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 [...]
How To Live Tax Free Overseas Finally: Regular Folks Can Now Access The Wealth Building And Protection Strategies Of The Rich And Famous… Millionaires and politicians have known the benefits of building and preserving wealth overseas for centuries. Spurred by greed, necessity, or just plain resourcefulness, international strategies have protected earnings from frivolous lawsuits, onerous [...]
Last week’s Taxation 101 (Where To Live Tax-Free) essay was well received but raised lots of questions from American readers, including many to do with what I’d say is maybe the most misunderstood U.S. tax on individuals—the “Exit Tax” Americans have to pay when they give up their U.S. citizenship. To clarify, this is not […]
Last week, while we were all recovering from Christmas and preparing for New Year’s, the guy in charge of the tax department in Panama got an idea. “I know how to bring in more tax revenue,” this guy seems to have said to himself one morning. “I’ll change the country’s approach to taxation!” And in […]
An important question came up during the Offshore Summit I hosted in Panama City last week. The question was to do with if and how Americans must report non-U.S. real estate holdings to the IRS. Specifically, this is the question: Must an American report foreign real estate he owns on the new Form 8938?
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.