Professional Tax Services

US citizens living abroad and Green Card holders are required to report their worldwide income on the United States Federal Individual Income Tax Return whether they live in the Unites States or abroad.  People who live and work outside the United States may be able to exclude all or part of their foreign-source wages and self-employment income from the federal income tax through a provision called the foreign earned income exclusion. To qualify for the foreign earned income exclusion, a person needs to:

·         Work and reside outside the United States, and

·         Meet either the Bona Fide Resident or Physical Presence tests.

Please remember that it is an obligation to file your U.S Individual Income Tax Return while you are working outside the USA.

Besides your responsibility to report your income that some or all of might be excluded you have to be aware of the following disclosures:

-          FBAR (Foreign Bank) disclosure (FinCEN Report 114)

-          FC (Foreign Corporations) disclosure (Form 5471)

-          FA (Foreign Assets) disclosure (Form 8938)

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