When Boris Johnson, soon-to-be former British Prime Minister, sold his London home in 2009, he didn’t pay any capital gains tax in the U.K. but was slapped unexpectedly with a U.S. tax bill. Boris is an “accidental American,” a person who has lived outside of the United States for the majority of his life but […]
We Americans have it rough when it comes to taxes. The Big Bad Wolf of the world’s financial arena—the IRS—calls our neck of the woods home. Feared worldwide these days… by banks and financial institutions as well as ordinary citizens from California to Switzerland… the U.S. Internal Revenue Service has become the hunting dog for […]
It’s tax season in most of the world. Filing deadlines vary by country, but, generally speaking, we global taxpayers must make our annual filings between the end of March and the end of April. In the United States, April 15 is the official tax-filing deadline, but, thanks to Emancipation Day (April 16) being a holiday […]
Posted by Kathleen Peddicord In Retirement0 comment
Is Panama 2022 A Buy? Why were Lief and I drawn to Panama in the first place, some 24 years ago? And why have we invested more in this country than anywhere else in the world? It's partly because Panama's is one the greatest economic success stories in the world. Massive Growth Has Been Due [...]
I’m not sure how Ireland ended up the target. This country’s approach to taxation was the reason Kathleen and I moved to the Emerald Isle some 23 years ago. Now that tax position has her under fire… but, again, I can’t figure out why. Ireland imposes corporate tax at a rate of 12.5%. So does […]
What You Must Know This 2021 Tax Season Tax season is in full swing. As I’ve alerted you, Americans have a reprieve this year. Tax Day 2021 has been postponed to May 17. That means you have more time both to file… and also to figure out how to make sure you’re not paying US$1 [...]
What’s This About A U.S. Wealth Tax? It’s that time of year again… It’s tax season. Thankfully, no big changes for U.S. tax filers this year. However, one big potential tax change is being discussed among the Democratic presidential nominees—a wealth tax. Each presidential hopeful suggesting the United States begin taxing its “wealthy” has his [...]
Americans tend to dismiss Europe for offshore lifestyle and investment options, thinking this part of the world is too complicated or too expensive. The truth is that some European countries can be cheaper than destinations that might much sooner come to mind for obtaining residency or investing in real estate. Portugal is one of them. […]
Talk about potentially eliminating the worldwide taxation of U.S. citizens is getting some expats excited. In theory… if the proposed change were approved… that would put U.S. citizens on par with citizens of every other country in the world except Eritrea, the only other country that also taxes citizens on worldwide income no matter where […]
The Last Tax Loopholes: Two Assets The IRS Doesn't Care About... Yet The Assets You Need To Own Before The IRS Starts Taking Them Too! You know that, as an American, wherever in the world you go, Uncle Sam requires you to report on your worldwide income and assets. Most tax loopholes for going offshore were [...]
Offshore Living Letter is a publication of Live and Invest Overseas. Our goal is to provide timely, actionable information on all things offshore, including: how to go offshore, diversifying your portfolio, wealth creation, protecting your assets, and much more.