International tax is one of the few areas most CPAs and lawyers don't practice. A survey once stated that only 3% of CPAs in the nation feel comfortable in the areas of international taxation. What is international tax?
When people think of international tax, they assume it means tax returns from foreign lands. While Beta can arrange for those taxes to be handled too (more on that below), international tax is really US taxes for those US citizens and tax residents, who have international tax consequences. Potential international tax issues for US tax residents are as follows:
One of the common misconceptions people have is when people arrive in the country, they file a tax form, just like US citizens. This could not be further from the truth. There are certian situations where dual-status tax returns are needed, others when nonresident (Form 1040NR) tax returns are needed. Determining which form to file and the best position to take in the interest of the client, requires a CPA with skils and experience, which most tax preparers don't have. We have expertise in the preparation of the following tax returns for those arriving in the US:
For those who are US Citizens or Permenant Residents, going and working aborad can be a very rewarding experience. What happens when you go to pay taxes, while living in a foreign country? Well, you might have a legal obligation to file tax returns in a foreign country, but here in the US, you still have the obligation to file and in many cases, pay taxes on the income you earn in a foreign country. In otherwords, you face "double taxation." Does that sound fair? Not really, but there are tax rules to reduce or eliminate the effects of double taxation. We can help with the following forms to assist: