Susan Turcotte

CPA

Expertise:

Entity taxation
Corporate tax strategies
Deduction optimization

Education:

Bachelors in Accounting, Bryant College in Smithfield RI
Masters in taxation, Bryant College in Smithfield RI

Susan Turcotte, a seasoned Certified Public Accountant (CPA), has more than 45 years of extensive accounting experience. Susan has come a long way in the accounting field and brings a combination of dedication, experience, and humor to her long career. Born and raised in Smithfield, Rhode Island, she laid the groundwork for her illustrious career at Bryant College, where she earned a Bachelor's degree in Accounting, followed by a Master's degree in Taxation.

Susan's career path is as diverse as it is impressive. She has navigated various sectors of the accounting world, including public accounting with several firms and private industry, where she excelled as a controller for several companies. Along with her entrepreneurial endeavors, Susan's passion for accounting never waned as she continued to practice tax work on a part-time basis.

In 2014, Susan began her association with TFX, initially on a part-time basis. Her role quickly evolved into a full-time commitment in 2015, a testament to her adaptability and unwavering dedication to her profession.

Susan's career is a testament to her resilience, adaptability and dedication to the field of accounting. Her extensive experience, coupled with her hands-on involvement in both the corporate and entrepreneurial aspects of accounting, positions her as a respected figure in her field. As she continues her work at TFX, Susan's legacy will be not only in the numbers she crunches but also in the countless individuals and companies she has guided through the complex world of finance.

Articles

Form 5471 Schedule E: Reporting foreign income taxes and claiming the deemed-paid credit

Form 5471 Schedule E reports the foreign income taxes a controlled foreign corporation paid or accrued during its tax year. The US shareholder uses this data to claim a deemed-paid foreign tax credit under IRC Section 960, reducing double taxation. ...

Guam tax: Complete guide for US citizens and expats (2026)

Quick answer: Guam operates a mirror tax system – the territory applies the US Internal Revenue Code with “Guam” substituted for “United States.” Bona fide residents file with the Guam Department of Revenue and Taxation, not the IRS. Guam imposes a Gross Receip...

Subpart F income vs GILTI: Key differences every US shareholder must know in 2026

Both Subpart F and GILTI force US shareholders of controlled foreign corporations to recognize CFC income currently – even if the CFC has not distributed any cash. Subpart F income vs GILTI is a distinction every CFC owner needs to understand, because the two regimes target different types of income, apply different tax ra...

CGT on gift of property: Capital gains tax on gifted property explained for US expats (2026)

When you receive gifted property, the IRS generally assigns you the donor's original adjusted basis under Section 1015 – not the fair market value at the time of the gift. If you later sell that property for more than the carryover basis, you owe ...

Section 988 gain or loss on foreign currency property: 2026 tax guide

Under IRC Section 988, gains and losses arising from fluctuations in exchange rates on nonfunctional currency transactions are generally treated as ordinary income or loss – not capital gain – which can significantly affect your US tax bill. If you hold a foreign mortgage, maintain a bank account in local cu...

International money transfer tax: US regulations, IRS reporting limits and compliance guide (2026)

Most international wire transfers are not taxed as income. The transfer itself – moving your own money from one account to another – does not create an income tax liability, but a new 1% federal excise tax applies to certain cash-funded remittance transfers starting in 2026. What triggers IRS attention is the nature of the f...