pk
Level 15
Level 15

Get your taxes done using TurboTax

@VballGirl66  an interesting question.   Clearly I am biased to  taxpayers doing their own taxes  to the extent of their ability or feeling of security.

In this particular case, where H is resident in the US and has ONLY US tax filing requirement and the S has both US and Indian Income and therefore  tax filings for both countries, the options  are :

(a)    (1)   Each  taxpayer files his or her own returns for both the USA and India --  MFS for the tax year 2023 or 2024  i.e., till they are both back in the same country.  This would allow the H to  file as usual and the S would use  accounting firm ( very familiar with  India taxes  but may or may not be familiar with the US taxes ).  Additionally the accounting firm's business connection  is with the Indian entity. 

           (2) This would still leave the  H + S to  reorganize and pick-up the filings again when S returns back to USA -- a formidable effort often .  Everything has to be co-related and copacetic.

 

I say this from experience  , when I was  employed overseas by a US Multinational.  Coopers & Lybrand took care of my US and local/national filings. An additional component was  gross -ups.  It took me two years  of  recreation of their work so that I could take over once their support vanished.  Therefore , I see  this as a major impediment to getting back to your own.  And this case is reasonably simple.

 

(b)   The other option is as I described do all the USA ones  ( which will be carried forward  after S returns to USA  and the basis for ) and let the accountants do the  Indian one ( they are much  familiar with that  ).

 

I have nothing against accountants and/or tax professionals ( I was one for many years ) doing your taxes.  However , I do think given that the  availability of good stable tax software ( accountants also use  very similar products without "step-by-step " feature )  makes it  reasonable for most taxpayers to do their own.  Additionally , in case of a challenge by the IRS, it is the taxpayer whom is on the hook  ( defense by a CPA or  EA or Tax Attorney is extremely expensive ).

 

You asked  and so I responded --   granted this is my opinion only    ( nothing to do TurboTax or any other entity ).

pk

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