned income, foreign accounts, passive income, and support (such as property).
We work to leverage the benefits of Expat status with tools like the foreign tax credit or FTC. We also ensure alien residents get full advantage of the Foreign Earned Income Exclusion (FEIE) (https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion). We are used to managing tax returns for UK citizens, Chinese residents, and other foreign visitors who stay in the Bay Area. Some Expat taxes are simple, while others require a little more effort. It all depends on what one’s individual situation is like.
Behind on Your Expat Tan Returns? We can Fix It
Sometimes, a foreign resident is occupied with adjusting to life in the United States and misses the tax return filing deadline. We are happy to step in and put things back in order. The problem of unfiled back taxes by an expat can be solved. And if a foreign national has tried to be responsible and manage their own U.S. tax returns but struggles, we can review the situation. Sometimes an expat may miss significant tax breaks like medical expenses, charitable donations, child tax credits, and housing deductions.
Our goal is to be one of the best CPA firms in California for expat taxes. We are a globally-connected team of CPAs serving foreign nationals from China, India, the UK, and Canada. Many of our accountants speak several different languages. Managing the complex and confusing work of Expat U.S. tax returns is our profession and our passion.