Tax professional and owner and CEO of Home Time Business Services, Kim Erick, joins Megan on the podcast today. Kim shares her expertise on taxes and their overlap with immigration and answering questions from listeners such as whether one needs to include their spouse on their taxes if they are married, and what the benefits of filing jointly are. She also provides tips on how to be fully informed and educated about taxes and the IRS, as well as highly useful information on how to navigate the often-complicated world of taxes and immigration.
During their conversation, Kim and Megan explore the topic of compliance with both the IRS and Immigration. Together, they share information regarding taxes for US citizens living and working abroad, working for foreign companies, whether or not taxes are required to be filed in such cases, and how it all impacts the immigration process. Whether you are a US citizen living and working abroad or are just looking to be more informed about taxes and immigration, today’s episode will provide you with the valuable information and insights you need.
Taxes and immigration
The benefits of filing jointly with a spouse
Tips on how to be fully informed and educated about taxes and the IRS
Information about dependents
Navigating the world of taxes and immigration
Compliance with the IRS and Immigration
Taxes for US citizens living and working abroad
ITIN numbers for family members living abroad
Tax treaties with other countries
Taxes while working for a foreign company
Asking the right questions when looking for a tax professional
"Kim's zone of genius is everything to do with taxes."
"The IRS can be scary."
"Most of my clients, the savings can be anywhere from a thousand to a couple thousand by filing jointly versus separately."
"Immigration will be looking for this, just like the IRS, that if you're married, you're doing things as a married couple would do."
"Individuals who try to maybe do their own and they don't fully understand the tax code will run into issues."
“Being in compliance with the IRS and Immigration, that's definitely a good thing."
"I've seen people that are in a spot where there is that tax treaty in place and so any income earned there is not counted."
"You can also live in the United States but be employed by a foreign company. So there's a lot of different scenarios that can happen."
"When you're looking for a tax professional, ask those questions.’ Have you ever done a tax return with foreign income or with foreign bank accounts?’"