clintjohnson
New member
Hello!
I’m a US expat in my 20s living in Canada - started my career here. Thus far, I’ve been filing my own taxes using TurboTax and use Foreign Earned Income Exclusion, which covers my earnings.
While I have a good sense about PFICs, FBAR and US-Canada tax treaty, I still sometimes am concerned that I might file incorrectly or am not managing my money in the most tax efficient way.
1) is TurboTax Deluxe sufficient for tax filing as an expat? Should I be considering other options or should I even be going to an expat tax service?
2) should I be filing for a foreign tax credit instead of foreign earned income exclusion? The one benefit I can think of is that I’d be able to contribute to a Roth IRA in a US investment accountZ
Any help would be appreciated! I also plan to do my own research to make informed decisions but hoping to get some alternative perspectives and experiences.
I’m a US expat in my 20s living in Canada - started my career here. Thus far, I’ve been filing my own taxes using TurboTax and use Foreign Earned Income Exclusion, which covers my earnings.
While I have a good sense about PFICs, FBAR and US-Canada tax treaty, I still sometimes am concerned that I might file incorrectly or am not managing my money in the most tax efficient way.
1) is TurboTax Deluxe sufficient for tax filing as an expat? Should I be considering other options or should I even be going to an expat tax service?
2) should I be filing for a foreign tax credit instead of foreign earned income exclusion? The one benefit I can think of is that I’d be able to contribute to a Roth IRA in a US investment accountZ
Any help would be appreciated! I also plan to do my own research to make informed decisions but hoping to get some alternative perspectives and experiences.