With the current era where technology and inventions have made things easier for man, it is not strange to find people working and living outside their native countries. Millions of people today get to work, live and own business in whatever country they choose, depending on how suitable it is for them.
However, the question that lingers in most of these expats minds in how tax laws works for them now that they earn income in one country and still hold citizenship in another.
The US has especially been at the front in this topic since their introduction of the GILTI tax law that enables the government to get tax from their citizens who decided to build their lives overseas. Thanks to the GILTI tax law that took effect in 2018, US individuals with foreign assets now have to deal with the problem of being taxed twice. Many feel that this was a ploy to discourage people from taking their investments and ideas elsewhere.
So how then can one enjoy their peace of mind overseas without having to worry about the IRS knocking at their door?
Philip Stein and Associates
Taxation in the US is a big topic, and its recent changes shows how unpredictable its laws can be. Being found guilty of tax fraud by the US government is a serious crime, and the IRS normally doesn’t care whether or not one is aware of tax laws. Passport renewal will be the least of your worries as a foreign investor if the IRS comes for you.
With Philip Stein and Associates, your taxation worries can finally be put to rest, especially if you are a US citizen living and working in Israel or vice versa.
Why choose Philip Stein and Associates?
Having been established in 1979, Philip Stein and Associates has gained over 4 decades worth of experience dealing with tax returns affecting citizens in the US, Israel and other countries.
Philip Stein Accountants will ensure that as an international investor, all your tax returns are properly done and updated without you having to worry about the IRS giving you sleepless nights.
As the founder, Philip Stein believed in timeliness and thus ensured that each of their clients gets to have a personal associate keeping track of their tax returns and answering any questions that they may have. In addition to having a personal associate handling your filing, any returns done will still have to go through further reviews to avoid any possible error.
The firm also boasts of having connections to top financial advisors, lawyers and other specialists across the globe in case a client may be in need of something more specific.
Philip Stein and Associates always ensures that they stay updated with any tax changes and the client also has the option of taking part in designing their own tax return structure.