Whitfield Adams offers a range of services to our individual clients. We strive to offer personalized quality service. Below we have listed a brief description of some of the areas of practice. As the list below is by no means all-inclusive, feel free to inquire about a service if you do not see it listed. Provision of services is subject to our general terms and conditions of which a copy is available upon request.
(Click here for our general terms and conditions)
International Tax Returns
We prepare US federal and state income tax returns for Americans abroad. We also can prepare US nonresident income tax returns. . . for example to claim refunds of US tax withheld.
Many American citizens and green card holders are unaware they are required by law to file annual US income tax returns and, separately, foreign bank and financial account reports known as FBAR's. In addition there are further disclosure requirements for non-US transactions when a person lives outside the US. It is possible to get back in to US filing compliance after an inadvertant hiatus using the IRS' streamlined filing compliance procedures. The best approach to take depends upon one's situation.
For Dutch or other national income tax returns we prefer that you have your own trusted preparer/advisor and provide us with the tax return from them. We will be happy to work with them and assist with points they take into consideration regarding a US person residing overseas. This can lead on the one hand to tax savings and on the other to the avoidance of certain "pitfalls."
Should you wish a referral please see our links page. We also have local contacts in addition to these.
International Tax Planning
It is our goal to minimize the tax burden and maximize the benefits of Foreign Tax Credits and the Foreign Earned Income Exclusion.
When US citizens or residents including green card holders invest in non-US registered mutual funds (or any non-US company which, because of its income or assets, is considered under the US laws to be a foreign investment company) it can result in very detrimental US tax treatment under provisions in the Tax Code pertaining to what US lawmakers call "passive foreign investment companies" or PFIC's for short. Please consult with us before making investments to understand how US tax consequences affect your investment.