About the Business
Foreign expatriates, US citizens and Green Card holders are obliged to report all global income to the IRS. There are specific tax benefits available to these expats, which include but are not limited to:
- The foreign income exclusion (IRS Form 2555)
- A housing allowance (Form 2555)
- Tax treaty exemptions and exclusions (eg. 1040NR for F-1 and J-1 visas)
- Foreign tax credits and other offsets (Form 1116)
Additionally, federal regulations require that US nationals and Green Card holders submit a Report of Bank and Financial Accounts (FBAR) if they possess any financial assets outside of the US. These can range from overseas bank accounts, stocks, bonds and mutual funds, to interests in foreign private companies and partnerships. Non-compliance with this reporting will be penalized heavily. Dual filing is also required, on IRS Form 8938 and separately to the US Treasury Department.
At Bowery Expatriate Tax Group, we provide questionnaires to our expat clients on request or on our website. In many cases, our services can be provided remotely. We offer a wide range of services, such as cloud based bookkeeping and payroll, leveraging foreign tax credits for corporations and international assignees, applying income tax treaties and ensuring they are claimed correctly, refunding withholding payments and social security taxes to qualified expats, tax extensions and projections, and incorporation.
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- Bowery Expatriate Tax Group offers a wide range of professional tax and business services. Our office in Manhattan provides cloud based bookkeeping, tax and business services to international business owners and investors, high net worth individuals and other professionals. Our specialty is tax service to expatriates living/working in the United States. Also services offered to U.S. expatriates living abroad can be performed remotely. We have two licensed CPA dedicated to serve international business and expatriate tax clients. Our firm also aims to protect the environment by operating under a paperless environment.
- (212) 966-3772
- 70 Bowery St Ste 504, New York, NY 10013
- Visit Website
Opening Time
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Mon
10:00 AM - 6:30 PM
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Tue
10:00 AM - 6:30 PM
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Wed
10:00 AM - 6:30 PM
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Thu
10:00 AM - 6:30 PM
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Fri
10:00 AM - 6:30 PM
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Sat
11:00 AM - 6:30 PM
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Sun
Closed