If you have unreported offshore bank accounts, the IRS is coming for you … again. U.S. expats are about to find themselves under even more IRS scrutiny because of the 2014 Offshore Voluntary Disclosure Initiative, a new attack on offshore bank accounts. The IRS is starved for cash and they are coming after expats with […]
If you are a U.S. citizen living, working or investing abroad, you need to understand the difference between Offshore Tax Fraud and International Tax Planning. Offshore Tax Fraud is a crime while tax planning is the proper use of the U.S. tax code to minimize your taxes. There are many benefits to going offshore, but […]
I guarantee that Offshore IRA Fees are lower than what you’re paying in the U.S. on a large managed account. Put more succinctly, the cost to manage your large IRA offshore should be less than Fidelity’s “No Fee” IRA or 401(k), less than Prudential’s no and low cost options, and less than any managed account […]
Today I’m taking time out from my offshore beat to warn you about the CTR. An IRS Currency Transaction Report is a form filed by U.S. banks and casinos each time you make a deposit or withdrawal of $10,000 or more. It is filed in secret, without your knowledge, you don’t receive a copy, and […]
Want to know which is the Best Offshore Company Jurisdiction for your business or your assets? Are you considering living, working or investing abroad? Then this offshore company guide is a must read. Please note that, when I refer to the Best Offshore Company Jurisdiction, I mean the best jurisdiction for your offshore structure. An […]
The Mini Offshore Captive Insurance Company (sometimes referred to as a pure offshore captive) is a powerful and unique way to cut both your business and estate taxes while moving your assets out of the reach of future business and personal creditors. If you are operating a business with $500,000 to $1.2m per year in […]
Are you ready to retire with a large offshore IRA? Consider an offshore IRA Roth conversion. You have Romney sized IRA issues? This article will show you how to deal with your offshore IRA without getting crushed by the new higher tax rates with an Offshore IRA Roth Conversion. Real Estate: For details on how […]
Are you considering forming a cheap offshore company? Has some scammer in Nevis promised you tax freedom and privacy? Forming a cheap offshore company that does not include U.S. tax compliance is a roadmap to disaster for the American living, working or investing abroad. How much would you be looking at in penalties for using […]
So, you’ve diversified your retirement account and invested in real estate in an offshore IRA. . .great. Now you need to take a distribution, what should you do? In this article, I will describe how to distribute real estate in an offshore IRA. Rental real estate in an offshore IRA is one of the highest returning […]
Are you paying Unrelated Business Income Tax in your IRA? Want to eliminate UBIT in your IRA? Is your retirement account invested in U.S. mutual funds or hedge funds? Are you thinking of taking control of your retirement account with an offshore IRA LLC and are concerned with UBIT? Do you have no idea what […]
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The Cayman Islands is one of the world’s largest and most respected financial centers boasting a wide variety of offshore bank accounts and wealth management options. In this article, I will explain how to open an offshore bank account in Cayman Islands. If you are looking for the best in wealth management, tax planning, and […]
When you first move offshore, you will need to know how to prorate the foreign earned income exclusion. This is because, you will be using the physical presence test in your first year and, presumably, won’t move abroad on January 1, so you will need to prorate the foreign earned income exclusion. Let me take […]
For those of you living and working abroad, or investing outside of the United States, the fact that you file one or more of the offshore company forms and report a foreign bank account on the FBAR will have little to no effect on your chances of an audit. The IRS is focused like a […]
If you are living and working abroad, you still need to worry about the IRS. In this article, I will talk about how to avoid an IRS audit with a focus on Expats. Are you worried that the IRS will come knocking on your door? Want to know how to avoid an IRS audit? I […]
Good news for those American’s living and working abroad. The Foreign Earned Income Exclusion in 2014 has been increased to $99,200. This means that you can exclude up to $99,200 in salary for 2014 on Federal income tax return if you are a resident of another country or are abroad for 330 out of 365 […]
Because of the IRS automatic extension for Expats, today, April 16, is the first day of the Expat tax filing season. While those of us stuck in the U.S.A. must file and pay by April 15, Expats get an automatic two month extension. This two month automatic extension for Expats is more valuable than the standard […]
Which is better, an offshore corporation or offshore LLC? Does an offshore corporation provide more protection than an offshore LLC? What are the benefits of an offshore LLC compared to the benefits of an offshore corporation? These are the questions I get every day, and the answer is not as simple as you might think. […]
Want to open an offshore bank account? Here is our guide on how to open an offshore bank account quickly and easily. Do you want to know how to open an offshore bank account? Are you thinking about moving some of your assets out of the United States? Want to protect yourself from issues within the […]
As you, the American with investments abroad, get ready to prepare your 2014 tax return, there are important new FBAR filing requirements for 2014. Some of these FBAR filing requirements are cosmetic and others could get the misinformed in hot water. Note: If you have no idea what an FBAR is, you might check out […]