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f5472 and f5471 and other business related forms ---- are they affordable for a new small European business startup or are they out of reach?

How could I start up a European small business with initially low profits if I know that US form paperwork might cost me $20,000 per year? (My envisioned profits before US-accounting-costs for years zero through five would be $10,000 , $20,000, $50,000, $50,000, $50,000).
Would all of my profits be eaten up by f5471 and f5472 accounting costs?
F5472 F5471 US Citizen With European Start Up
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Gary Carter, PhD, MT, CPA
Completing these forms does not require quantum mathematics, but it does require a deep knowledge of the topic, so a practitioner completing one for the first time would ask for a large fee. You would not want to hire that person. You are likely to find someone with the requisite knowledge and experience in a large international firm, but they charge a lot for everything. Finding a knowledgeable practitioner willing to take these forms on (the IRS loves to rifle off $10,000 penalty notices at the slightest misstep) - for a reasonable fee - can be challenging, but not impossible. We are a small boutique firm that specializes in the tax needs of U.S. citizens living outside the United States, as well as foreign nationals. We prepare many Forms 5471 (Information Return of U.S. Persons With Respect to Certain Foreign Corporations), and Forms 5472 (Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade of Business). For a survey of some of the other annoying tax forms you might be required to file as an expat, see our Expat Tax Guide at https://form1040nr.com/expats/. Our fee schedule for these forms is at https://form1040nr.com/ourfees/. Just put the form number into the search box, and the fee will come up. It doesn't need to be prohibitive for a U.S. business owner abroad to be fully compliant with U.S. tax law.
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