New US Residents

TAX HELP FOR NEW U.S. RESIDENTS

Your first U.S. returns done right — including the assets and income you still have in your home country.

Once you become a U.S. tax resident, the IRS taxes your income from everywhere in the world and expects you to report many foreign accounts and assets. Many new residents don’t learn this until a year or two later. At Victoria Bogdanovich CPA, we help people who have recently moved to the U.S. understand their new obligations and get their first returns right.

Who this is for

• New green card holders and H-1B, L-1, and other visa holders who meet the residency tests
• People who moved to Austin for work from another country
• Families who still own bank accounts, investments, pensions, or property abroad
• Anyone who received a gift or inheritance from a family member abroad

Are you a U.S. tax resident?

You’re generally a resident for tax purposes if you hold a green card or meet the substantial presence test: at least 31 days in the U.S. this year, and 183 days over three years using a weighted formula. Your first and last years can be dual-status, part nonresident and part resident.

What we handle

• Residency and first-year choices — including elections that can change your first-year tax
• Income from your home country — salary, rental income, interest, and dividends that still arrive after you move
• Foreign tax credit and tax treaties — avoiding double tax
• FBAR, Form 8938, PFICs (Form 8621) — reporting foreign accounts and funds
• Foreign companies and trusts — Forms 5471, 3520, and 3520-A when they apply
• Gifts and inheritances from abroad — Form 3520 reporting

Common mistakes we see

Not reporting home-country accounts. Accounts you’ve had for years can still need annual U.S. reporting once you’re a resident.

Keeping home-country mutual funds. They’re often PFICs, with complex reporting and a high U.S. tax cost.

Missing the timing of a sale. Selling property or investments before or after you become a resident can change the U.S. tax a lot.

How it works

1. Check your fit — about 1 minute. Answer a few questions and see your starting fee.
2. Create your client portal account and complete our Client Application.
3. Meet with us — free Tax Discovery Zoom meeting. Upload your last two years of returns at least 24 hours before the meeting so we can discuss an estimated fee range on the call.
4. Receive your engagement package with your estimated fee and scope of work. Work begins once you sign.

Starting price

Personal return with foreign accounts or foreign income: starting at $3,500.

Foreign companies, trusts, several countries, and first-year elections are quoted after we review your returns. Your engagement package sets out your estimated fee and what it covers. Work outside that scope is billed separately.

See your starting fee

Frequently asked questions

I moved this year. Do I file as a resident or nonresident?
It depends on your arrival date, visa, and days in the U.S. Many people are dual-status in the first year. We work it out with you.

Do I still pay tax in my home country?
Possibly. The foreign tax credit and tax treaties are designed to prevent double tax, but each country’s rules differ.

Should I plan before I move?
Yes, if you can. Planning before you become a U.S. resident can make a real difference. Book an Initial Consultation.

Ready to see where you fit? Take the 1-minute fit check or see our pricing and how it works.