Frequently Asked Questions
US Expat Tax Services and Pricing
Greenback is the expert in providing expat tax services at competitive pricing. Discover our US expat tax filing fees and what they entail!
- Can you help me renounce my US citizenship?
- Are there flat fees for the US expat tax forms and schedules that are not commonly used?
- Can you file Form 1120S for my S-corp and how much would it cost?
- Do you offer American expat tax consultation or tax planning services?
- Does Greenback add sales tax or VAT?
- How can I pay for my US expat tax services?
- How can I spread the word about Greenback Expat Tax Services?
- How can you guarantee satisfaction with your US expat tax services?
- How do you treat employer contributions to the Australian superannuation plan?
- How does the expat tax preparation process work?
Can you help me renounce my US citizenship?
The decision to renounce your US citizenship is a big one, and if you have decided that it is the right choice for you, we can certainly help!
The renunciation process requires you to be caught up on your US tax obligation, which may mean filing up to 8 tax returns at one time as well as the Foreign Bank Account Reports. We can prepare all of these documents for you and help you file them with the IRS. The actual steps to renounce your citizenship and the number of returns required can vary based on the rules in your local US embassy, so we recommend speaking with someone there first, and then contacting us to do the tax return preparation for you.[back to top]
Are there flat fees for the US expat tax forms and schedules that are not commonly used?
Yes. Because our goal is to be as up front as we can be with our customers about our pricing, we make it a priority to establish flat fees whenever possible. Our pricing includes the most common forms and schedules that most expats need to file including:
- All standard expat forms: Forms 1040, 1116, 255;
- One of each of the following schedules: Schedules A, B, C, D, E (one rental property);
- Up to three Schedule K-1s; and
- Up to 20 bank and brokerage transactions.
If you need any additional forms or schedules, we are happy to prepare those for you as well, and a list of the fees we charge for each can be found under Additional Schedules.
In most instances, our customers do not need additional forms or schedules filed on their behalf. But for those customers with more complex tax situations, we do our best to make the pricing as clear as possible.[back to top]
Can you file Form 1120S for my S-corp and how much would it cost?
We can file the tax documents for all types of small businesses including an S-corp. Specifically for an S-corp, you would file using Form 1120S and then report the income on a K-1 along with your personal tax return. In this case, we would charge $585 to complete Small Business Tax Returns (Forms 1065, 1120, 1120-F, 1120-S) and $585 to complete your 1040 and the associated forms, including the K-1.[back to top]
Do you offer American expat tax consultation or tax planning services?
Expat tax advice can be hard to come by, and for those living abroad, getting solid advice is important so that you can plan appropriately. We offer tax planning and advice services in order to help answer your questions and help you make smart tax planning decisions while living abroad.
If you have a specific question on personal or business tax returns, our accountants are on hand to offer consultations on these matters. The fee for these services is $250 for 30 minutes.[back to top]
Does Greenback add sales tax or VAT?
Here at Greenback, we work very hard to keep our prices as low as possible for our clients. In addition to our flat fees, one of the bonuses of working with Greenback is that we do NOT charge sales tax or VAT.
This means you automatically save about 20% just by choosing Greenback compared to a firm in Europe, Australia, or Canada![back to top]
How can I pay for my US expat tax services?
We accept MasterCard, Visa, American Express, Diner’s Club or JCB for payment. In cases where that is absolutely not possible, you can also wire money directly to us, but there is an additional $25 charge for the incoming wire transfer. If you need to pay via wire transfer, email us at [email protected] We do not accept paper checks.[back to top]
How can I spread the word about Greenback Expat Tax Services?
There are multiple ways to spread the word about Greenback. You can head on over to our Facebook page, give us a “Like” and share your experience with your friends and why they should use us for their US expat taxes.
If you are a member of any expat groups (or just groups that have lots of expats), put up a post on their website or intranet letting them know about us. Make sure they know to tell us that you referred them!
Remember, we love feedback – positive and constructive! The best place to provide us with feedback is via our Trustpilot Verified Reviews page. Please feel free to tell us what you did and did not like about your experience as we always welcome suggestions for improving our process.[back to top]
How can you guarantee satisfaction with your US expat tax services?
At Greenback we stand behind our services 100%. Your final return will not be uploaded until you have confirmed that you are satisfied with the draft return provided by your accountant. As an additional measure of comfort, we offer a 100% money-back guarantee in the event that you are unsatisfied with your return preparation.[back to top]
How do you treat employer contributions to the Australian superannuation plan?
The Australian superannuation fund often causes confusion for American expats residing in Australia, especially when it comes time to report it on your US returns! One of the biggest questions we receive is how the employer contributions are treated.
Employer contributions should be treated like compensation. So, for foreign tax credit purposes, it will fall in the general income category. These contributions would need to be included in the return as income. If you are considered a highly compensated employee, some additional rules apply.
A highly compensated employee is currently an individual receiving salary of $110,000 or more. In this case, you should also look to include the growth in the fund (earnings minus expenses) in addition to the contributions. Fortunately, a foreign tax credit can be claimed for the 15% contributions tax. Neither the employer contributions nor growth can be considered earned income when calculating the Foreign Earned Income Exclusion.[back to top]
How does the expat tax preparation process work?
1. Once you confirm you’re ready to get started, we will send you a copy of our tax questionnaire, and one of our accountants will contact you via email to introduce himself or herself, answer any preliminary questions, and learn a bit more about your particular situation.
2. You will set up an account in our secure customer portal – the Greenback Tax Companion – where your documents can be easily uploaded and accessed.
3. Once you have uploaded all of your tax documents and your questionnaire, your accountant will get started on preparing your return. We aim to have a draft to you within 5 days and it’s often much faster than that.
4. When your return is prepared, your accountant will send you a client review file (essentially, a draft return). You will also receive an invoice at this time. Payment is due five days after your draft return is sent to you. We accept Visa, MasterCard, American Express, Diner’s Club or JCB. Once you are satisfied with the return and have paid your invoice, we will then upload your final return. We will also e-file your return at this time, if we are able to do so. Your tax return will be stored in the Greenback Tax Companion so you will have access to it. Afterward, your accountant will be available to answer any additional questions you may have about your return or future tax planning needs.[back to top]