Terms & Conditions Acceptable Use Policy Take Down Policy Privacy Policy Contact Us
Go Back   Expat Forum For Expats, For Moving Overseas And For Jobs Abroad > Expat Forums by Country > Britain Expat Forum for Expats Living in the UK

Britain Expat Forum for Expats Living in the UK Living in Britain ForumThe Britain Expats forum is a community of people that have moved to the UK from overseas. This is the place for Expats to meet and discuss anything about the British way of life. You will find this forum a welcoming place to discuss the Great attributes of your new home. Discuss anything from jobs, property, culture, food, history and more.

Advice for US Tax Liab

Reply
 
Thread Tools
  #1 (permalink)  
Old 11th June 2008, 09:22 PM
Expat Newbie
 
Join Date: Jun 2008
Posts: 1
Rep Power: 0
htwelei is on a distinguished road
Default Advice for US Tax Liab

we just extended the US tax return. started doing the return using turbo tax, but found it so complicated. this is our first year in the UK. Any recommendation on a good US tax specialyst in Kent, or any advice at all would be a great help?
Thanks in advance.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Sponsored Links
  #2 (permalink)  
Old 12th June 2008, 06:02 AM
Moderator
 
Join Date: Nov 2007
Location: deepest, darkest Essonne
Posts: 1,528
Rep Power: 162
Bevdeforges will become famous soon enough
Default

If this is your first year overseas, Turbo Tax (or any of the commercial software packages for home use) may not be the way to go. Traditionally they aren't really set up to handle overseas returns, especially in the first year (where you have a split situation - part year as a US resident, and part-year overseas).

Normally, what I do is to deal first with form 2555 (the overseas earned income exclusion) for earned income. (Even better if you can use that 2555-EZ form.) That gives you how to report your salary income and has the instructions for partitioning it between your US residency and your foreign residency. Most other types of income you may have then go on to the return pretty much like they always did.

The tough part comes if you claim the foreign income tax credit because that will almost automatically subject you to the AMT calculation, which does get tricky for a split year.
Cheers,
Bev
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Sponsored Links

Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
UK tax liab for income earned whilst in USA adamjtucker America Expat Forum for Expats Living in America 6 11th June 2008 07:07 PM

LEGAL NOTICE
By using this Website, you agree to abide by our Terms and Conditions (the "Terms"). This notice does not replace our Terms, which you must read in full as they contain important information. You must not post any defamatory, unlawful or undesirable content, or any content copied from a third party, on the Website. You must not copy material from the Website except in accordance with the Terms. This Website gives users an opportunity to share information only and is not intended to contain any advice which you should rely upon. It does not replace the need to take professional or other advice. We have no liability to you or any other person in respect of any content on this Website.
FORUM PARTNERS

ExpatForum.com is owned and operated by the MoveForward.com Limited group. You can find out more about us here. Keep a look out for some up coming ventures like: The Dubai Forum for everything about Dubai. The Income Forum for everything financial.

Expats Guide to Moving Overseas | Expats Guide to Buying Property Abroard | Guides to Working Abroad | Retiring Overseas Guides | Moving Overseas Guides | Expat Country Guides | Expat Property Guides | Cost of Living | Health Care Guides | New York Forum


Latest Active Threads

All times are GMT. The time now is 06:46 PM.

Register With Expat Forum

Living in America Forum America Forum
Living in Australia Forum Australia Forum
Living in Britain Forum Britain Forum
Living in Canada Forum Canada Forum
Living in Cyprus Forum Cyprus Forum
Living in Dubai Forum Dubai Forum
Living in Egypt Forum Egypt Forum
Living in France Forum France Forum
Living in Greece Forum Greece Forum
Living in Hong Kong Forum Hong Kong Forum
Living in Italy Forum Italy Forum
Living in Japan Forum Japan Forum
Living in Mexico Forum Mexico Forum
Living in New Zealand Forum New Zealand Forum
Living in Portugal Forum Portugal Forum
Living in Singapore Forum Singapore Forum
Living in Spain Forum Spain Forum
Living in South Africa Forum South Africa Forum
Living in Thailand Forum Thailand Forum




Powered by vBulletin® Version 3.7.3
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.2.0