The US requires all American citizens to file US taxes if their global income exceeds IRS minimum thresholds – including Americans living abroad.
IRS thresholds start at just $5 for Americans who file separately to a foreign spouse, or just $400 of self-employment income. For all other Americans, the minimum income to trigger US filing is $12,500 of any income worldwide, for the 2021 tax year.
Filing from abroad is more complicated than filing in the States though, as Americans filing overseas often have to convert their foreign sourced income into US dollars, and file additional forms to avoid double taxation and to report any foreign financial accounts, investments, and business interests that they may have.
There are often different filing strategies available for Americans filing from abroad too, depending on which exclusions or credits it would be most beneficial for them to claim for example, besides ensuring that all reporting requirements are met.
This is why seeking advice from a US expat tax specialist is especially important for Americans living abroad, to ensure they are fully compliant and that they achieve their optimum tax outcome.
Why Bright!Tax is better
There are numerous firms and accountants specializing in US tax prep for expats, however Bright!Tax is the best for several important reasons:
– Direct access to world class expertise
When you work with Bright!Tax, you are supported by a single expat-expert American CPA, who oversees your tax filing process from start to finish to ensure that you achieve your optimum outcome. You have direct access to your Bright!Tax CPA at all times , should you have a question. Furthermore, as our accountants work in teams, when you work with Bright!Tax your US tax return is double checked for accuracy, and your accountant has support to prevent them become overburdened and so unresponsive in peak times.
“Our focus has always been on providing personalized, expert support to each and every one of our expat clients” – Greg Dewald, BrightTax Founder
At Bright!Tax, our online platforms use online banking-level encryption to ensure your personal data is safe. Rather than store your details ourselves meanwhile, we use world-class, name-brand providers to encrypt and store the information you provide.
Our tax filing process is designed to make your life easy by combining expert, personalized advice with an intuitive, online client organizer that allows you to provide your personal information and supporting documents to us securely and with the minimum of hassle.
– Flat fees
After an initial conversation with your Bright!Tax CPA to better understand your situation, we provide you with a flat fee assessment that is final and fixed. This is the total that you will end up paying – we never add any hidden extras after you decide to work with us.
– Above and beyond support
We understand that filing from abroad can raise many questions, and our entire team is standing by and enthusiastic to address any concerns you might have throughout the filing process.
How does it work
Start by filling out our 30 second registration form here. Our team then matches you with one of our world class, expat-specialist American CPAs.
Within a few hours, your CPA will email you to invite you to schedule a call at a time that is convenient for you. Following your call, you’ll provide us with your income details through our online client tax organizer. We’ll let you know what supporting documents we need for you to upload, and once you have provided them you just sit back while we prepare your return. You’ll check your return, we e-file it, and you’re done!
Single year, or need to catch up?
As well as preparing your current year US tax return, we are also experts at helping Americans abroad who are behind with their tax filing because they didn’t know they had to file from abroad to catch up. Thanks to the IRS Streamline Procedure amnesty program, for most people this process avoids back taxes and penalties.