US Tax Provider

[bcarter77]

Hey Everybody

Has anybody here used US Global Tax (http://usglobaltax.com) before? I have been dealing with Dave Tzimenakis there and before I use them for my returns, I wanted to check if anybody has had any good or bad experiences with him?

Any advice appreciated!

[richsadams]

I've talked to Dave and he seems knowledgable but we haven't conducted any business with them yet. I'd also be very interested in anyone's feedback.

Best of luck and keep us posted!

Cheers,

Rich

[bcarter77]

Thanks Rich :-)

I have spoken with a few companies (I think Dave was at another company before?), but he seems to know what he is talking about, and there are some good reviews on the US Global Tax on Google.

I think I'll go ahead and let you know how it goes.

I only moved over earlier this year, and have probably buried my head in the sand for too long now :-/

Cheers
Brian

[richsadams]

Hey Brian!

Sounds good. Our only immediate concern with US Global Tax was that they seemed a bit pricey. But honestly if they know what they're doing it's probably worth it.

IIRC Dave might have worked for US/NZ Tax Specialists? We never used them either but they have a lot of good info on their website. This article called "New Zealand Tax Traps" is instructive. They might be an alternative if US Global doesn't work out.

When we lived there we used a small firm for our business called Grace Team located in Tauranga. They were very good but of course they specialized in NZ Tax law. However they did help us with paperwork for our U.S. returns.

Unless you renounce your citizenship you're stuck with filing in two countries...a real PIA. Finding someone that knows both sides can be good as gold as they say. We'll look forward to hearing how things go!

Cheers,

Rich

P.S. Forgot to mention that the firm we actually used for our US/NZ personal taxes when we were living there, Buckman GTN Chartered Accounts in Auckland, no longer exists. Turns out the main partner, Murray Buckman is now an Adjunct Professor at Golden Gate University in San Francisco...not so far from where we live at the moment! Small world.

[bcarter77]

Thanks Rich,

It’s been quite a journey so far, nobody tells you that your move doesn’t end once you’ve landed in NZ!

Speaking candidly, I had spoken with NZ/US Tax, but the person I spoke to (Sharen?) didn’t fill me with much confidence. I had a quote from them for what I thought was a simple situation, turned out to be nearly double compared to US Global. But, I know I’ll have to pay to get it right.

It looks like maybe US Global are a bit of a newer company, but I see they have got a few articles online which are worth a read too. After just reading 965, I won’t be setting up an NZ LLC!

Thanks for the article share, that definitely might come helpful.

I think I’ll put pen to paper with Dave today, and hope all goes well.

Cheers
Brian

[diallta]

It looks like maybe US Global are a bit of a newer company, but I see they have got a few articles online which are worth a read too. After just reading 965, I won’t be setting up an NZ LLC!

I'm no tax advisor, and the situation with the US tax code is pretty horrendous, but looking at Section 965 it shouldn't be too painful if you don't already have any established foreign corporate presence. If you were considering being self-employed the situation could be worse if you're not operating under the construct of an LLC.

What you definitely want to ask your tax advisor about is hazards with the PFIC (Passive Foreign Investment Company), Form 8621, which can affect your filing and tax liability in the US if you have any "passive foreign investments," which could be as simple as a Kiwisaver or other PIE. It's a massively costly and time consuming pain.

But, again, I'm not a tax advisor.

[richsadams]

I'm no tax advisor, and the situation with the US tax code is pretty horrendous, but looking at Section 965 it shouldn't be too painful if you don't already have any established foreign corporate presence. If you were considering being self-employed the situation could be worse if you're not operating under the construct of an LLC.

What you definitely want to ask your tax advisor about is hazards with the PFIC (Passive Foreign Investment Company), Form 8621, which can affect your filing and tax liability in the US if you have any "passive foreign investments," which could be as simple as a Kiwisaver or other PIE. It's a massively costly and time consuming pain.

But, again, I'm not a tax advisor.

Good info, thanks!

[bcarter77]

Thought I'd give an update...

Signed on with US Global Tax, its all going well so far. They've been asking for a lot of information, but Dave has been really clear throughout.

Arranging a meeting with him next week to discuss bringing my IRA over, will keep you updated.

[richsadams]

Thought I'd give an update...

Signed on with US Global Tax, its all going well so far. They've been asking for a lot of information, but Dave has been really clear throughout.

Arranging a meeting with him next week to discuss bringing my IRA over, will keep you updated.

Thanks very much! Your feedback will be invaluable for us and many others. Much appreciated.

[bcarter77]

Good Morning All!

Funnily enough Diallta, that is one of the things I'm meeting with Dave about next week! I sold my fidelity investment last year and have put it into a MILFORD fund here. Dave has discussed with me that I have a PFIC, so now I'll be getting some advice from him on how to mitigate the issue.

He tells me that an article about PFICs is scheduled on their website some time later this month. But I'll update you all on progress and how the meeting goes next week.

Cheers