US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
It's time to start thinking about your 2024 US tax compliance
US Global Tax
Accounting
Auckland, Auckland 849 followers
US Tax Specialists | Helping clients and professional advisers in Australia and New Zealand navigate US taxes
About us
US Global Tax is growing at a phenomenal rate, and we’re now one of the largest US tax providers in Australia and New Zealand. First and foremost, this is because of our fantastic team of people. Not only are they all experts in their field, but they are all given authority to make decisions and act in the best interests of our clients. They are driven professionals who want to make a difference in people's lives and alleviate stress and anxiety when it comes to US taxes. Of course, our core business is assisting US citizens, organisations, and all other non-US citizens with ensuring compliance with their US tax obligations. We provide cost-effective tax return preparation and consulting services that deliver above and beyond. However, a large part of our business – and our mission – is to educate financial advisers, mortgage brokers and other professional service providers about US taxes, FATCA and their obligations concerning these. Too often, we meet people who have been poorly advised losing money and being exposed to risk when filing (or not filing) their US taxes. Worryingly, businesses and individuals suffer severe financial penalties and are even charged with federal offences because they are not FATCA compliant (more details below) or file their US taxes incorrectly. Untangling their obligations when it comes to FATCA and US tax compliance in general is where our team shines. So, if you're unsure of your US tax or FATCA requirements, please get in touch with us today for a friendly discussion.
- Website
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http://usglobaltax.com/
External link for US Global Tax
- Industry
- Accounting
- Company size
- 11-50 employees
- Headquarters
- Auckland, Auckland
- Type
- Privately Held
- Founded
- 2014
- Specialties
- US Expat Tax, US Tax Reclaims Services, Global Business Structure, Obamacare Tax Services, FATCA Compliance, and IRS Tax Help
Locations
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Primary
Get directions
62 Victoria St W
Level 2
Auckland, Auckland 1010, NZ
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Get directions
410 Elizabeth St
Suite 114
Sydney, New South Wales 2010, AU
Employees at US Global Tax
Updates
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
How to Process Your Own FBAR: A Step-by-Step Guide
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
US Expats living in Australia – implications of investing in shares.
US Expats living in Australia – implications of investing in shares.
Lance Morris on LinkedIn
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
Happy festive season and thank you to all our clients and friends.
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
It's time to start thinking about your 2024 US tax compliance
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
US Gift Tax - Gifting real property to your spouse.
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
US Citizens IRS Form 1040 Filing Status - overview
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
IRS Trust Filing Deadline 15th of September.
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
What is the Foreign Earned Income Exclusion and why is it important
Understanding the Foreign Earned Income Exclusion (FEIE)
Lance Morris on LinkedIn
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US Global Tax reposted this
Managing Director US Global Tax | Eliminating the fear and the stress people face with their US tax obligations
US Citizens with a Kiwisaver A KiwiSaver account may be considered a grantor trust for IRS reporting purposes if certain conditions are met. In general, a grantor trust is a type of trust where the individual who contributes assets to the trust retains control or certain powers over the trust, such as the power to revoke the trust or make investment decisions. If these conditions are met with regards to a KiwiSaver account, it could be classified as a grantor trust for U.S. tax purposes. When a KiwiSaver account is classified as a grantor trust, the following are some key IRS reporting requirements that may apply: 1. Form 3520: Trust form 2. Form 3520-A: Trust form 3. Form 1040: Personal tax return 4. Form 8938: Foreign financial assets 5. FBAR (FinCEN Form 114): Foreign financial assets 6. Form 8621: PFIC A Passive Foreign Investment Company (PFIC) is a foreign corporation in which at least 75% of its gross income is passive income or at least 50% of its assets produce or are held for the production of passive income. If a grantor trust holds investments greater than the value of US$25,000 that qualify as PFICs, there are certain reporting requirements that may apply. For a grantor trust that is classified as a PFIC, the grantor of the trust (individual who created the trust and contributed assets to it) may be subject to additional reporting requirements on their U.S. tax return. These requirements include: 1. Annual Reporting: The grantor of the trust may need to file IRS Form 8621 annually to report information about the PFIC investments held by the trust. 2. PFIC Calculations: The Form 8621 requires calculations related to the taxation of PFIC investments, which can be complex and may result in additional tax implications for the grantor. 3. Taxation: Income derived from PFIC investments is subject to special tax treatment under the PFIC regime, which can include excess distribution tax and interest charges. If you are a US citizen or greencard holder with questions or concerns about the US tax implications of having a kiwisaver please feel free to contact the team at US Global Tax. NZ – contact Daria on Daria@usglobaltax.com AU – contact Shalen on Shalen@usglobaltax.com Or, me personally on Lance@usglobaltax.com US Global Tax website - usglobaltax.com
US Global Tax - usglobaltax.com
https://www.usglobaltax.com