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                         Relocation Tax Services

Whether for personal reasons or for business, whether domestic or international, relocation is a stressful life change that complicates one’s personal tax situation.

Americans relocating abroad (U.S. Expatriates) and foreign national expatriates moving into the U.S. are both subject to extremely complex special tax rules that should only be addressed by a trained and experienced tax professional who is knowledgeable with these issues.

Since 1965, Powers & Company has been easing the stress of complex tax situations for thousands of clients living around the world by providing quality tax solutions at reasonable rates. Many years of specialized training and experience enable our staff to quickly assess the situation and address such complex issues as:

  • What state tax returns must be filed for which portion of the year?

  • Is the client a resident, non-resident or part-year resident?

  • What income and expenses get reported on which return?

  • Do the client and spouse share the same filing status?

  • What moving expenses are deductible and on which return?

  • Does the client qualify to deduct temporary living expenses?

  • If the client relocated to a foreign country, will the client qualify to exclude from U.S. taxation foreign source earned income?  If so under which section of the tax code (i.e. §911(a) physical presence, or §911(b) bonafide residence)? When does the qualifying period begin and when is the test satisfied? How much income can be excluded? What expenses can be deducted if income is excluded? When should the tax return be filed? Can the return be amended?

  • If the client is a foreign national living and working in the U.S., is the taxpayer a full year U.S. resident or non-resident, or a part year resident? What income of the client is taxable in the U.S.? What expenses are deductible and on which return?

  • If taxes were paid to a foreign country can a credit be taken against U.S. taxes? If so, how much? How is the credit claimed? Are there different tax credits allowed for different types of income?

An entire web site could be filled with such issues, so should you take a chance having your tax matters handled by someone without the experience and training? You want a professional who can ensure that your return will be correctly prepared and that you will pay the lowest possible tax allowed by law!

With Powers & Company you feel safe knowing you have experienced specialized service, and because we make every effort to control unnecessary overhead our fees are highly competitive.

 

Copyright © 1999-2013 IRS CIRCULAR 230 NOTICE:  To ensure compliance with recently enacted U.S. Treasury Department regulations, we hereby advise you that any and all tax information contained in this website should not be considered as tax advice nor intended for the use of any taxpayer for the purpose of evading or avoiding tax penalties that may be imposed pursuant to U.S. law. Furthermore, the use of any tax information contained in this communication has neither been written nor intended for the purpose of promoting, marketing, or recommending a partnership or other entity, investment plan or arrangement to any taxpayer, and such taxpayer should seek advice on the taxpayer’s particular circumstances from an independent tax advisor. The information contained throughout this web site is provided without charge, and although all efforts have been made to ensure the reliability of the information contained in this internet web site, the information contained herein should be used for general understanding only and should not be relied upon exclusively as the basis of any tax or financial decisions or for any positions taken on any tax return. Advice should only be obtained directly through the retention of a competent tax advisor. Tax Power is an established trademark of Powers & Company, Inc. and Powers Tax Services since 1999. Unauthorized use of the phrase Tax Power without expressed permission of Powers & Company, Inc. will be prosecuted to the fullest extent of the law. Last modified: January 10, 2014 The articles, guides and published information contained in this website is protected by U.S. copyright laws and cannot be reproduced in any form without the expressed permission.

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