A Professional who cares..About YOU!
Relocation Tax Services
Whether for personal reasons or for business, whether domestic or international, relocation is a stressful life change that complicates one’s personal tax situation.
Americans relocating abroad (U.S. Expatriates) and foreign national
expatriates moving into the U.S. are both subject to extremely complex special tax
rules that should only be addressed by a trained and experienced tax
professional who is knowledgeable with these issues.
Since
1965, Powers & Company has been easing the stress of complex tax situations
for thousands of clients living around the world by providing quality tax
solutions at reasonable rates. Many years of specialized training and experience
enable our staff to quickly assess the situation and address such complex issues
as:
-
What state tax returns must be filed for which portion of the year?
-
Is the client a resident, non-resident or part-year resident?
-
What income and expenses get reported on which return?
-
Do the client and spouse share the same filing status?
-
What moving expenses are deductible and on which return?
-
Does the client qualify to deduct temporary living expenses?
-
If the client relocated to a foreign country, will the client qualify to exclude from U.S. taxation foreign source earned income? If so under which section of the tax code (i.e. §911(a) physical presence, or §911(b) bonafide residence)? When does the qualifying period begin and when is the test satisfied? How much income can be excluded? What expenses can be deducted if income is excluded? When should the tax return be filed? Can the return be amended?
-
If the client is a foreign national living and working in the U.S., is the taxpayer a full year U.S. resident or non-resident, or a part year resident? What income of the client is taxable in the U.S.? What expenses are deductible and on which return?
-
If taxes were paid to a foreign country can a credit be taken against U.S. taxes? If so, how much? How is the credit claimed? Are there different tax credits allowed for different types of income?
An entire web site could be filled with
such issues, so should you take a chance having your tax matters handled by
someone without the experience and training? You want a professional who can
ensure that your return will be correctly prepared and that you will pay the
lowest possible tax allowed by law!
With
Powers & Company you
feel safe knowing you have experienced specialized service, and because we make
every effort to control unnecessary overhead our fees are highly competitive.