Americans who move abroad frequently find that their expatriate budget allows them to hire local people to help with routine household chores, a luxury they couldn't afford back in the States.
Doctors, lawyers and other professionals in foreign countries often work for quite a bit less than their US counterparts as well, which is one reason why many expats experience less financial stress than they did "back home.
" Hiring local help is not a realistic option for Americans living overseas, however, when it comes to US income tax assistance.
Only a US CPA or other qualified tax professional has the expertise that US taxpayers require when they need help filing federal tax returns or dealing with the IRS.
A US CPA who does tax work anywhere in the 50 states must be well-versed in the latest federal tax regulations and how they affect each client.
Expats need something more, though, in terms of tax assistance: they require a US CPA who is thoroughly well-versed in the complex tax code provisions that apply specifically to Americans whose residence is in a foreign country.
IRS regulations regarding foreign residence, which are quite detailed and take hours just to read, are not the stock in trade of the typical US CPA whose clients live in the States.
Tax treaties, the bona fide residence test, the foreign earned income exclusion and the physical presence test don't come up very often in the average US CPA professional practice.
Yet these provisions are of vital relevance to millions of American expats who must continue to file US federal tax returns in a timely manner while they live abroad.
Today's expat has easy access to instant online communication with friends, family members and professional associates, including a US CPA to help with their taxes.
Of course, the confidentiality of sensitive financial information sent over the Internet demands that a US CPA working online with overseas clients have the latest encryption software to guarantee client privacy.