How To Get Expert Tax Advice If You’re An Ex-Pat


Death and taxes, so the saying goes, are the two things that no one can avoid. When you are a US citizen living abroad, you need to continue to file your tax returns in line with the requirements of the IRS. US taxation systems are not easy and there are many complex issues that need to be taken into consideration or have resolved. Should you make a mistake, even as an absolute oversight, you will not usually find a sympathetic ear, as providing the correct information to the taxman is part of your fiscal responsibility. When you’re not living in the country it’s more difficult to find the taxation expertise that you need, as not every firm is an expert in IRS requirements. However, help can be found if you look, and there are definitely companies that specialize in US tax preparation based in Toronto, Ontario.

What needs to be considered when filing a tax return

If you are non-resident, but own property in Canada, you will be required to pay capital gains tax, and there are many other issues that you need to consider, such as withholding tax and section 216 non-resident tax returns. You will also need to have a non-resident certificate of compliance, which is also known as a tax clearance certificate.  All of these requirements can be complicated and have strict deadlines that can incur fines if they’re not adhered to. This truly is when you’ll need an expert to advise you and to help you remain legal by filing accurate returns. It will be of great benefit if you can deal with an advisor that has a US CPA qualification.

The process that you should follow

For some businesses, you simply need to register on-line and provide your tax information. From here, a tax expert will discuss your particular situation with you, before preparing your return. You will then be given an opportunity to review your return, before paying for the service. It’s important to ensure that the business files the return with the IRS themselves, as they will then receive any associated correspondence, and will handle this on your behalf. Particularly if an audit is required, your tax advisor can handle this on your behalf. A business such as The Taxperts Group is highly skilled in this regard, and offers a comprehensive service for both personal and corporate tax for ex-pats. Like them on Google +

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