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Whether you're an expat, a digital nomad, or someone with ties to the US looking to explore opportunities abroad, join us on Passport to Wealth. Here we dive into the...
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Whether you're an expat, a digital nomad, or someone with ties to the US looking to explore opportunities abroad, join us on Passport to Wealth. Here we dive into the nuances of cross-border living as a US citizen living abroad.
We'll be delving into essential topics such as managing your money while living abroad, staying compliant with US tax regulations, and uncovering stories of fellow expats who have forged the path to financial freedom while living abroad.
So, grab your passport and join us on this journey!
show less
We'll be delving into essential topics such as managing your money while living abroad, staying compliant with US tax regulations, and uncovering stories of fellow expats who have forged the path to financial freedom while living abroad.
So, grab your passport and join us on this journey!
Passport to Wealth
Passport to Wealth
26 SEP 2024 · In this episode, Arielle shares her story of how she ended up living in Europe.
She discusses taking a semester off college to backpack across Europe, her itch to escape her comfortable life stateside, and how she ended up living in Switzerland. She dives into the visa she received allowing her to work, how she landed her first job, finding a permanent apartment, and her advice for others looking to take the leap and move abroad.
If you are thinking of moving abroad, it is possible! Take the leap.
18 SEP 2024 · In this episode, we dive into the importance of U.S. expats participating in elections and how their vote can impact tax laws that impact them while living abroad. If you’re living outside the U.S., your vote can influence policies that directly affect your finances as an American abroad.
We’ll guide you through the process of registering to vote from overseas, including how to request absentee ballots, meet state-specific registration deadlines and requirements, and how to cast your vote. Stay informed and ensure your voice is heard, no matter where you live!
Resources:
https://www.fvap.gov/
https://www.votefromabroad.org/
13 SEP 2024 · In this episode, we discuss how to navigate foreign tax policy changes and how they can impact your US tax filing.
We begin with a high-level review of the Foreign Tax Credit (FTC), which we broke down in full in another episode here: https://api.spreaker.com/v2/episodes/60883407/download.mp3.
As an example, we discuss a recent tax policy change in Switzerland which raised the deduction you are eligible to claim for your childcare expenses. While this change reduces your Swiss tax bill, it can lead to an unexpected tax bill when filing your US tax return, as your FTC amount is reduced.
Keeping updated on tax laws is important for everyone, especially expats! We provide some strategies for staying on top of tax law changes.
30 AUG 2024 · In this episode, we discuss itemized deductions and how you can use them to decrease your US tax bill.
We discuss what itemizing your deductions means, what itemized deductions you are eligible to take, how to itemize your deductions, and considerations for expats.
23 AUG 2024 · In this episode, we discuss the standard deduction and how it it used to reduce your taxable income.
We discuss how this deduction works, how it changes on an annual basis, who is eligible to use the deduction, why you should use the deduction, and a brief intro to itemized deductions.
Tune in next week to hear how you can itemize your deductions.
16 AUG 2024 · In this epsiode, Savannah shares her story of how she ended up living in Europe.
She dives into how she formulated a plan to move abroad, the job application process, visa considerations, and how her and Arielle met.
As mentioned in the episode, you can find if your higher education is accepted in Germany here: https://anabin.kmk.org/anabin.html.
9 AUG 2024 · Are you considering leaving the US and moving abroad?
In this episode, we discuss our initial tips and factors you should consider when planning a move abroad. We cover account consolidation, potentially changing brokerages, foreign bank account considerations, foreign pensions, and basic tax considerations.
While not all-encompassing, this episode should start helping you understand the factors you need to consider to plan a successful move.
1 AUG 2024 · As a US expat, there are two main tax benefits available to reduce your US tax balance and avoid double taxation. In this episode, we discuss one of those benefits, the Foreign Tax Credit (FTC).
We will discuss how the foreign tax credit works, the various "buckets" in which different income sources fall, what kind of foreign taxes are eligible to be used, and how it works in combination with the Foreign Earned Income Exclusion (FEIE).
26 JUL 2024 · As a US expat, there are two main tax benefits available to reduce your US tax balance and avoid double taxation. In this episode, we discuss one of those benefits, the Foreign Earned Income Exclusion (FEIE).
We will discuss who qualifies for the exclusion, how much you can exclude, additional exclusion for foreign housing expenses, what income can be excluded, how to claim the exclusion, and how it can impact your eligibility to take other credits.
We will cover the other expat tax benefit, the Foreign Tax Credit (FTC) next week!
12 JUL 2024 · Most foreign countries have pension plans that are offered to employees living and working in that country. These plans are to ensure that residents are saving for and set up for a successful retirement.
However, these plans become increasingly complex for US citizens or those with a US filing requirement, as the tax treatment can differ from the treatment in the resident country.
In this episode, we discuss the basics of these foreign pensions, how they can be treated in the US, and steps you should take to ensure they are properly reported.
Whether you're an expat, a digital nomad, or someone with ties to the US looking to explore opportunities abroad, join us on Passport to Wealth. Here we dive into the...
show more
Whether you're an expat, a digital nomad, or someone with ties to the US looking to explore opportunities abroad, join us on Passport to Wealth. Here we dive into the nuances of cross-border living as a US citizen living abroad.
We'll be delving into essential topics such as managing your money while living abroad, staying compliant with US tax regulations, and uncovering stories of fellow expats who have forged the path to financial freedom while living abroad.
So, grab your passport and join us on this journey!
show less
We'll be delving into essential topics such as managing your money while living abroad, staying compliant with US tax regulations, and uncovering stories of fellow expats who have forged the path to financial freedom while living abroad.
So, grab your passport and join us on this journey!
Information
Author | Savannah Chaffin |
Organization | Savannah Chaffin |
Categories | How To , Investing , Self-Improvement |
Website | - |
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