Tuesdays with Morey - Tax Tips®

During this episode, Morey and Macarena stress the importance of having a reliable, professional, and knowledgeable team on your side. Buying international real estate and traversing a foreign country's tax code can be daunting. The right team you can give you peace of mind when making offshore decisions.   If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Ask Morey for a free consultation. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways:   [1:14] There is no double taxation in any country. [4:27] Mexican laws are following the trends in the U.S. [5:28] January 2018 could bring big changes for travelers who haven't filed U.S. tax returns. [7:21] Morey cites an article about foreign bank accounts. [9:01] Foreign taxes can offset U.S. taxes. [13:13] You need a great Realtor® to protect your interests in international property sales. [18:03] Macarena has a professional eye and can help with value-based purchases. [20:54] Morey and Macarena have a network of professionals to help with all types of financial issues.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

During this episode, Morey and Macarena talk about the importance of having an international real estate agent on your side when considering a move offshore and planning your tax strategy before you go. Together Macarena and Morey have helped clients find their dream homes without any surprises lurking around the corner.   If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Ask Morey for a free consultation. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways:   [:49] Living in Belize has great tax benefits but taxes cannot be avoided. [4:04] Purchasing an offshore property should be done through a certified broker. [8:55] New clients get a free three-year tax review. [10:45] Be sure you plan your tax strategy before making a big investment. [15:08] Glazer Financial can help with the taxes and Macarena helps with the real estate. [16:56] A few of the many factors that go into buying international real estate.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty  

