Need some advise for filing US taxes

Hi,


I moved to Hong Kong last yr and need to file my US taxes? Does someone have any recommendation, besides using online software like TurboTax? If someone has used any CPA service in Hong Kong (preferably in Central area) who can help file US taxes and found it good, please let me know.


Thanks.

If you are going to pay Central prices, you may as well see one of the big accounting firms, after rent and barriers to entry, there is not going to be to much to save, seeing a CPA not associated with a brand. All of them will have US tax practices geared towards US expats.


If you are savvy though and willing to do a bit of research, you can find companies in India who will do the work and charge you 1/10 th of the price as an address in the Landmark or Princes Building would charge you. In fact a lot of work is outsourced by the big four already aside from their captive Indian units.


But basically if you hunted you could probably find someone willing to do what needs to be done, with a lot of experience and for penny's on the dollar compared to what you would pay for an accountant at a marquee Hong Kong address.


In fact going forward its just sensible to sort out regardless

I use KPMG but only because my wife's company pays for it. They will create a very thick tax return (state return(s) too) but it's surely pricey. They don't give personal service, though. They just use software to pump out returns like a factory without really working to save you taxes. After reviewing my returns from them I found either errors or methods that saved me an additional $5,000.


Come next year when I won't get it for free anymore I probably will do my taxes myself (I always did it myself before coming to HK) with H&R Block TaxCut. Here's a list of tax consultants from the US Consulate:

http://hongkong.usconsulate.gov/acs_ustaxconsultants.html

That sounds like terrible value for money. Cant believe a firm like that would not find that kind of savings in a return.

My personal experience: the first 4 years in HK, I did it myself using TurboTax. The first time took me 2 days. after that it was about one afternoon's work.

2 years ago, my new employer paid for Deloitte, 8 weeks and one extension later, things were still not right. I gave up, did it myself, took about 4 hours, a fraction amount of the time I spent on the phone with the Deloitte girl.

last year I did it myself.

If you are reasonably organized, especially if you work in the financial industry, unless you have a very complicated tax case, the best course of action is to do it yourself. It is not hard. Just 2 extra forms compare to your regular US tax filing . (3 for the first year, with the foreign relocation expense deduction.)

If your case is very complicated, and you regularly use an account when you were back home, I suggest you use your old accounts back home. It is much easier for them to figure out how to do the foreign earned income exclusion, then it is for the HK based junior associate to figure how to do US taxes. (quite possibly for the first time.)

Thanks a lot everyone. Going by everyone's experience, it looks like I should do the taxes myself.