It is very true that US taxes are complicated. They are pretty much designed that way because there are so many different loopholes and legal situations which a taxpayer can be in. It means that two people doing exactly the same job and getting paid exactly the same amount, can easily end up paying different amounts of tax, depending upon a whole range of different circumstances.
However, if you think that US taxes are complicated – which they are – what about international taxes? When you have income from different countries as well as the US, it becomes a whole different ball game.
At Safe Harbor, we have clients who have income from many different overseas sources, and they come to us because we are international tax experts. You may be a US citizen, a permanent resident, or a foreigner residing in the US, but whichever it is, if you have income from overseas you need to talk to us as international tax experts, because we have the knowledge that is needed. There are lots of CPA firms in San Francisco and the wider Bay Area, but most of them only deal with US taxes. That is no good at all if you have income from other countries.
Not A Cent More
Our job is to ensure that every one of our clients pays not a cent – a penny, centavo, poysha, peso, ore, piastro, paisa, rupia, agora, rin, or anything else – than is required by the law. As you can see, that gets complicated – and we have only picked out a random smattering of different currencies there. There are a lot more.
Let’s face it, if you have income from, say, Japan, you may have to pay tax on it in both Japan and the US. Then again, maybe not. When you look at all of the many different situations that a US citizen can be in and then multiply that by the rules and regulations of however many other countries one of our clients may have income from, you can see just how complex things can get.
This is why, if you have income from sources outside the US, you need to use us as international tax experts because, if you don’t, you could end up paying far more tax than you are legally required to both here in the US and in whichever other countries are applicable. This is true even if you only have income from one other country.
So, if this is your situation, make an appointment to talk to one of our international tax experts, and let us do the donkey work.