Financial and Tax Planning

Multi State- Planning
Foreign Tax Credit
Social Security Planning
Assignment Management
Expatriate Planning

Most of us who live outside of the United States have to pay tax in the country in which we live. US citizens or green card holders have the same income subjected to US tax. In plain words, there is double tax. To prevent this happening, the US has double tax treaties with many countries and very often it is possible to claim a credit for the foreign tax paid (or accrued) on income to avoid double taxation.

However, it is vital to structure the timing and payment of foreign taxes in order to obtain the maximum benefit from foreign tax credits. US Tax & Financial Services has years of knowledge and expertise in this area and provides proactive planning advice to ensure any excess foreign tax credits may be used effectively and efficiently.

Social security can be an important issue in the overall cost of an assignment. It is possible to establish continuing coverage under the "home scheme" if certain requirements and obligations are met by the employer and individual concerned. This could drastically reduce the cost of an assignment, while preserving a certain level of security for the assignee.

Compensation issues and ongoing tax compliance are not the only concerns when relocating to a foreign country

Questions include the following:

Who will be the employer?
When is the best time to relocate?
Is there an ideal length of assignment?
What will be the overall tax and social security cost of the assignment?
What are the additional reporting requirements and payments required of the company and the employee in the assignment country?
Should the assignee remain on the US payroll?
When is it best to make certain payments of income - pre move or post move?
Should income be paid in the United States or the assignment country?