Moving Internationally? How to Deal with Taxes
Before we even start this post, just remember that we are not tax professionals. What we do know about is moving. We can tell you that if you are moving internationally, there are some things you should remember about dealing with your taxes.
A key thing to remember is that tax laws are frequently revised and amended. So, if you read this post a couple of years from the date of original publication, you should check out the IRS site or a tax professional for any new information for people moving abroad.
Moving to another country doesn’t usually remove you from the reach of the United States’ tax laws. Basically, any income or investments made or realized at home are subject to the U.S. tax code. Your earnings in your new country may or may not be subject to tax in the new country. Depending on how your country of residence is defined, you may need to pay taxes to your host country, your home country, or both.
If you are moving abroad for work, your employer may actually provide tax counseling and assistance. If not, you should contact an international accounting firm, or accountant, that can help with these issues. Don’t ignore them!
Before you move, it is also a good idea to contact the appropriate government agencies to figure out what your tax responsibilities actually will be. You may likely want to reach out to the IRS as well as the equivalent agency and consulate in your host country.
Lance GroomsBack to all blogs
Request a FREE Quote Now