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.