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Elrona

How to file for 2018 tax year

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I decided I'd better have a look into how to file the taxes for 2018, since I've heard so many horror stories of US tax system and of course it won't be the easiest first year.

My POE was 20th of November and I'll work (and get paid) only for about half a December. While in US, I have had income to my Estonian account as a member of board fee (so not salary), so I guess I'll need to add that. But do I also need to add the income I earned in other countries in 2018 while not US resident? 

 

If anyone has recommendations for accountant, bookkeeper or whoever can help with that kind of stuff, I'd be very interested!

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I recommend you do what I did.  Hire an experienced accountant who knows how to navigate the US tax system....at least for the first year.  Tax status,  Income reporting, FBAR thresholds, and foreign held assets can be complex.......Good luck.

 

I have a good accountant located in Dallas.

Edited by missileman

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There are tax preparers who specialize in international/US tax filings. They would be helpful if you need to file in other countries as well as the US.  They need not be located in your city.  Otherwise use only a CPA or "enrolled agent" and not the companies that setup in stores and malls.

 

ETA:  You might want to PM Missleman for his person's contact info.

Edited by CEE53147

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7 hours ago, CEE53147 said:

There are tax preparers who specialize in international/US tax filings. They would be helpful if you need to file in other countries as well as the US.  They need not be located in your city.  Otherwise use only a CPA or "enrolled agent" and not the companies that setup in stores and malls.

 

ETA:  You might want to PM Missleman for his person's contact info.

Thanks! Will find someone for sure, to help through that maze! Missleman did say that their accountant is in Texas. I think maybe I'll need to find someone from Colorado, because there is also federal tax return or aren't the differences too big between states?

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Federal taxes only have an influence from a state in the "state income tax deduction" on itemized deductions form.  I believe it is more important to have someone familiar with the filing requirements for the other countries involved.

 

If there is an organization of Estonoian expats or immigrants, you could ask those people for suggestions.  If there is a US-Estonian law firm, they may have a tax practice.  You are more likely to find them based out of an East Coast city like New York City or Washington, DC.

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I was rather surprised by how much accountants wanted to charge to handle my taxes in this situation.  I got quotes of $1500+.  It was worth it for me to DIY.


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The US taxes are not really the problem at all, it is that you talk about several countries.

It depends somewhat on whether the US has a reciprocity agreement with the respective country. Then, in a VERY simplified way, you report all your worldwide income for the year, including investment income, etc., calculate complete tax due in the US and deduct tax already paid in other countries.

I agree, the first year can be daunting due to working, earning, and living in more than one country. It will get MUCH easier after that.

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