CONTRACTORS
28 days on, 28 days off.
Many taxpayers employed in the oil & gas and construction industries work in foreign countries through intermediary agencies. These agency companies operate in the United State and numerous foreign countries. Many contractors work on a rotational basis which can present unique challenges regarding residency and tax requirements in the various tax jurisdictions in which they are posted.
We can help contractors understand all available income exclusions, expense deductions, and potential tax credits they qualify for on their US income tax returns. As a contractor working overseas you may be able to take advantage of the Foreign Earned Income Exclusion (up to $ 107,600 for the tax year 2020), the Foreign Housing Exclusion, or the Foreign Tax Credit.
We can also help you understand any of your applicable US Social Security tax and other reporting requirements if you hold foreign financial assets.
If you’re filing expat taxes for the first time, even in fairly routine situations, it’s a good idea to retain professional assistance. Looking for personalized, professional attention? Get started with a mini-consultation and a no obligation quote on your 2020 taxes.
Haven’t filed in a while? We assist clients with Streamlined Compliance - a group of filing relief programs offered by the IRS.
“The hardest thing in the world to understand is the income tax.”