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Tax LawTop Reasons Expatriates Must Hire International Tax Law Specialists

Top Reasons Expatriates Must Hire International Tax Law Specialists

One cannot afford to be overwhelmed by taxes; but for an expatriate, tax-related matters could be a really overwhelming and complicated. In such a case, the services of an international tax law specialist will be a blessing.

If you are an American expatriate, you have to file your taxes on the income that you have earned in other parts of the world. Hiring the services of an international tax law specialist is the best option for you. He or she can file your tax returns for you and, at the same time, ensure that you will receive all the tax deductions that you are entitled to. You can be sure that all this will be done within the limits of American tax law although you live abroad.

Expatriates are entitled to certain tax exemptions. An international tax law specialist will help you understand these exemptions. For instance, if you reside abroad most of the days of the year, that is, around 330 days, you are exempt from paying taxes on $80,000 of the income you have earned abroad, a law that is now in effect from 2003.

If you are filing your tax returns jointly as a married couple, you are exempt from paying taxes on $80,000 of your spouse’s income too. However, you are not exempt from the income you obtain from rental properties, interest, and dividends; just the income you obtain from your job abroad. In order to benefit from these tax deductions, you need to file tax returns every year.

Besides, an international tax law specialist can assist you in understanding certain other exemptions you may be entitled to only because you are an expatriate. In certain cases, claiming exemptions from US taxes for any taxes you might have paid abroad is permissible. In certain cases, you cannot make such a claim. An international tax law specialist will be able to help you here.

American has signed tax treaties with sixty countries with regard to filing tax returns in one country when you are living in another. A knowledge of these tax treaties will be of great help to expatriates. However, they are too complex for common understanding. Once again, your international tax law specialist can come to your rescue because he or she knows these treaties very well and has the sufficient training to assist you in getting all the tax deductions that are due to you.

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