yarswollef
11/9/2016 21:06 EST
How much trouble is it to find someone with knowledge and know how to prepare a US tax return.
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bang4dabuck
11/11/2016 09:39 EST
I use TURBO TAX but have been for years. My friend uses a guy in Cebu but also does work in the US. Cheap by US standards. Turbo is pretty good and you might not need to even do state taxes depending.
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freetheirminds2
11/11/2016 14:38 EST
Turbo Tax: Does it online. TT submits electronically for a fee. You can mail it in though. But that involves going to post office which is not too time-consuming but it is an extra step. I've used TT for 9 years or so. Also they are your filing cabinet--thet store all you filings so if you need one or three you just print them. Their fee varies --I think I paid about $70.00 last April.
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bang4dabuck
11/11/2016 17:01 EST
I thought FEDERAL might be FREE and you just paid for the state. So if you derived all your income while you were cohabitating outside the US any year, you should not have to file a state return. Maybe I oversimplified or did not consider all different scenarios but generally speaking I am confident.
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bang4dabuck
11/11/2016 17:03 EST
They have an online version you download. Even then I would try to be connected online every time use it in case there are updates.
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CAspacecowboy
11/11/2016 19:17 EST
Used Tax Cut (H&R) for many years and then switched to TT. Depends on your income, and other details on if fully on-line and fully free is what you get. For us we are in NV, so no state tax and fed is free. We file on-line, but have to do the long forms. Works good. Intuit (TT) tried to jack up the price last year and got hammered. They finally changed the pricing. Let's see what they have this year. I pick it up here in the states at Costco or Sam's Club, usually for around $US60.
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pete98203
11/11/2016 20:27 EST
TAX ACT ONLINE WORKS FOR ME GOING ON TEN YEARS OR SO. NO FEE FOR MY SIMPLE RETURN AND REFUND IS DIRECT DEPOSITED TO MY CREDIT UNION ACCOUNT.
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eppnrpi
11/11/2016 20:57 EST
I've used TurboTax since they started electronic filing. Depending upon your income it is probably free. I have all my 1099's emailed, you just have to enter the amounts from them, the IRS will cross-reference w/ their files.
If you are like most expats you will be able to file free. Just visit their site.... they have a quick tool that will be able to tell you!
If you're married to a Filipina your wife will need a social security number or an Individual Taxpayer Identification Number (ITIN). You will need that number if you file "married filing jointly" or "married filing separately".
Married Filing Jointly means you will have to claim and report her income and the Philippine taxes she paid as well as your income, but, you will be able to claim the "Married Standard Deduction".
Married Filing Separately means you will simply file as though you were single, though you will only be able to claim your own "Standard Deduction". This is how we file, she reports and pays hers to the Philippines and I report mine to the States.
Remember that if you have over $10,000.00 total in any "foreign" bank you must report it!
Also, if you have a business of any kind those proceeds must be reported and are subject to tax! But, if you are just retired and enjoying life with your wife it's the easy and painless way to file!
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bang4dabuck
11/12/2016 15:21 EST
If you live outside the US, use that address and you won't have to file a state return. Now that if all your taxable income was derived while you were outside. I even avoided the ACA penalty by claiming permanent residence here. For Federal taxes on earned income, I believe up to $95k is non taxable if again while outside the US. Dividends, interests, capital gains and any other investment/ business income is taxable at the regular rates. Retirement income unless Roth IRA taxable too.
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eppnrpi
11/12/2016 19:43 EST
Bang:
I'm not sure what the ceiling is for earned income, but I know that all income must be reported.
You are right that proceeds from your ROTH 401k are tax-exempt as well as proceeds from some Municipal bonds, but that income is already reported annually on a 1099misc/int by the Custodian of Record of the institution that holds the investment. TurboTax will ask for all your 1099 forms (if I remember correctly those are required to be transmitted to you by the end of January).
Any way that it goes there are no freebies anymore, our dear IRS knows all! Unless you're doing all cash.... and if you are, be careful and watch your back, they look for that too! Worst case scenario... there's no extradition treaties in force between our two countries..... but then, they do have your Social Security! Just gotta love the 'ol US!
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pete98203
11/13/2016 00:47 EST
WHAT ABOUT FILING AS HEAD OF HOUSEHOLD? WILL MY WIFE(FILIPINO CITIZEN) STILL BE REQUIRED TO HAVE AN ITN OR SSN?
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EuroBob
11/14/2016 04:28 EST
I have lived outside of the U.S. since 1998 and work for a non-U.S. company.
I file as "Head of Household" and when I once sent in my tax return without listing an ITIN for my Filipina wife, my tax return was returned with a request for her ITIN. So I guess it is required.
On the IRS website it says the following...
Who needs an ITIN?
IRS issues ITINs to foreign nationals and others who have federal tax reporting or filing requirements and do not qualify for SSNs. A non-resident alien individual not eligible for a SSN who is required to file a U.S. tax return only to claim a refund of tax under the provisions of a U.S. tax treaty needs an ITIN.
