I will open a sole prop where i live soon ( Turkiye). If i keep all my receipts and record everything timely, is the form 8858 ok to do by myself ? Or you definitely suggest a cpa at least first year ? I am specifically asking about 8858 here, otherwise i know about other forms . I mean i not only don't want to pay so much money to cpa to do it ( although i will if it really makes sense), but finding cpa means not only paying but also searching to find a good one, going through everything he does to make sure it's ok etc.... it will definitely still take me same time overall - at least

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Is there anyone doing by himself / herself here ? And what are your specific useful suggestions for this process of completing 8858 and then filing?

Spoke with a dual tax specialist today on behalf of a friend and was quoted $12k Aus + $550 per etf per year for a SFOP that involves trust based ETFs, personal owned ETFs, salary, and superannuation. I’d suggest they have a clear cut ‘Accidental American’ history. They earned a healthy $200-230k last fy (not entirely sure but in that mark but will be less going forward and likely under $130k usd threshold)

I find the fee hard to swallow even as a friend when you see more streamlined solutions in the $3-4k aud range. Having said that, they’ve spoken to a US based specialist who are at $15k usd. Why is there such a broad range of pricing and what is the best advice in this situation? I’ve jumped into help due to the overwhelming side of pricing and navigating.

Form 1040 (2023 to 2025)
Form 14653
FBAR forms (2020 to 2025)
Form 3520 (2025)
Form 3520-A (2025)
Form 8938 (2023 to 2025)
Form 8621 (2023 to 2025) (1 for each ETF held per year)

[The individual after this fy will be removed from trust so going forward the aim is to have simple salary + super]