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 [...]
The Key To Sizing Up Your Tax Burden When Shopping For A New Home Overseas I'm in the United States during election season for the first time in decades. In addition to electing the usual officials in Illinois where I'm staying, the state is holding a referendum to change the state constitution to allow for [...]
The pandemic has investors panicking. Many are concerned because real estate investments they hold aren’t paying out as expected and wanting to sell. Others are worried that they are going to miss out on opportunities being created by those panic sellers because they can’t travel to put boots on the ground so they can scoop […]
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 [...]
Oct. 15 Looms—Here's What You Need To Know To Stay Compliant That is, any American who filed for an extension is now buckling down to prepare his 2018 tax return... myself included. One related topic that has been generating lots of questions for me, both during last week's Retire Overseas Conference in Houston and in my inbox [...]
Everything The American (And Canadian) Needs To Know About Offshore Taxes This month’s issue of my Simon Letter service features my annual review, overview, and update on taxes for the American abroad. The big change affecting us Americans overseas since my report this time last year is the 2017 tax law that now forces U.S.-controlled [...]
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 [...]
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. […]
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 […]
