Can tax filing be easier?

on Thursday, 7 March 2013. Posted in , , ,
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A cheaper option for US expats

This article was originally posted on Caterer Goodman’s online blog: China Expat Money.

drive me crazyCan you believe that taxes are due in April, and we are almost already there?.  Recently, I have received a few tax questions from clients on the new IRS policy FATCA and dividend withholding taxes.  It seems like every year there are new policies specifically designed to annoy expatriate Americans like us.   We are financial planners, not a CPA firm, so we prefer to refer to a tax accountant.

Recently I met with a few organizations to see what the best deal could be for clients.  I met with Taxback who specialize in helping expatriates file taxes away from home.  I’d prefer these guys over a US based advisor as Taxback focuses on overseas tax policies while US based might not be as familiar with handling the intricacies of an expat tax return.

The fee for the basic package is $300 USD which seems quite competitive.  If you prefer a personal face to face service then you will likely be paying quite a bit more even for the simplest of returns.

If you haven’t filed yet, myself included, it may be worth the time to consider using this service.  While I have not used it personally, they seem to be very experienced (according to them, over 268,000 returns filed worldwide in 2012).  That’s all I really need.  Also, with all the complications of American Tax law, which seems every changing these days, it is best to leave this to the professional accountants who can keep track of all the changes.

I’d recommend filing on time especially if you owe money as Uncle Sam has renewed efforts to track down money owed.   Do keep in mind, that if you need more time, expatriates can request an extension for up to 6 months.   That is one small benefit of being an expatriate.

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