The Benefits of Hiring an International Tax Attorney
For the past 50 years, it is easy for the world to be more connected unlike before because of easier transportation and communication. People are now easily connected with individuals from other countries, which was not people with the earlier generation. They may be separated because some of them have permanently moved to another place in a different country. The number of expats has also grown over the years especially because of the work and living opportunities abroad. Because they are living in a different place than where they used to be, they should hire the services of an international tax attorney who will handle their concerns and avoid the practice of tax evasion or fraud. These legal professionals have the expert knowledge on international tax laws and can handle issues that they are currently facing.
- f you are one of these people, you should be aware how knowledgeable the attorney is regarding the clauses and exemptions that exist within these tax laws. This is often the case of multi-national companies who need to hire an international tax attorney to work especially for them. The international tax laws are very in-depth and complicated so they need an attorney who is well-versed on this matter.
However, it is not only these companies that need the services of an international tax attorney. Consider also those US citizens who need to be aware of the difficult situations when they are involved in tax fraud and evasion. There are instances when they need to hire one. They are living abroad for a certain period of time, have brought property abroad, are working abroad, or planning to permanently leave the country and settle in another one. Additionally, their source of income is coming from outside America. For a non-US citizen, he should also hire one if he is working in America, has brought property in America, and has invested into business in America. Know more about FBAR.
Having the attorney will make sure that the person will not commit tax evasion or fraud while it is also a convenient option to save money. He is not obliged to pay double in tax even if he lives in two countries all throughout the year because of his work. The attorney can help him find clauses to be exempted from tax because of foreign income or property that is based abroad.
Multi-national companies are not the only ones that need the services of an international tax attorney. Many people from other countries are now living and working in the US. At the same time, some US citizens choose to work or live abroad. The attorney can help to make sure that all their tax affairs are in order and no tax evasion or fraud is committed.