CPA Firm specializing in Expat and International Taxation
With an increase in globalization, it is becoming easier for individuals to live and work out of their country of origin. While increased globalization offers many benefits, it also brings with it significant challenges around for foreign workers who are attempting tax planning and preparation outside of their home countries. Each country has its own tax laws and regulations; U.S. Expats, both individuals and companies, need to be aware of international tax regulations to ensure that they remain compliant with relevant tax laws while avoiding penalties or overpayments. At Sigma Accountants LLC, we can help you successfully plan and file your tax return to take this complicated financial burden off of your plate.
Expat Individual Taxation
No matter where they live, every US citizen must submit an annual tax return to the IRS and pay any tax liabilities that they have incurred. This can be difficult to organize if you are living abroad. It can also be difficult to keep up with changing tax legislation if you are out of the country. This means that you may miss out on beneficial deductions or credits.
We at Sigma Accountants LLC understand the issues that can arise when filing an international tax return. We also understand the incentives and benefits available to international tax payers such as Foreign Tax Credit, Foreign Income exclusion etc.. This allows us to provide advice and guidance on international tax planning. Based in Columbia, MD, we are able to assist clients from all over the globe through our secure portal.
Many people who are attempting to file an international return have special circumstances that add an extra layer of complexity to their finances planning and preparation. For example, many US citizens who work abroad can claim Foreign Earned Income Exclusion, which enables them to earn a salary up to a set threshold before they need to pay tax in the US. However, there are exemptions to this exclusion, including employees of the US government. Military families are able to claim certain exclusions and deductions that were introduced by the Military Families Tax Relief Act of 2003.
To find out if there are special circumstances that affect your international tax planning and preparation, contact our us today for tailored advice based on your unique circumstances.
International Business Taxation
When you operate a global business, it can be difficult to decide where best to file tax returns and pay tax. The complexities of the different systems under which your business operates can make it difficult to decide which system will deliver the most beneficial tax rates and incentives. For advice on the relative merits of the systems under which you can be taxed, you can turn to Sigma Accountants LLC. International tax filing, preparation and planning are part of the individualized services we offer to global businesses.
Sigma Accountants LLC has tax planning expertise in a number of different countries, including Mexico, United States, India, China, the United Kingdom, Canada, Iraq, Afghanistan and the Middle East.