>From: chris@xxxxxxxxx
>
>I'm in need of someone who professional does U.S. income tax
>returns. In particular, this person should be familiar with the
>requirements and rules for reporting non-US income.
I can't help much with a tax pro, but the rules are pretty simple if you are a
US resident: you pay tax on foreign income. In return, you can take a foreign
tax credit for any foreign taxes you may have paid on that income, limited to
your US tax liability on said income.
In short, you end up paying the greater of the US or the foreign tax to
someone. It sucks.
If you are residing outside the US for an extended period of time (something
like 480 days out of a 510 day period?) the situation may be better, or worse.
In that case, you can exclude a certain portion of your income ($70,000 at the
time, for me) but it comes off the BOTTOM - your 70,001st dollar is taxed at
the marginal rate for that bracket. And you lose at least part of your foreign
tax credit.
If you aren't interested in learning this crap, and you REALLY want an expert
(at an expert's cost), I'd suggest finding a big accounting firm that operates
in the country where your non-US income is from. That way, they'll be able to
help you with either country. Each country has its own tax treaty with the US!
The US is one of a small handful of countries that tax its citizens on
non-resident income.
Try looking for KPMG, Price Waterhouse, etc.
If you need a Swiss Treuhand, I can recommend someone.
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