REgarding to TAX report

[kjjib00]

Hi All
I relocated Singapore at last October. I'm going to 2013 TAX report so I'd like to know how I can make a process. Is there anyone who can advice me? When I talked with TAX expert when I was in USA, he told me the cost was around $2,000. I have no idea whether I should work with him or not. Thanks for your help in advance and Have great day. Thanks

[PNGMK]

Hi All
I relocated Singapore at last October. I'm going to 2013 TAX report so I'd like to know how I can make a process. Is there anyone who can advice me? When I talked with TAX expert when I was in USA, he told me the cost was around $2,000. I have no idea whether I should work with him or not. Thanks for your help in advance and Have great day. Thanks

Are you talking about Singapore income tax?

Go to IRAS.gov.sg

DOn't pay $2000 - it's a2 page form filled out online. However you don't need to file til April 15 2014 anyways and you probably won't have a form to fill outline yet.

You'll need a Singpass (instructions are there how to get one).

[zzm9980]

If you're talking about your US Income tax, there is someone who advertises on this forum called Artio Partners. They charge much less, maybe $500 not counting the FBAR. If you're unable to handle your own US Income taxes, then I'd recommend them.

[livingontheedge]

Income tax review for your US income tax payment? $2k is quite expenses. I am certain there are local tax firms in Singapore could do this for lower. PM me and I will refer.

[kjjib00]

Hi All. Thanks for your reply. I can't send PM because I'm very new here. Please send me the mail to me [email protected], please.

[maneo]

If you're talking about your US Income tax, there is someone who advertises on this forum called Artio Partners. They charge much less, maybe $500 not counting the FBAR. If you're unable to handle your own US Income taxes, then I'd recommend them.

Yes, it's getting to be US Income Tax time again.
Fees of $2K or more are what you might expect from a Big 4 accounting firm.

The lead on Artio is interesting.
How about Taxes For Expats?
They also have a more reasonable flat fee.
Has anyone here used either one?

For those not daunted by doing their own taxes, comparisons of online tax software seem to suggest that TaxAct may work for overseas filers:

http://www.consumerreports.org/cro/2012 ... /index.htm
http://www.techsupportalert.com/best-fr ... ftware.htm
http://www.moneycrashers.com/taxact-vs- ... -software/

Comments from users indicate mixed results for TurboTax and H&R Block's software.

Any expats here have experience with any of these software packages?

Even the IRS has a form filling service (with a possibility of e-filing):

http://www.irs.gov/pub/irs-utl/General_FAQs.pdf


SMS - what's your take on all this?

[sundaymorningstaple]

Honestly, I've been filing my own manually since I left HRB in 1977. I read up on the publications every years (downloaded electronically) fill out the forms from my instructions and research additionally where I need to. Obviously if one has never had to fill out a complicated return, they might need help and a tax prep service would be the way to go. How much to spend is another story. I've not lived in the US for 32 years so have never had the opportunity to try any of the software that's out there so really cannot have an opinion. My returns have grown in complexity over the years but it's cumulative knowledge and not a thing where it would overwhelm anybody who has kept up annually.

If you want piece of mind, use a paid professional. Which one? It's a case of expectations I suppose. When you buy a car do you buy an expensive one and thing just because it's expensive it's good if you only used it on the weekends? Seriously, no opinion.

[zzm9980]

The lead on Artio is interesting.
How about Taxes For Expats?
They also have a more reasonable flat fee.
Has anyone here used either one?

I used Artio my first year here where it was a mixed year with US and Singapore income. I picked them because they used to advertise on the forum here.

[maneo]

The lead on Artio is interesting.
How about Taxes For Expats?
They also have a more reasonable flat fee.
Has anyone here used either one?

I used Artio my first year here where it was a mixed year with US and Singapore income. I picked them because they used to advertise on the forum here.

I see from your reply to californiagal last year that you were "more than satisfied with their service." That sounds good.
I presume that you communicated with them via e-mail or telephone, so I guess there's no issue with a "remote" service.

Did you do your own taxes manually last year?

When the situation is relatively stable, it makes sense, since it should just be a matter of modifying a few entries. Of course, this year there's the NIIT on investment income & the additional Medicare tax, both of which may kick in for families with 2 wage earners that must file.

Doing your own taxes manually again this year?

[zzm9980]

Yes, last year my situation allowed me to use TurboTax online.

Communications with Artio were via email, and document exchange via their secure website. You could also communicate by the website too I believe.

[maneo]

Honestly, I've been filing my own manually since I left HRB in 1977.

What do you think of the IRS's Free File Fillable Forms?
http://www.irs.gov/pub/irs-utl/General_FAQs.pdf

Looks like it might make filling out & filing your own forms a little easier.
This sounds like a good idea for the IRS since they're so eager to get people to pay them.


Have also heard some people say they prefer to have a tax accountant prepare their taxes to improve the odds against being audited.
Seems plausible that the IRS might factor this in to their red flag algorithm.
Myth?
Or, is there any basis for this?
Wonder if there are any former IRS agents that could shed some light on this.

[sundaymorningstaple]

maneo, when I say manually, I mean as opposed to using turbotax or the like. I've been downloading and using the free fillable PDF forms since they started producing them. Even before they stopped sending the full tax packages, what, around 3 years ago? I used to just read them, and still use the fillable PDF ones as it was easier and better than scanning the hardcopies.

I really don't know the odds on the audit/non-audit depending on who filled out the forms. I went to my fair share of audits but all the audits I attended to except for a handful, I always won for my clients as I was a stickler for accuracy. I've only been called for an audit that one time and it never transpired but just a chit-chat between two professional over previous history. As far as I know, the algorithm has always be a point spread compiled on what, and at what quantum of the individual lines on the tax return. That and percentages of expenses (this one tends to draw more red flags than anything - or at least it used to). Each line on the tax return will have an average percentage based on the income reported and if a combination of lines/percentages fall outside the norm, usually an audit will transpire or at least a request for additional information.

Unsure now, with that idiot in the White House, what the hell is going on as it looks like the IRS is also being used as a pawn by the barsteward and his dumbocrats to target conservatives, so it's anybody's guess now.

[maneo]

maneo, when I say manually, I mean as opposed to using turbotax or the like. I've been downloading and using the free fillable PDF forms since they started producing them. Even before they stopped sending the full tax packages, what, around 3 years ago? I used to just read them, and still use the fillable PDF ones as it was easier and better than scanning the hardcopies.

I suspected you were already using the free fillable forms.
Am glad to see that they have been helpful.

It seems like these fillable forms are "semi-automated," doing some of the calculations. Every little bit will help.

It's good to see that the IRS has made some progress over the years in improving the info, forms & services available through the website.
Even the wording in the various instructions seems to have become somewhat simpler.

Since we can't seem to escape taxes, the least they can do is to make the burden of filling & filing a little easier.