Individuals and Families
U.S. Citizens living abroad are taxed on their worldwide income.
Whether you are a resident of the taxable or tax free and whether you are a permanent resident or gone on a temporary assignment overseas, your U.S. tax jurisdiction exposure has to be dealt with extreme care to ensure that you get maximum benefit available under U.S. tax codes.
GN Global provides a full range of international tax consulting services
Individuals and families with international wealth require advisors with the highest level of skill and dealt with successfully complex global tax issues.
GN Global has built a team of advisors with multiple professional credentials. They have experience in a wide range of industries.
Our goal is to take maximum advantage of incentives offered by tax regimes around the world so as to preserve the wealth of our clients.
If you are a U.S. Citizen or residing abroad with or have assets overseas, you are required to report them to the IRS accurately. IRS has resources available under FATCA and other rules, regulations, and laws to find out foreign income and assets not reported by U.S. Citizens living abroad.
Preparing U.S. tax returns are complex and often can be challenging when you add income from more than one jurisdiction and have assets located globally.
You, as U.S. Citizen are required to file income tax, estate tax and gift tax returns wherever applicable. You are also required to file returns showing your bank accounts information and assets worldwide.
Tax Preparation
We prepare the full range of U.S. personal tax and information returns including:
- Individual U.S. Federal tax returns;
- Individual State income tax returns;
- Business income tax returns;
- Foreign Bank Accounts Reporting;
- Other Internal Revenue Services forms including Foreign Partnership reporting and Foreign Trust reporting.
We, at GN Global ensure that while preparing your tax returns, we take full advantage of all available deductions and credits. In all our engagements, our objective is and will be to minimize your tax liability. Our tax experts ensure that your tax returns are completed accurately and filed within the dates set out by the IRS.
Asset Protection
You have built up assets with hard work. Some time efforts of more than one generation had been poured in. You will not want this wealth is lost by fictitious claims, lawsuits, theft or by huge penalties of the IRS.
We, at GN Global have an expertise and have strong U.S. affiliates who can help you protect your assets worldwide by well-tailored asset protection plan.
We can help you creating Trusts or any other legal vehicle under which your assets are well protected, the way children are protected by their parents.
U.S. Citizens Living Abroad
You may be one of the seven million U.S. Citizens living abroad. The problems all Overseas Americans face are similar in nature. Some of these problems are:
- Possibility of double taxation
- Taxation of Capital Losses and Capital Gains
- Consequences of Offshore Voluntary Disclosure Program (OVDP)
- Opening, maintaining and closing foreign bank accounts
- Disinvesting in U.S. Securities
To address these issues, you need advisors who have full knowledge, experience and with whom you have complete Trusts.
Experts at GN Global have been helping Overseas Americans since over more than 10 years. Dubai hosts citizens from more than 100 countries. This provides us an opportunity to address and solve issues faced by the citizens from these nations. Fundamental to these issues are taxes, corporate structure planning, and banking. Partnership with GN Global means safe and smooth sailing
Foreign Account Tax Compliance Act (FATCA)
The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally required that foreign financial Institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on withholdable payments. The HIRE Act also contained legislation requiring U.S. persons to report, depending on the value their foreign financial accounts and foreign assets.
U.S. Citizens living abroad may be unaware of various reporting requirements. If any U.S. Citizen approach a bank or a financial institution to open an account, he or she would certainly be required to fill in one of the FATCA Forms.
But FATCA also requires that if U.S. Citizens living abroad have assets over the certain threshold, they need to report these to the IRS.
GN Global team can help you in handling your FATCA related queries. We can identify which of your assets are reportable. We can also assist you in completing the forms required to be completed and sent to the IRS.