During this episode, Morey and Macarena talk about the importance of having a good relationship with the IRS, especially if you have offshore investments or bank accounts. Doing business or making investments overseas can trip you up, if you don’t have the right financial planners working in your best interest. Be sure to err on the side of caution and properly vet the financial company in which you put your trust.   If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Ask Morey for a free consultation. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways:   [1:11] A good relationship with the IRS is worth its weight in gold. [4:37] The FBAR, Form 114 is used to report foreign bank accounts. [5:48] Special agents with the IRS and the Department of Justice are involved with tax collection. [7:39] Beware of investing in foreign projects that seem too good to be true. [9:24] Form 8938 tells the IRS about your foreign investments. [13:32] Offshore financial planners should be vetted properly. [15:16] Tax planning and proper reporting of mileage are essential under this administration.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey and Macarena dish up another exciting episode of Tax Tip Tuesday this week. Morey shares the necessary requirements for reporting your income and tax liabilities to the IRS, should you invest in overseas properties, and Macarena describes the benefits of having a person you can trust on your side.   If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Ask Morey for a free consultation. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [1:12] With a new tax bill on the horizon, it’s time to think about tax alternatives. [3:04] An FBAR must be filed if you have over 10K in a bank account. [6:54] Due diligence pays off! [8:01] Morey’s client has a healthcare issue that may not be addressed by the new tax law. [10:04] Let’s do away with Obamacare and go back to the free market system. [12:40] Offshore investing and financing can be a dangerous game if you don't trust your partners. [15:39] Just because you are in a foreign country doesn't mean there are no laws, no taxes and no important paperwork. [17:50] Be wary of people who will not give you a referral.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey and Macarena warn expatriates of the dangers of people wanting to help you with your offshore business. Some people have a friendly face but bad intentions. Or, some just don’t know the U.S. tax code and will tell you what you want to hear just to get your hard earned cash. Key Takeaways: [:50] It’s important to stay in contact with your financial planner, especially with all the new changes to the health care changes. [3:24] Expatriates need to be aware of the IRS forms required to avoid being audited. [6:51] Do you have confidence in the people you are doing business with? [8:54] Glazer Financial is a small, trustworthy, international accounting firm. [13:35] Pay your taxes based on your 2016 tax bill. Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey and Macarena carve time out of their busy schedule to make sure you know how to keep up with your U.S. taxes when you move overseas, and what you are up against when you realize you haven’t filed in years. This week’s conversation details the deadline for filing the FBAR, how the rules change when the property you are buying is offshore, and recent tax changes. If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty. Key Takeaways: [1:06] How should people plan for the tax year 2017? [3:04] We are in uncertain times politically and fiscally. [4:21] The latest bill passed by the House may include a tax implication. [6:53] Just because you live overseas doesn’t mean you aren’t responsible for your U.S. taxes. [8:51] Buying and selling properties overseas is different than in the U.S. [11:44] Glazer Financial has qualified staff members to help you plan. [12:14] Is it too late to file an FBAR for 2017? [14:56] Penalties and interest on back taxes can accrue annually. [17:03] The IRS and the Justice Department can be involved with tax problems. Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Many people don’t think ahead. They are putting their financial futures and the financial futures of their families at risk. During this episode, Morey stresses the importance of planning. He also shares his political views and says it doesn’t matter if you are a Republican or Democrat; the key is to work together to get stuff done. If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [1:09] Why do we get emotionally involved in the wrong political places? [2:34] Obamacare doesn’t fit the needs of growing businesses. [5:20] Why it doesn’t matter if you are a Democrat or Republican. [6:43] Everybody deserves a better education. [8:16] The new tax bill will include 3 different tax rates. [10:38] Morey believes deeply in charitable contributions and planning for those contributions. [13:02] Planning is very important. [14:48] The key is that if you had more money you could do more. [16:29] Many people don’t think ahead. [17:24] If the new tax bill passes, people will need to plan more.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey shares his thoughts on the possible tax cut for small businesses in the U.S. He says people should be excited about the extra cash they will have to make the lives of others better. In addition to the tax cuts, Morey would also like to see Obamacare repealed so his workers will be able to use their insurance again. If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [1:34] Macarena is a Realtor® in Florida and Belize but she can sell property anywhere. [2:35] Get excited about the business tax rate dropping to 15%. [4:41] Changing Obamacare rules will lower the deductible for most workers. [7:48] People need to improve their lifestyle. [9:50] Analyzing our spendable income? [11:23] Don't wait to plan for your financial future. [13:55] There are Americans who live offshore who need help. [15:42] Glazer Financial is a family-owned business [18:11] Stop considering who the politicians are and change your own life.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey shares his thoughts on what Trump’s tax bill will mean for the economy in the United States. Morey believes more money in a worker’s pocket will eventually trickle down to charitable donations and an increase in consumer spending. He would also like to see the adoption process out of the hands of the government. If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [:59] Trump, the new tax bill and Obamacare. [5:26] Morey remembers a charitable donation to a woman in Mexico. [9:12] Health Savings Accounts, or HSAs, can give a decent tax deduction. [10:57] Morey believes Obamacare needs to be repealed. [12:03] Higher income people will get a 10% tax reduction. [13:50] Government controlled adoptions are not in the best interest of the children. [18:24] Changes are coming soon to the U.S. tax code.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey and Macarena inspect the proposed tax changes for 2017. Morey believes changing the tax requirements associated with the Obamacare health care plan will benefit businesses and individuals the most. And, if you have been using the same tax preparer for many years, it may behoove you to ask them about their compliancy status, and how they keep up on current tax changes which could affect you and your family. If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [1:07] The FBAR is how you report your foreign bank account to the IRS. [3:41] A client of Morey's had to sell their foreign assets to pay a penalty from the IRS. [5:00] Get an estimate of what your future taxes could be with a free 3-year tax review from Glazer Financial. [7:12] Unreimbursed business expenses can signal an automatic audit. [9:05] Protecting clients is the main goal of Morey and his team at Glazer Financial. [11:02] What's new in taxes for 2017? [14:16] You need to plan ahead so you don't end up paying penalties. [15:18] Don't lose your passport for not paying your taxes. [17:23] Make sure you are familiar with the person doing your taxes.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey shares an example of a client who had already had his taxes prepared by an accountant, and then came to Glazer Financial. Morey and his group of Senior Accountants were able to identify many missed deductibles and inconsistencies on the client’s return. If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [1:01] The FBAR has new rules and it must be attached to your 1040. [2:08] Who's doing your tax return? [6:04] The IRS is looking for variations in your taxes from one year to the next. [6:52] Payroll taxes are a vital part of an employer's tax return. [7:27] Glazer Financial's free 3-year review uncovered deductions for a client who had already gone to an accountant. [11:43] You have to be careful about referrals from parties who may only be interested in a referral fee. [15:01] The 3-stage review includes senior level accountants looking at your tax returns. [17:00] The IRS is a much more efficient organization today than it was in the past. [18:41] You need to plan to plan.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey and Macarena are back this week with information about the current tax reform in the U.S. The tax cuts are designed to get unemployment numbers down, and more people working. Morey describes the tax bill and the healthcare bill as having close ties, which is causing the delay in Congress passing both. Morey also cautions business owners and the self-employed when increasing their business expense deductions. Remember, you increase the chance of an IRS audit when you increase your deductions. If you live offshore and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [1:20] Taxes have been put on hold so the healthcare bill can be the president’s primary focus. [3:56] Morey would like to see the new tax bill passed, because it will create more jobs. [6:36] Larger corporations look to foreign countries to fill IT positions. [7:54] China is looking to Central America for new business growth. [9:01] Educating the children will help the overall economy. [10:41] There are companies moving their profits offshore to pay less tax. [11:50] The overlooked deductions for the self-employed. [14:00] Read how to increase your chance of an IRS audit articles. [16:47] Documentation is everything. [18:47] Tax season office expenses are tax deductible. [19:46] Young people who don’t have insurance apply for Medicaid. [22:26] Be vigilant about having documentation for your entertainment expenses.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty

Morey and Macarena are back this week with information you cannot afford to ignore, especially if you have offshore assets. The Department of Treasury has access to foreign accounts, and it is the law all U.S. citizens file annual tax returns. Even if you don’t have an income, you are required to file. You may incur penalties, additional taxes, or even legal fees, if the IRS determines you have defrauded the system. If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.   Key Takeaways: [1:02] Is your passport at risk because of an outstanding tax bill? [4:25] The U.S. government has access to most international banks. [5:14] If you don’t file your taxes, the IRS considers it fraud. [5:58] In Mexico, taxes are collected monthly on foreign corporations. [8:11] The 8938 and the FBAR are required tax forms. [10:00] Knowledgeable professionals are your best course of action for staying compliant. [11:04] The legal cost to defend yourself against the IRS may be more than the tax due. [12:34] There is value in reputable, reliable financial planning. [15:56] What can happen if you lose all of your tax and income records? [18:15] Morey has had direct contact with the IRS to repair tax issues.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty  

Morey and Macarena stress the importance of having a quality financial professional on your side. Many tax preparers and accountants fail to notify clients of changes in due dates for tax forms, and they miss important deductions that can save you money! If you live offshore and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose at Rainforest Realty.   Key Takeaways: [:50] Morey shares important resources for more information. [2:06] Financial planning is very important to ensure expats meet tax filing deadlines. [4:15] What to do if you are unprepared to file corporate taxes by March 15, 2017. [6:02] C-Corps are extended for an additional month and personal returns remain due on April 15. [7:42] U.S. citizens must pay income taxes on worldwide income, no matter where they live. [9:15] Interest and penalties can be more than the tax due if citizens don’t meet tax deadlines. [10:10] The FBAR or Form 114 and Form 8938 are required filings for expatriates. [12:12] Offshore assets are not always tax-free for U.S. citizens. [13:43] Hiding gold in your house is not the best way to secure your assets. [14:35] What is the most overlooked tax deduction?   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 972-385-0007 MacarenaRose.com Rainforest Realty  

Morey shares crucial details about the changes in due dates for IRS forms 8938 and the FBAR. Expatriates with offshore bank accounts, corporations, or income are required to file forms which disclose international assets. Many banks in foreign countries are denying bank accounts to U.S. citizens because of the reporting required by the U.S. Government. Have you been affected by recent changes? Find out by contacting Glazer Financial.   Key Takeaways: [1:09] Many expatriates don’t believe they have to file U.S. taxes, but they do. [4:35] Do you know what forms to file and when the forms are due? [5:10] The new administration doesn’t know what changes President Trump will make. [5:36] The due dates have changed on the forms, K-1 and 1099. [6:23] The FBAR must be e-filed with your personal tax return. [7:21] FBAR requirements and due date. [9:36] Form 8938 is filed if you have an active corporation or investments. [11:19] Details of foreign income requirements for the IRS. [14:35] How do immigrants in the U.S. handle taxes?   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 MacarenaRose.com Rainforest Realty

In this episode, Morey and Macarena tell us why it is important to file an annual U.S. tax return, no matter which country you live or work in. Also, Morey shares information on the FBAR, the 5471 tax form, eligibility requirements for the Foreign Earned Income Exchange Credit, Insurance Wrappers, and international real estate. Make sure you have an educated, up-to-date, professional on your side when it comes to your money. Call Morey at Glazer Financial for more information.   Key Takeaways: [1:40] With a new president and new Congress, no one knows what will happen to the tax code. [3:16] Morey has to re-do a seminar due to the new tax code changes. [3:45] The 5471 International Corporation Form, and how it affects U.S. tax filings. [6:17] If you have a foreign bank account you must file the FBAR form. [7:57] Commonly missed tax deductions on foreign expenses. [9:24] Morey has advice for you if you have an internet sales business. [10:49] How to handle offshore investments during your divorce. [11:48] Self-insured insurance policies (wrappers) are now targets of IRS audits. [13:34] You should consider your taxes as important as an annual health checkup. [15:00] International travel can be suspended if you don’t file U.S. taxes. [17:07] Every country collects taxes, so you need to know what the rules are.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com 469-358-2818 MacarenaRose.com Rainforest Realty  