Other examples of individuals who need ITINs include:
• A nonresident alien required to file a U.S. tax return
• A U.S. resident alien (based on days present in the United States) filing a U.S. tax return
• A dependent or spouse of a U.S. citizen/resident alien
• A dependent or spouse of a nonresident alien visa holder
https://www.irs.gov/individuals/general-itin-information?_ga=1.14389111.1309509068.1479115181
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bang4dabuck
11/14/2016 10:38 EST
Just use TURBO, it will lead you by the hand. You should declare everything anyways and TURBO will weed it out. TURBO asks all the relevant questions you just need to have all the answers. I believe it is every Americans duty to be honest and pay what is due. We got soldiers doing their duty this is yours. TURBO also has free tax help if you get in a gray area so get your MAGICJACK app downloaded if you haven't already. Remember most people's tax year is a calendar year so that's usually a starting point of determining many things. I first moved to Phils at the end of January 2014 and I also had investment income in that time so I paid my Maryand Tax on just that income with a proration on any exemptions and deductions factored in. Had I moved in beginning of January and came back visit the US for a
month, the income for that month would not be taxable because I had already established my residence in the Phils.
One thing great about TURBO, especially if financial institutions are issuing you a 1099, you just put in the issuers info and some ID numbers off the 1099 and TURBO downloads it off the issuers system or something like that.
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gelynch52ph
11/20/2016 05:50 EST
Good lord, if you needed an atty in USA, you need a US atty to file from here. If you have only SSA or retirement income you simply use any of the online services including the IRS website and do it yourself. If you could do your own taxes in USA you can do them yourself from here with no assistance.
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gelynch52ph
11/20/2016 05:55 EST
The law is if you have a combined $50,000 in all foreign banks on any single day, you must file the appropriate forms. That would mean if you have money in Korea, Philippines, Germany and Italy and on any single day your aggregate total is $50,000 you are subject to FACTA. There is no such $10,000 figure for US tax purposes.
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MCYRCPA
1/28/2017 12:09 EST
As long as you are a US citizen you are required to file a US tax return based on your worldwide income. You are never exempt from having to file. If you have $10,000 or more anytime in a foreign bank you must also file a return reporting the amount in the bank. If you do not you may pay hefty penalties. If you one $50,000 in a foreign corp this must be reported on yet another form.
Michael Wayne Cyr, CPA, EA, CGMA
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MCYRCPA
1/28/2017 12:12 EST
I am a US CPA and EA who will be retiring in the Philippines, Negros/Mindanao. US CPAs are prohibited from practicing in the Philippines but EAs aka Enrolled Agents are allowed to offer US tax preparation services. I would be pleased to help you now or later with your tax filing requirememts.
mcyrcpa@hotmail.com
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gelynch52ph
1/28/2017 22:19 EST
This is not entirely accurate. A person, such as myself, who lives entirely on SSA and has no outside income or investments does not need to file a US tax return.
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charkee
1/29/2017 02:05 EST
I'm not on SSA and earn less than $5000 a year from my US investments.
In the Philippines I do business in my wife's name and bank in her name.
My Paypal is a Philippine account in my wife's name.
I haven't filed for taxes in years as I believe I don't have to file.
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MCYRCPA
3/27/2017 19:40 EST
I am a CPA, EA. I can help you.
Michael Wayne Cyr, CPA, EA, CGMA
mcyrcpa@hotmail.com
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rcampsr
3/28/2017 07:34 EST
I have run into several problems with filing your taxes with Turbo Tax. If you live in a foreign country and file USA taxes, and you are married to a foreign spouse that does not have a TIN with the IRS, then you may have problems. There were only two valid IRS tax preparers in the Philippines a few years ago when I looked for one.
I would go to the IRS website and download and read 2016 Publication 54 US Citizens Living in Foreign Country. If this does not help you out, then there are several other publications that may help.
Hope this helps, RAC
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MCYRCPA
3/28/2017 12:21 EST
Enrolled Agents are permitted to represent and advise US tax payers in the Philippines. There are some in Manila both US and Foreign EA's. Do a web search for Enrolled Agents and you should find several.
The gross income filing threshold is the sum of your exemption and your standard deduction. $10,350 single, $20,700 married filing joint in 2016
You are also required to report any bank account you have signature authority over of $10,000 or more.
You may have reporting requirements if you have investments of $50,000 or more in a foreign corporation or financial entity. Individually owned land is not included but land in a corporation is included.
If your wife is a US Citizen, or dual citizen she is required to file a US tax return on her global income if she meets the gross income filing threshold. There are credits and exclusions available to mitigate the effect of double taxation.
Michael Wayne Cyr, CPA, EA, CGMA
Fitzpatrick & McKenzie PC
McMinnville, OR 97128
503 472-0576
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