Welcome to TaxesForExpatsHQ.com! – Tax Resource for US Citizens Living Abroad

By: Pete
Date posted: 10.06.2011 (11:52 pm) | Write a Comment  (0 Comments)

      Post a Comment

I would imagine that many of you are in the same situation as I am. I was born in the United States a few years ago but have been living in Canada ever since growing up. By birth, I am a US citizen which is terrific in all ways except one. As an American, no matter where I live and work, I am in the obligation of reporting my revenues and assets and pay taxes for US citizens living abroad if applicable. That had been very loosely enforced up until a few years ago and the IRS has been very clear that US citizens living abroad need to get in line to avoid important penalties.

As is the case for thousands of Americans living abroad, I am now in a situation where I need to get my things up to date in order to become compliant with US laws. An option that some consider is to drop their US citizenship. I am honestly not even considering such a possibility but I was told that it was also a complex process.

I am no accountant and certainly no tax expert, especially for a situation that while it is shared by thousands of people around the world, is still considered unique by most accountants. I did ask around tax professionals and was told that the cost for someone to get my files up to date would be in the $XX,XXX.. And apparently not in the low part of that range. Needless to say that it is well beyond my budget.

What Are My Options?

At this point, my only real option is to get information and be able to file my expat taxes myself. It will probably a fairly long process but I’m confident that once I do understand the process, I should be able to stay up-to-date “fairly” easily. That remains to be seen of course.

Why Build TaxesForExpatsHQ?

I have no doubt that the process will sometimes turn out be quite complex and perhaps even frustrating but I am determined to get something out of this. I thought that one way to make the process easier would be to create a blog where I could both offer my experience and perhaps help others in the process. Also, I think chances are good that some of you who visit this blog will be able to assist me but also others in this process.

What Will Taxes For Expats Be About?

This website will be a blog but will also contain other information, resources and hopefully can grow into a community for all of us that are US citizens living abroad that must file taxes in order to be compliant with IRS rules.


No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL


Leave a comment