US Citizens with Foreign Income or Financial Assets
If you are a US citizen, the United States requires you to file a tax return every year on your worldwide income, no matter where you are a resident. This also applies if the income was earned outside of the US, and regardless in which currency the income was earned.
For US citizens there are strict rules regarding reporting of foreign assets such as bank accounts and other financial investments or ownership in a foreign businesses. We can help you comply with the Foreign Account Tax Compliance Act (FATCA) and Report of Foreign Bank and Financial Accounts (FBAR).
Resident Aliens and Foreign Residents
Of course US taxation and tax planning also plays an important role for international entrepreneurs and companies looking to invest or expand their business in the United States. If you are living in the US or are a US Greencard holder, you will need to file an annual tax return. For tax purposes, you will be treated similarly to a US citizen with many of the same deductions and credits.
If you are not a US citizen but have income or investments in the United States, you may face special tax needs. There are 30% withholding taxes for certain types of income such as interest, dividends or rental income from real estate. We can help you comply with US tax and accounting requirements and provide planning to help you reduce your tax and compliance burdens.
Tax and Legal Advice in Europe
Through our working partnership with the Frankfurt, Germany based law and accounting firm Winheller, we can help you manage your European tax and legal needs through attorneys and tax advisors based in Germany.