US Tax Advisor London

US tax advisor London is the one who can only help you understand the whole taxation system of US in the best possible manner.

US Tax Advisor London

Basic Rules For US Taxes For Americans Abroad

If you are a resident of the U.S. or a US occupant living abroad, the rules for the filing estate tax, income tax, and gift tax returns and paying the estimated tax are usually the same. No matter if you are living in the United States or abroad, your comprehensive income is subject to the U.S. income tax directives, and you are a part of the US Taxes For Americans Abroad policy.

US Taxes For Americans Abroad

Calculating Federal Tax Return In US

In the US tax system, US residents having the source of foreign income is taxed at the same marginal rate as any other income earned by the people living inside the country.

If you are an American living abroad or a Green Card holder, your taxation amount will be as following:

·         For citizens filing as a single taxpayer – $10,300

·         For citizens filing tax as self-employed – $400

·         For citizens filing as a married taxpayer, filing jointly – $20,600

·         For citizens filing as a married taxpayer, filing separately – $4,000

Even if you are not living in the US and have income from a foreign source; the amount of US Taxes For Americans Abroad remains same, as mentioned above.

Where to File Tax?

If you are a U.S. citizen or resident alien including the green card holder and you are currently living in a foreign country; then you can file your tax at The Department of the Treasury, Internal Revenue Service Centre, Austin, TX 73301-0215, USA! Also, the taxpayers with an Adjusted Gross Income (AGI) within a particular threshold can digitally or electronically file their tax return for free of cost using ‘Free File.’

Tips Get Maximum US Tax Returns On Less Income

We are at the closing stages of 2018; it’s high time for everyone to start adjusting their income sources and strategizing about how they’ll be handling their federal tax bills. In compared to other economic years; this year the procedures of US Tax Returns have become even more complicated because of the multiple changes made to the existing tax rules.

Thus, this year, there is a lot to understand and to keep track of. So consumers and taxpayers who are getting up for filing their income tax returns in the US should consider having an earlier start to avoid any last-minute troubles or confusions at the end of his financial year; when the tax filing and return date is due.

US Tax Returns

Consider the below-given smart US tax-planning tips to prepare now and to save later.

Ø  Do invest in tax planning earlier! Proper tax planning is the smartest way to maximize your tax returns in the US.

Ø  If have received a full-time employee position in an US-based company, the first step is to fill out IRS tax form W-4 so that you can save huge on tax returns in a later stage!

Ø  Deductions for all the charitable donations can offer you substantial savings on your US Tax Returns; thereby making a significant and profitable variation in your yearly refund.

Ø  New modifications in the existing tax law can bring you a lot of tax deduction; only if you know where to look for! So always use current tax laws and procedures to make huge savings on your tax amount.

Essential Tips For Sorted US Tax Preparers UK

With the end of 2018 is around the corner, it’s high time to begin strategizing about how you’ll be preparing for tax filing and how you’ll handle your federal tax bill. If you’re a permanent resident or citizen of the U.S. or at least a green card holder living in the United Kingdom, understanding, preparing, and filing U.S. taxes can feel like the most complicated procedure you ever have gone through.

US Tax Preparers UK

Multiple changes and modifications to the US tax rules have gone into effect, and thus you have to understand the procedures before gearing up for tax filling thoroughly. Below, we have compiled a list of the top things that all taxpayers should know about US Taxes Preparation UK! If you are up for filing US taxes; these are the points which will help you sort through the multitude of intricate information!

·         Prepare a checklist to get organized with your tax filing requirements! Keep your bank account number ready; verify all your income sources, and your other tax credits arranged. 

·         Authenticate your personal information like Your Social Security Number (SSN), Your spouse’s Social Security Number (if married), and your Social Security Numbers for any dependents before filing tax!

·         Double-check your work, income, and additional salary before preparing tax filing! Keep all the documents ready for federal tax return and get your income adjusted properly before preparing for tax return.

·         Know your tax filing deadline and give yourself enough time to understand the directives! If needed; go for additional or professional help for US Tax Preparers UK!

5 Helps You Should Get From US Tax Advisor London

Moving through and thoroughly understanding the tax codes of the US can be a really-really daunting task. And if you’re a US expat; then the information even gets more complex and more confusing. Everyone’s expat needs and circumstances are unique, and you really don’t need to sift through the multitude of pages for finding the information that is actually relevant to you.

In such a case, you need the help of a US Tax Advisor London who can guide you through the entire complicated procedure of taxation in the US and let you live a secure and simple life.

ü  Filing US Federal Tax Return Is Essential! If your worldwide incomes including salary, Interest, Dividends, and Rental Income exceed the amount of the filing threshold; then you must file a US Federal Tax Return every year.

ü  If you have made any mistake while filing the previous income tax; you can amend it with US Expat Tax Help UK using form 1040X.

ü  Most of the US expats are capable of offsetting all of their foreign earned income including Foreign Tax Credit, Foreign Earned Income Exclusion, and Foreign Housing Exclusion so that they won’t pay taxes twice for the same income.

ü  If your income goes beyond the Foreign Earned Income Exclusion (FEIE) or you are residing in a high-tax country; then the Foreign Tax Credit (FTC) allows you to offset or completely eradicate your tax liabilities in the US.

ü  To use the Foreign Earned Income Exclusion; a test called ‘Physical Presence Test’ requires proving that you are physically presented inside a foreign country for 330 days of any 365 days.

US Tax Advisor London

US Tax Advisor London

A professional US tax advisor London can bring so many helps to the client’s table. Such a US tax advisor London can help you understand more about the US taxations system for the expats.