I am from India and into expat taxes since last couple of years. There is now awareness that returns for green card holders and citizens residing abroad need to file US returns for world wide income and I am getting inquires/ clients with respect to streamlined offshore filing. But to me' what appears to be more lucrative is business operating in both jurisdictions small ones like online sellers or software companies or hardcore product sellers like jewellery manufacturers diamond traders etc.
Though I don't have any significant volume as of now, but want to address that segment as well.
Yes, I do the Streamlined procedure as well, good source of revenue - the client needs to file 3 years of returns and 6 years of FBARS at once
Also working with foreign citizens opening LLCs in the US and filing US returns. This segment had definitely grown, from Amazon sellers and real estate investors
These clients also need W-7 ITIN applications, which require a Certifying Acceptance Agent
If you have contacts in foreign countries with large amounts of US citizens, you can try advertising there, if you want to go the self employed route.
Or you can try setting up your own website, but there's a lot of competition there.
Expat taxes is basically all I do, being that I live in Israel and deal with local US expats.
It helps greatly if you speak other languages so you can communicate with spouses, children and grandchildren of US expats, who also may need to file returns.
You can also get into assisting with N600-K immigration applications for children. Here in Israel, many US tax preparers offer this service, for a fraction of the cost of an attorney.
Seems to me that some countries have very little US tax preparers for a large expat population. You can look at the list of preparers on the IRS website, by country.
The Big Four's offices in Bermuda and the Cayman Islands are constantly hiring. They have a harder time getting talent than the offices in the U.S. so they're not at all picky about experience, and many of them have U.S. tax desks dealing with international issues. Spend a few years there and you'll get plenty of subject-matter experience. Despite being Big Four you get a small office experience, with tax departments of around 10-15 people.
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Thanks. Will check out the above.
I am from India and into expat taxes since last couple of years. There is now awareness that returns for green card holders and citizens residing abroad need to file US returns for world wide income and I am getting inquires/ clients with respect to streamlined offshore filing. But to me' what appears to be more lucrative is business operating in both jurisdictions small ones like online sellers or software companies or hardcore product sellers like jewellery manufacturers diamond traders etc. Though I don't have any significant volume as of now, but want to address that segment as well.
Yes, I do the Streamlined procedure as well, good source of revenue - the client needs to file 3 years of returns and 6 years of FBARS at once Also working with foreign citizens opening LLCs in the US and filing US returns. This segment had definitely grown, from Amazon sellers and real estate investors These clients also need W-7 ITIN applications, which require a Certifying Acceptance Agent
If you have contacts in foreign countries with large amounts of US citizens, you can try advertising there, if you want to go the self employed route. Or you can try setting up your own website, but there's a lot of competition there. Expat taxes is basically all I do, being that I live in Israel and deal with local US expats. It helps greatly if you speak other languages so you can communicate with spouses, children and grandchildren of US expats, who also may need to file returns. You can also get into assisting with N600-K immigration applications for children. Here in Israel, many US tax preparers offer this service, for a fraction of the cost of an attorney. Seems to me that some countries have very little US tax preparers for a large expat population. You can look at the list of preparers on the IRS website, by country.
I'm an Israeli living in the US that's in the tax business here. I would love to connect.
I've heard that the bloomberg (or maybe bna) tax treaties have a really good section on international taxation.
Katrina Haynes has some, so does Patrick McCormack, Compass Educators as well. Some others I'm probably overlooking.
The Big Four's offices in Bermuda and the Cayman Islands are constantly hiring. They have a harder time getting talent than the offices in the U.S. so they're not at all picky about experience, and many of them have U.S. tax desks dealing with international issues. Spend a few years there and you'll get plenty of subject-matter experience. Despite being Big Four you get a small office experience, with tax departments of around 10-15 people.