Uk/USA Tax specialists

[AndrewP]

Hi. I’ve recently got my green card for the USA. I still have a 15 yr old son here in England as well as a lot of responsibilities, so am still back and forth.
I’m panicking about tax and other financial things, mainly where and when I need to be paying it.
I work in music and therefore tour worldwide so I haven’t simply upped sticks to the USA.
Is anyone who gets on here a uk/USA tax specialist, or can anyone put me in touch with anyone that may be able to help me?
Many thanks in advance.

The UK don't tax expats, just pay your US taxes. Remember to repay student loans though, if you have them.

I'm presuming you're just (regularly) visiting the UK.

 

[Blame Me]

I was wondering about the green card too it is possible with out a previous visa but pretty rare. Agree too that you will have to get savvy about UK things and how they apply in the US since everything you read is so US centric. Expat boards have some interesting (and some dubious) examples.
I didn't mention PFICs - you might want to hide behind the sofa while you read about those.

When we found out about the PFIC's we shit a brick, we were 20 years in the US before we ever heard about them We thought we were doing everything thing we were supposed to do and then those cropped up, the wife thought she was about to be locked up and all our cash taken from us

 

[AndrewP]

Listen to this man as a starter. Then get yourself a tax adviser in the US city and state you are most frequently working / resident in. US tax is not something to have a stab at. I cost myself thousands of dollars in unnecessary city tax trying to do it myself (I'm an accountant but not a US tax accountant...).

If you are working in the UK, have significant assets here before you moved or are resident here more than 90 days a year I'd get an accountant in the UK to advise you too. UK tax isn't as complex as US tax as there isn't the same level of local taxes or deductions that they have, but you still need to make sure you keep yourself right. Wild Card talks a lot of sense, so I'd take him up on his kind offer.

Here's me thinking turbo tax was some sort of god. I'm probably on an IRS watch list.

Also it would have helped if I had properly read what he said in his post.

Ignore me OP.

 

[gabbiadini1]

It did for us when we went all those years ago, after that it was all plain sailing (mostly) and now we are US citizens.

In all honesty we found the US tax system fairly simple and did most of it on our own until we made the choice to have an expert tax man file for us as that took a bit of time to do and I value my time so payed up (around $400 a time and well worth it).

Just out of curiosity, you've said you've just got your Greencard so surely you must of been doing your US tax before now when you had a US visa, nothing apart from if you had a visa and leave you don't need to file taxes going forward.

Enjoy the ride and if there's anything else I can help with, drop me a message

Yea

I was wondering about the green card too it is possible with out a previous visa but pretty rare. Agree too that you will have to get savvy about UK things and how they apply in the US since everything you read is so US centric. Expat boards have some interesting (and some dubious) examples.
I didn't mention PFICs - you might want to hide behind the sofa while you read about those.

@Blame Me also…
I have had o2 visas on 4 seperate occasions before this that lasted 3 years each respectively. I never had to pay tax there with those as I was touring with a band and taxed in uk.

I got the green card as I married an American… it had nothing to do with my job etc.

I think I’ll wait to read about PFIC’s . I’m already not sleeping properly!

As I said previously, I think my situation Js quite unusual, as I’m going to be back and forth a lot between here and the USA, plus I work worldwide, so theoretically I could get that income paid wherever.

I feel a LOT happier just getting the ball rolling, and once again thavns to everyone on this thread that’s contributed. I really didn’t even know where to start, and now feel like somethings happening..! Appreciate it a lot.

 

[Blame Me]

That explains things and as has been mentioned you probably need and expert on this side of the pond and the other. Not only because you are between the both because you are world wide.

Good luck with it, and yeah, forget about those PFIC's for now

 

[THELORDRODWELL]

Turbot ax sounds a bit fishy