Owner Accounting Services

The company, established in 2003 in Florida USA, offered a wide range of US tax services. Having lived in Florida for several years, many of our clients were European rental homeowners of Florida property and local US Businesses based in Florida. Client referrals were key to our fast-growing business and excellent reputation.

We prepare U.S. Individual Income Tax Returns for U.S. (or Citizens of Dual Nationality) and Green Card holders living outside the USA. Nonresident aliens who are working in the U.S. or own Property or Investments in the USA are required to make US declarations. The sale of any property or land in the USA by a Non-US Resident will be subject to FIRPTA legislation, whereby the closing Agents must withhold 15% of the selling Price.

We assist in the preparation of Federal US Income Tax Returns for US Citizens, Citizens of Dual Nationality and also Green Card holders i.e. The reciprocal Taxation Treaty between the US and the UK ensures that the same earnings are not taxed twicein the Treaty countries. However, Tax Returns must still be filed in both countries.

The IRS have introduced 2 voluntary disclosure programs which allow the opportunity for US Citizens and Green Card holders living outside the USA to become tax compliant with minimum or possible zero penalty implications. This would be the route for the majority of individuals contacting us.

The IRS streamlined filing compliance procedure provides the opportunity for those who qualify, to enter an IRS sanctioned procedure, which could result in no penalties being assessed.Where taxpayers are not clear whether their omissions are non-wilful there is also the Offshore Voluntary Disclosure Program (OVDP) to as an alternative to the above scheme.

All rental property owners who rent out their property for 14 days or more are required to file US Federal Tax Returns (1040NR's) and in some cases State Tax Returns, regardless of whether they make a profit and regardless of the tax filing requirement in their own country of residence. We do not require receipts or invoices etc. but request copiesof Annual Interest statements, both received and paid.