Why I'm Sometimes OK Paying More Taxes A few years ago, after reading an article I'd written detailing an American's ongoing obligation to file a tax return with the IRS each year even after he's moved overseas, a reader wrote in to correct me. The reader proudly pointed out that an American does not need [...]
What The New Tax Laws Mean For Us Americans Offshore I'd say the United States now has more tax filing deadlines than national holidays. Today, Oct. 15, is another one. Everyone knows April 15. That's the deadline for filing your personal tax return each year. This year this deadline actually fell on April 17, thanks [...]
How To Operate Your Business Tax-Free By Going Offshore The key advantage of going offshore is diversification. The good news is that you have the opportunity to diversify not only your investments in this way, but your life, too—both your personal life and your professional one. That is, in today's world, you can realize many [...]
So You Wanna Live In Europe? People often take Europe off the list of possibilities for where to move or invest overseas because they assume the residency options are too limited or the tax implications too onerous. The truth is that residency can be easier to obtain in some European countries than it is in [...]
How To Reduce Your Tax Burden… Maybe To Zero I’ve been reviewing tax regimes of a couple dozen countries over the last few weeks, trying to help out with the Overseas Retirement Index that sister publication Overseas Living Letter puts out each year. The research has reminded me of two things. First, the United States has the [...]
One thing to consider when buying real estate in another country is to do with the requirements for repatriating your funds if and when you decide to sell the property. Often, transferring money out of a country isn’t as simple as calling your bank and initiating a wire of the funds. Some jurisdictions, including Colombia […]
Last week was the end of the official tax season for Americans. We all got an extra day this year because the IRS’s online system crashed in the 11th hour. Too much traffic in the final hours leading up to the midnight deadline. Seems more and more people wait until the last minute to file.
Trump threw us Americans with businesses overseas a curveball in December. His tax changes eliminated the deferred-tax status for U.S.-controlled foreign corporations. That opportunity to defer U.S. tax made it possible for Americans with small businesses overseas to build their businesses faster. Now what? All my global tax-expert friends and colleagues have spent the past […]
Thanks, Trump Expats were hoping for better from the tax bill that Trump signed back in November. Rumors were bandied about that he might, for example, eliminate the worldwide taxation based on citizenship that we Americans abroad are saddled with. In fact, had he done that (he did not), it would not have made much [...]
When the engagement between Britain’s Prince Harry and actress Meghan Markle was announced a few weeks ago, the press began to speculate about what affects Ms. Markle’s status as an American citizen might have on the royal family once she becomes part of it. Specifically, what about required reporting under FATCA and other IRS rules?