If you are reading this, then you’re about to become more informed than virtually everyone in need of expat or international tax services.
The expat and international tax community has a dark secret and many of the largest tax preparation companies are hiding it from you.
We think you deserve the truth… so, here it is.
Search around and you’ll see offers of $485 for an expat tax return. Sounds amazing…right?
Nope – that’s downright scary.
Consider this – have you ever cheaped-out on a computer, phone, TV, or car? At some point, we all have. But the cheapest products always disappoint.
Would you ever search for the cheapest doctor? What about the cheapest dentist?
Of course not. When it comes to your health, going cheap is not worth the risk.
This reasoning should be extended to your tax return. The phrase “you get what you pay for” was invented for expat tax preparation services.
Going cheap with your tax preparer is worse than you think.
After you go on some expat tax preparer’s website and fill out some basic information, your “tax profile” gets posted to an internal job board where independent contractors of varying skill level, education, licensure, and experience bid on your tax return.
Take a wild guess who wins the bid.
Yep, the cheapest.
The cheapest bidding independent contractor increases the profits for the company charging your $485.
Expat tax prep firms are the worst offenders of this practice.
Go cheap with your expat tax return and some person you’ve never talked to will do 99.9% of the work. They’ll submit the return to the company you found online and a “senior partner” will give it his attention for fifteen minutes – if you’re lucky – and sign it.
Customers believe that a senior partner has spent hours and hours pouring over the details and investigating everything. Sadly, this just isn’t true.
The Esquire Group has welcomed many clients fleeing these high-volume tax prep mills. We find errors on every single return they produce. Seriously – Every. Single. Return.
Here’s the kicker: the IRS holds you personally liable for the information on your tax return. Unless there is fraud or negligence (good luck proving that), you’re going to suffer the consequences of any mistakes or errors.
If you’d never risk your physical health by going cheap with a doctor, then why would you risk your financial health by going cheap with a tax preparer?
The penalties are severe for getting it wrong when it comes to international tax matters. In some instances, you can be penalized up to 50% of the peak value of your accounts or $10,000 a month for neglecting to file a form. Scarier still, if you fail to file certain international forms with your tax return, you are subject to an unlimited statute of limitations – the IRS could come back and audit you decades later.
We created our Concierge Tax Service for people that feel they deserve to be dealt with honestly and professionally.
Here is our promise to you: The Esquire Group will not out-source your tax return to the lowest bidder. In fact, we don’t outsource at all. Our tax preparers are in-house and work for the Esquire Group full-time.