International Tax

Many businesses and residents of the San Francisco Bay Area have overseas exposure. They may own a business or property in Germany or China, the UK or Taiwan, India or even Canada. Presto! They may look for an international tax CPA firm right here in San Francisco, California.

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Accountants Who Get International Tax Preparation

International tax preparation can be complicated. More than one country, more than one business, and even more than one stream of income. Many San Francisco Bay Area residents are foreign nationals, US permanent residents, or US citizens with substantial assets in countries such as China, the Philippines, India, or even Germany or France. Having foreign assets creates US tax implications. We’re well-known as an international tax CPA firm based in San Francisco, California.

International Tax

Don’t go crazy with international tax preparation issues. Our tax professionals based in San Francisco, California, can optimize not just your US or California taxes but work with overseas tax professionals in Canada, the UK, Taiwan, China, and other countries so that the tax bite is less.

International Tax & Accounting

The reality is that San Francisco is an international city. Residents and non-residents alike often come from a diverse set of backgrounds. International visitors come to work (and play) here in San Francisco. In fact, we work with a wide array of businesses, nonprofits, and government entities that incur California, federal, and even international tax issues. We work as well with many individuals who are foreign nationals working in the USA and/or USA nationals working abroad. In those cases, they may need so-called “expatriate tax preparation.”

Whatever your potential international tax exposure is, reach out to our team for a consultation. Our team members are CPAs, bookkeepers, and specialized accountants who have deep international tax experience; in many cases we have partner relationships with tax advisors in Canada, the United Kingdom, Germany, China, India, and other overseas destinations who know the local laws and tax requirements. Indeed, persons who are not US citizens but have US income face special tax issues. You may have 100% of your income in the United States but technically still be a citizen of a foreign country like China, the Philippines, or Israel. You may be a permanent resident, or you may be a student here on a student visa. Many people come to us with H1 visas as well. But whether your income is 100% in the United States or 80% in the USA and 20% abroad it is important to talk with a tax professional who understands international taxataion.

Questions and Answers on International Tax & Accounting

Q. Do I have to pay international taxes?
If you have a business, property, bank accounts, or investments outside the United States, you will pay international taxes. That includes American citizens, and U.S. resident aliens who receive earned income abroad. It’s also essential to submit a list of any foreign financial accounts, regardless of whether they generate taxable income or not. See our page for FBAR (Foreign Bank and Financial Accounts) for details.International Tax Service - San Francisco, CA

Q. Do dual citizens pay taxes in both countries?
The short answer is “yes.” Whether you currently reside in the United States or another country, dual citizenship and taxes go hand in hand for Americans. Filing international taxes can be tricky, and an uninformed individual can make honest mistakes. Many San Francisco residents frequently move back and forth between countries like China, Taiwan, the U.K, and Canada. Between travel and managing business and finances, it can become overwhelming. Our accountants are experts in dual citizenship IRS filings and can handle the pressure.

Q. What countries tax worldwide income?
You could say we are in a very small clique. United States residents are only one of three countries that forces international taxation requirements that tax residents and non-residents must pay on overseas income. The other two countries include Myanmar and Eritrea. Working with a U.S.-based international tax accountant can be the best move. Our skilled CPA team will review your accounts, find the right strategy, and use tools like the foreign earned income exclusion and foreign tax credit to help with your global tax return.

Q. What does an international tax accountant do?
It seems simple; an international tax accountant fills out and files your foreign tax forms, right? To us, it’s much more than that. A top CPA goes beyond normal expectations, to ensure your global tax filing is a breeze. That means knowing your business and reviewing all property, work, and assets. It also means staying on top of new changes in the tax code to remain compliant. Maybe it’s easy to define what an accountant does, but international tax itself isn’t simple. It demands a competent, hard-working CPA dedicated to an individual’s complex worldwide tax returns.

Q. How is international income taxed?
It depends on the circumstances; there is no “one way” to tax worldwide income. Our CPAs understand the intricacies surrounding international tax, such as; expatriation tax, working for a foreign employer, and filing status for foreign dependents. Safe Harbors’ expert accountants manage overseas tax preparation for San Francisco businesses and individuals. They understand the foreign currency exchange rate and how it impacts an international tax filing. The goal is to work smart and deliver expert financial guidance and support to individual worldwide tax preparation.

As you can see, international taxation is complicated. Your best step is to reach out for a CPA firm that focuses on international tax. Our international tax accountants are based in San Francisco, California, but we service clients throughout the entire state – from Los Angeles to San Jose, Sacramento to San Diego, and everywhere in between. The world has “gone global” and our international taxation CPA firm can help you minimize that nasty tax bite.