We’re thrilled to have you join us on this platform where we share insights, offer expert advice, and explore the exciting world of international bank licensing, fintech, and regulatory compliance. Here, you will find a wealth of information spanning various topics, from starting up an international bank to navigating complex tax and business planning strategies. Whether you’re a seasoned player in the financial services sector or an entrepreneur looking to enter this space, our blog aims to be a reliable resource for you. We hope to inspire, educate, and engage you as we delve into the intricate dynamics of the regulated business landscape together. Enjoy the journey, and don’t hesitate to engage with us – we value your questions, comments, and ideas.
How to Avoid Filing Offshore Tax Returns – IRS Form 5471 & FBAR
Any offshore business owned and operated by a US citizen must file IRS Form 5471, an FBAR, and disclose all of its dealings to the US government. Here, you will learn how to legally reduce or eliminate these filing and disclosure obligations. Most importantly, you must file US Treasury Form TD F 90.22.1 (generally referred […]
Can the Government Seize my IRA?
One of the most common questions I get is, “can the government seize my IRA?” With all of the uncertainty in the USA, and the growing hostility towards our government and its practices, many Americans are concerned about their retirement accounts. For most, their retirement account is their only liquid asset, the majority of their […]
Foreign Earned Income Exclusion Basics
The Foreign Earned Income Exclusion is the Expat’s first, and sometimes only, line of defense against the IRS. It allows you to eliminate up to $97,600 in salary from your US taxable income in 2013, and can provide additional benefits to those living, working, and operating a business abroad. Just about every tax article on […]
Eliminate U.S. Tax in 5 Steps with an Offshore Corporation
If you are living and working abroad, you can eliminate US tax on your business income with an offshore corporation.
Changes to the FEIE Physical Presence Test Travel Days
Changes to the FEIE physical presence test travel days have cost taxpayer’s millions of dollars. Watch your FEIE physical presence test travel days very closely!
Trillion dollar coin: Evidence of a failing economic system
Trillion Dollar coin option proof that the USD is worthless.
Payroll Tax Increase Hits Millions of Americans at Home and Abroad
Payroll tax increase hits millions of Americans, including those livng abroad and working for U.S. empoyers.
U.S. Long Term Capital Gains Rate up to 23.8%
The U.S. capital gains rate has gone up to 23.8% for most Americans, including Expats
How to Manage Retained Earnings in an Offshore Corporation
The key to maximizing the tax benefits of being offshore is to generate retained earnings in an offshore corporation.
2013 Retirement Account Limits
2013 Retirement Account Limits have increased.
Weak Dollar Crushing the Foreign Earned Income Exclusion
The value of the FEIE is falling fast, following the US dollar in a tailspin
Tax Traps and Landmines in Your Offshore Corporation
An Offshore Corporation can be a great tax tool, but is fraught with risk for the uninformed
Dealing with the IRS
Let’s say you have filed all of your delinquent returns, and the foreign-earned income exclusion, along with the other suggestions in this book, and did not eliminate your entire U.S. tax bill. Now the IRS is at your door…what should you do? Step One: Know your risks First, you must understand that the IRS can […]
2012 IRS Offshore Compliance Program
Great News for Some ExPats and Dual-Nationals As an ExPat American, you know that you are required to file a U.S. tax return each year and report your foreign bank accounts if you have more than $10,000 offshore. Unless you have been living under a rock in Bangladesh, you also know that the IRS has […]
Offshore Filing Requirements
One of the most misunderstood areas of living, investing or operating a business abroad are the U.S. tax filing and reporting requirements. The purpose of this summary is to review the basic requirements and I recommend that you consult an international tax expert as to how they fit your particular situation. One of the foundations […]
U.S. Tax for Business Owners & Self Employed
This section is an introduction to the benefits of an offshore corporation for U.S. citizens living and working abroad. It is not meant for those living abroad on their pension (retirees) or those with passive investment income. Most Expats know that the U.S. taxes its citizens on their worldwide income and that all U.S. citizens […]
Taxation of Foreign Real Estate Investments
EDITORS NOTE: This article was published in 2010 and has some valuable information. For a more recent and detailed article on this same site, click here. When it comes to investing in property overseas, there is often little difference than if you were investing in U.S. property. Three situations bear investigation: 1. The first […]
Expatriation – The Final Solution
Each month I get one or two inquiries from U.S. citizens who have had enough and want to give up their U.S. citizenship. While it is rare for someone to take such drastic steps, especially after they learn how to manage their U.S. tax obligations while living abroad, it is an important subject. Here are […]
The Rules for Americans Overseas
Foreign Income Must be Reported As an American citizen overseas—regardless of where you live or work—you are generally required to file a U.S. tax return, reporting any income generated abroad, in addition to your earnings on the U.S. side. You are also subject to the same filing requirements that apply to U.S. citizens or residents […]
INTRODUCTION
The biggest challenge facing Americans living and/or working abroad is the United States Internal Revenue Service. The U.S. is one of the few countries that tax its citizens abroad, and the only one that regularly locks up its people up in prison cells for violations of the tax code. The Service’s hostility to foreign tax […]