An experienced Los Angeles tax attorney can help you with a variety of different tax issues. For example, they know what you need to pay when you have a business and if you can deduct charitable donations as an individual. These are important people for you to keep in touch with.
In fact, they even have the answers for people who are looking to live in another country but want make sure their taxes are paid up. Here are just a few of the answers that we’ve come across for Americans who live abroad.
Generally, there is no law to stop you from living in another country. However, if you’re an American citizen you still have several different obligations to the IRS. For example:
- You still have an obligation to pay taxes to your country no matter where you live. It’s a surprising fact and an interesting topic for experienced Los Angeles tax attorney firms. Still, facts are facts and you’ll need to pay Uncle Sam a portion of your worldwide income no matter where you live.
- However, you might be able to catch a break — here’s how. If the country that you moved to charges you taxes, the IRS might give you a break on what you owe back home. Of course, this is another big reason why you need to have a professional accountant and tax attorney looking at your books. You may be in for a break but you certainly don’t want to take matters in your own hands and wind up owing back taxes.
- Here’s another interesting fact about living in another country but paying taxes to the USA. Even if you live in a foreign country, you’ll need to pay your taxes in good old fashion American greenbacks. No matter where you are in the world, the IRS expects you to file your paperwork and pay your taxes in American dollars.
- It’s not all doom and gloom when it comes to living in another place and paying American taxes either. For the most part, you’ll be able to file online so the whole process is a little easier. The IRS has a system that you can use if you make under a certain amount of money.
It’s important to remember that paying taxes to America is about living up to your obligations no matter where you are in the world. An experienced Los Angeles tax attorney can help.