International Tax

International and expatriate tax specialists

Minimizing your tax burden

At home or abroad
– we’re here to help.

If you’re a US citizen living or working overseas or a foreign company setting up operations in the US, you can rely on Boyum Barenscheer’s international tax specialists to help minimize your tax burden while managing tax planning and compliance.

We provide international tax services for

  • Expatriates
  • Non-resident aliens with US sourced income
  • Businesses with US operations
  • US citizens with foreign bank accounts

Our international tax services

Other services used by our international tax clients

FAQs

 
Do I need to report all of my worldwide income?

Yes, as a US citizen or resident alien you need to report your worldwide income each year on your income tax return. There are a number of ways to reduce your US tax on the worldwide income like the foreign earned income exclusion and the foreign tax credit.

 
What do I need to disclose about my foreign transactions or my foreign bank accounts?

Disclosing foreign bank accounts and transactions is very important when filing your tax return. Special disclosures are needed when you have transactions with foreign trusts, or have a foreign bank account, or generate foreign income from a foreign investment.

 
Do I pay taxes in both countries?

Yes you might pay tax in both the US and your resident country. The foreign earned income exclusion, the foreign tax credit, and tax treaties can be used to reduce or even eliminate entirely the double taxation. Determining the best way to reduce your US tax is what we specialize in.

 
How do I set up my company so I pay the least amount of tax worldwide?

When setting up companies when doing business internationally it is critical to involve a professional from each country to find the best situation. The US tax rules are complex and some of our LLC rules and regulations don’t translate well in foreign countries, so it changes the equation when looking at what type of legal and tax entity to set up.

 
When is the FBAR due?

The FBAR is filed separately from your income tax return, but it is due at the same time each year as your Form 1040. If you reside in the US that’s April 15th, if you reside outside of the US that original due date is June 15th. In either case an extension for your personal return is also counted as an extension for your FBAR, which makes the new deadline October 15th.

 
What is FATCA?

FATCA is a bill that the government passed which creates additional layers of compliance challenges. FATCA includes a new Form 8938 filing with your personal tax return. The FATCA rules also imposes various withholding and disclosure requirements for financial institutions that have US Citizens as clients.

Contact Chris for more info

Chris Wittich, CPA

Chris Wittich came to Boyum Barenscheer in 2007 to begin his CPA career and quickly made his mark in the firm’s tax department. He works with individuals, businesses, trusts and estates, and expats providing tax planning and tax compliance services. Chris enjoys challenging research projects as well as training others in ‘all things tax’…