Services
Foreign income and U.S. tax returns
For clients who live in the U.S. but have income in another country: work, business, rental income, interest, or other payments.
Who this service is for
For U.S. taxpayers who had income from another country during the year, including wages, self-employment, rent, interest, dividends, or other payments. Foreign income should be reviewed together with the overall U.S. return rather than treated as a separate filing issue.
Common situations
- Employment with a foreign employer or income earned before a move to the U.S.
- Rental income from property outside the United States.
- Interest, dividends, or other investment income from another country.
- Self-employment or business income connected with another country.
What to prepare
- Records showing the source and amount of the foreign income.
- Information about foreign taxes paid or withheld, if any.
- Dates and amounts when they are needed to convert foreign-currency figures consistently.
- Information about foreign financial accounts if those accounts were connected with receiving or holding the funds.
What we review
We determine how the foreign amounts fit into the U.S. return and what additional information or forms may be needed for the specific facts. We also review whether foreign financial accounts create a separate FBAR or other reporting question.
Helpful resources
What to prepare
A list of documents and supporting records for credits, dependents, mileage, expenses, and foreign items.
How it works
Four steps from initial contact to filing: we first understand the situation, then identify the documents, receive them securely, and review the result with you.
Documents are transmitted only through a secure method after the initial contact.
Common questions
What if I have foreign income?
These situations must be reviewed based on the facts: country, type of income, foreign taxes already paid, and supporting documents.
What if I recently arrived in the U.S. or changed status?
We need to review entry dates, immigration status, tax residency, foreign income, and possible reporting requirements.
Can we work together if I am outside the U.S.?
Yes. We work with clients in the U.S. and abroad when the client still has an obligation to file a U.S. individual tax return. In these situations, we separately review tax status, income sources, documents from another country, and possible reporting for foreign accounts or income.
What affects the price?
Forms, states, income sources, Schedule C activity, foreign income, foreign accounts, and any additional explanations required.
Contact
Describe what you have: W-2, 1099, Schedule C, income outside the U.S., foreign accounts, an IRS letter, or another question. We will then suggest the next step.