When you have self-employment in a foreign country, you could be required to pay self-employment taxes in the US. Take the additional step of obtaining a Certificate of Coverage. If you need to know if your home country is eligible, just ask.
When it comes to reporting your various accounts on forms like the FBAR, 8938, and 3520, don’t assume that just because an account is small, that the IRS isn’t interested in it. Be aware of your small accounts, and please share the details with us.
The client relationship for us is one of trust, but it has to run both ways. We sometimes assist clients who are tempted to do something we call ‘trickle-truthing’, where the client decides what information we need, and what is relevant, when we request tax information and records. Please remember that we are not your adversary, so please don’t shoot the messenger or hold back important information.
Sometimes we have to ask for information you wouldn’t normally expect to provide. We are motivated to make the process of preparing your US tax returns as smooth as possible, while reducing risk along the way.
Tax filing status in the US is often contradictory, and definitely less than intuitive. Avoid assumptions about how you are going to file, and file truthfully.
