Allow me to take the hedache out of tax so that you can focus on your family and business.
As members of the US Military and Foreign Service, you face a unique set of life circumstances. Throughout your careers you are faced with constant change and uncertainty. With frequent CONUS or OCONUS moves, you not only have to face the stress of the move itself but also the stress over what you are leaving behind. One of the contributing elements to that stress is tax compliance. Many times, members of the Foreign Service and Military communities must leave real estate behind, spouses transition to remote work, move businesses with them, or obtain employment in a foreign country. These are but a few of the many circumstances that create unique tax compliance situations. Navigating all these nuances can be overwhelming. Anna Vutera is a proud military spouse and an EFM who has faced first hand these unique circumstances. Her knowledge and experience not only will save you time and money, but also take the stress out of tax preparation and filing so you can direct your attention to other important aspects of your life.
Very often US citizens and resident aliens (Green Card Holders) assume that if they are living and working outside of the US, they are not required to comply by US tax law. In reality, US citizens and resident aliens living and working abroad are still required to comply with US tax law. This means that they must file US federal and state (if applicable) tax returns and report their worldwide income. It is also important to note that double taxation is a possibility; however, US tax law and bilateral tax treaties offer a relief, partial or full, from double taxation in certain circumstances.
The same is true for foreign nationals living and working in the US. They are also required to comply by US federal and state (if applicable) tax law.
Additionally, anyone subject to US tax compliance can also be subject to Foreign Bank Account Reporting (FBAR) and adherence to the Foreign Account Tax Compliance Act (FATCA), regardless of whether they live in the U.S. or abroad. There are numerous other reporting requirements involving foreign assets, income, and ownership. These requirements are complex and detailed.
It is important to work with an experienced professional that will be able to assess your specific case and identify all filing requirements specific to your tax situation. Anna Vutera works with Expatriate and Foreign National clients has the experience to guide you through the maze of complex and constantly changing US tax requirements.