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Tax Specialist or Accountant Recommendation

Tax Specialist or Accountant Recommendation

Old Sep 11th 2014, 12:40 am
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Default Tax Specialist or Accountant Recommendation

Hello,

So I need to submit my first tax filing to the IRS before 15th October (I relocated from London to CA on an E2 Visa in August 2013). My affairs are not that complicated (I've property, savings and pensions in the UK) and nothing here. I've searched through the threads but the only recommendation I was able to find was for <<<snip>>> - I've left a couple of voice mails but not heard anything back from them. Naturally, I would like someone who is familiar with dealing with British expats tax filings.

Cheers

Last edited by Jerseygirl; Sep 11th 2014 at 1:00 am. Reason: Removed link
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Old Sep 11th 2014, 1:06 am
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Default Re: Tax Specialist or Accountant Recommendation

Pete Newton?

He gets recommended a lot, but there's a couple other recommendations in a few threads...search back till a bit before April for most tax threads.
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Old Sep 11th 2014, 1:42 am
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Default Re: Tax Specialist or Accountant Recommendation

Thanks Bob. I think it's him that I left the voicemails for. I'll run another search for around the April time frame.
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Old Sep 11th 2014, 3:04 am
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Default Re: Tax Specialist or Accountant Recommendation

You should be able to find an accountant in your local area, especially in one of the medium sized firms. You're not the first non-U.S. citizen to need tax assistance:
Choosing a Tax Accountant-USA : British Expat Wiki

Make sure you choose an accountant who understands California tax, since the CA tax code is not as closely tied to Federal tax, compared to most other states.

Now is not the best time to be looking for a tax accountant, since many of them become busy in the run-up to October 15 (all the extensions from April).
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Old Sep 11th 2014, 3:41 am
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Default Re: Tax Specialist or Accountant Recommendation

Thanks for the link.
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Old Sep 11th 2014, 1:48 pm
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Default Re: Tax Specialist or Accountant Recommendation

Have you thought about DIY with TurboTax?
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Old Sep 11th 2014, 7:42 pm
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Default Re: Tax Specialist or Accountant Recommendation

I've received and read mixed reviews on Turbo tax and the like for expat filings. Also, as it's my first filing and the employer is picking up the tab, I'd rather use someone qualified.
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Old Sep 12th 2014, 2:31 am
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Default Re: Tax Specialist or Accountant Recommendation

I am looking for an adviser in the UK who is familiar with the US tax system and who can advise me on US "pre arrival tax planning" - ie, on the best time to move to the USA and how to structure my assets to ensure I am not paying unnecessary tax.

Anyone have any recommendations?
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Old Sep 12th 2014, 1:01 pm
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Default Re: Tax Specialist or Accountant Recommendation

Originally Posted by rangdaa View Post
I am looking for an adviser in the UK who is familiar with the US tax system and who can advise me on US "pre arrival tax planning" - ie, on the best time to move to the USA and how to structure my assets to ensure I am not paying unnecessary tax.

Anyone have any recommendations?
Yes....sell any pooled funds you own in an ISA or outside. Pensions, SIPPs should be ok to own. Depending on your plans you might also want to sell any real estate you own before coming to the US.
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Old Sep 12th 2014, 2:25 pm
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Default Re: Tax Specialist or Accountant Recommendation

Originally Posted by star711 View Post
Hello,

So I need to submit my first tax filing to the IRS before 15th October (I relocated from London to CA on an E2 Visa in August 2013). My affairs are not that complicated (I've property, savings and pensions in the UK) and nothing here. I've searched through the threads but the only recommendation I was able to find was for <<<snip>>> - I've left a couple of voice mails but not heard anything back from them. Naturally, I would like someone who is familiar with dealing with British expats tax filings.

Cheers
I will PM you the details of the CPA who does my taxes. He was my neighbour for 9 years (in California). I recommended him a few years ago to another member and she has been happy with his services.
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Old Sep 12th 2014, 2:52 pm
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Default Re: Tax Specialist or Accountant Recommendation

Originally Posted by nun View Post
Yes....sell any pooled funds you own in an ISA or outside. Pensions, SIPPs should be ok to own. Depending on your plans you might also want to sell any real estate you own before coming to the US.
Why? There are tax treatys....owning property is ok as long as you declare it with the tax treaty you avoid double taxation.
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Old Sep 12th 2014, 3:19 pm
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Default Re: Tax Specialist or Accountant Recommendation

Originally Posted by unique_boy View Post
Why? There are tax treatys....owning property is ok as long as you declare it with the tax treaty you avoid double taxation.
The tax treaty only gives relief from US tax for US tax payers in a small number of circumstances. If you own foreign pooled investments outside of pensions recognized by the Treaty they will be taxed in the US at high rates as Passive Foreign Investment Corporations.

The sale of real estate can pose problems if it is not your primary residence and if there has been a foreign exchange gain on the mortgage.
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Old Sep 13th 2014, 1:53 am
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Default Re: Tax Specialist or Accountant Recommendation

I have owned my house in the UK for 35 years - there is now no mortgage on it - and it has gone up in price a great deal.

It was my primary residence for the first 25 years and is now let out. From what I have read elsewhere, if I sell it after I become UK tax resident, I will be liable to US CGT on the rise in price since the day I bought it (less the US personal allowance) and I need to establish if this is correct!
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Old Sep 13th 2014, 3:04 am
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Default Re: Tax Specialist or Accountant Recommendation

Originally Posted by rangdaa View Post
I have owned my house in the UK for 35 years - there is now no mortgage on it - and it has gone up in price a great deal.

It was my primary residence for the first 25 years and is now let out. From what I have read elsewhere, if I sell it after I become UK tax resident, I will be liable to US CGT on the rise in price since the day I bought it (less the US personal allowance) and I need to establish if this is correct!
Are you a US citizen?

A US citizen or tax resident who sells a property that has not been their primary residence for at least 2 out of the last 5 years is liable to CGT on that sale, the primary residence $250k single tax free allowance or $500k married tax free allowance doesn't apply. However, if the the house is rented you should have been depreciating the value of the home and certain contents.
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Old Sep 13th 2014, 11:41 am
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Default Re: Tax Specialist or Accountant Recommendation

I am not a US citizen or tax resident. My wife is entitled to US citizenship and if she moves to the USA I will go with her of course so I will become tax resident there. I am not planning to sell my UK property which is rented out until after I have become a US tax resident.
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