In this episode, Morey tells us what he believes is happening in the current tax landscape. He believes middle-income families will take the brunt of the taxes while low-income and high-income families will get some tax relief. Where will that leave you and your retirement plans? If you have been with Glazer Financial for some time, you will be prepared to weather any storm, even if it is in Belize.   Key Takeaways: [:53] Rental properties in Belize can increase retirement income. [3:35] Glazer Financial offers the best client support. [6:28] Middle-income families will be paying higher taxes in the future. [7:25] Morey’s children are all hard-working people. [11:06] Planning is more than just doing annual taxes. [12:16] President Trump is an inspiration to Morey. [13:06] Reducing personal and corporate taxes. [16:11] Lifestyle planning seminars to help clients find properties. [19:20] A look forward to next week’s show.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

In this episode, Morey talks about the big changes coming down the pike in both tax deadlines and health care coverages. Morey lists the myriad ways Glazer Financial can help individuals and businesses plan to keep costs and taxes down in 2017. Morey’s organization is capable, and prepared to help you with your complicated, international tax requirements.   Key Takeaways: [:53] New tax changes happen often, so you need a professional who keeps current. [2:15] When Obamacare is replaced, will a Health Savings Account be right for your business? [6:05] LLC, C-corp or S-corp, which is right for your business? [8:13] Glazer Financial prepares tax returns, but also considers the ways you can save in the future. [8:55] Morey is willing to fight the IRS and attorneys, if it’s in your best interest. [11:23] You have options in life and in tax planning. [12:12] Flow through income participants have a new tax deadline. [13:09] FBAR reporting deadlines have also changed. [14:17] Should Trump work within the states on Medicaid coverages instead of changing Obamacare? [17:37] You should get a free tax consultation from Glazer Financial as early in 2017 as possible. [19:00] 401K’s can help reduce employee cost.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

In this episode, hosts Morey and Macarena discuss the importance of organizing your tax documents, and figuring out which deadline your taxes are due on. Morey shares an example of how he saved a client $200,000 in taxes, simply by rewriting a contract. Only experienced financial planners are able to see through the tax code and get to the possibilities. Take the advice of the Tuesdays with Morey Tax Team and start your planning today!   Key Takeaways: [1:07] Getting your tax documents organized for 2016. [1:45] 110% of last year’s taxes are due to avoid penalties. [2:50] You should have bought big items and paid bonuses by December 31st. [4:02] Buying stock has no depreciation value. [5:18] Looking ahead and planning for 2017. [6:44] You tax accountant or lawyer should be replaced if they don’t have the right knowledge. [9:40] Morey spends his weekends working on client accounts. [11:28] Investors in vacation properties should look more closely at the piece parts of their buildings. [12:22] An example of someone building a furniture store in Costa Rica. [12:50] H&R Block has some unseasoned employees. [14:29] Financial planning is essential to the growth of your business. [15:55] Many people don’t understand how much help they really need. [17:01] Be cautious when doing business with your friends. [18:15] 50% of tax returns Morey reviews could be adjusted to save the taxpayer money. [20:18] Did you know you can use your retirement money to buy an investment property?   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty  

In this episode, Morey and Macarena share important end-of-the-year tax tips. Morey recommends buying as many business supplies as possible before the end of 2016, to get the maximum depreciation benefits. And, he suggests that even if you have a CPA doing your taxes, you need to make sure they keep your taxes up-to-date, including all of your foreign accounts. Because bad advice from an uneducated accountant, can cost you thousands in penalties.   Key Takeaways: [1:04] Planning for the upcoming 2017 tax changes is important. [1:53] Why you should finish up 2016 with a shopping spree. [3:29] It’s all about reducing taxes for 2016 and in 2017. [4:25] Changing your corporate structure is an option if taxes are reduced in 2017. [5:05] Congress is a slow moving vehicle. [6:07] A real life example of a doctor’s tax return. [7:10] People are not filling out their Foreign Bank Account information tax documents. [8:08] A client finally got caught up on back taxes and paid a 27.5% tax penalty. [12:02] People think when they have a CPA prepare their returns, they no longer need to pay attention to their taxes. [12:56] The biggest changes in 2017 will be the tax deductions and write-offs. [14:06] Retirement plans can create additional deductions. [15:43] What if the new Republican administration can’t get a tax bill passed? [17:12] The government is planning for the future, and you should be too. [18:22] Glazer Financial can help you with your “what if” tax scenarios.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty  

In this episode, Morey and Macarena share important end-of-the-year tax tips for expatriates and soon-to-be expatriates. There is also important year-end tax advice for small business owners, regarding the purchase of office equipment and supplies. Get important tax strategies from experienced lifestyle planners.   Key Takeaways: [:51] Many important financial decisions need to be made before December 31, 2016. [2:04] No one knows what tax changes will take place under the Trump administration. [2:24] If taxes are cut, the savings can be used for advertising and personal care products. [3:57] Politicians are all the same, and Morey doesn’t approve. [5:37] Go buy office equipment, furniture, and supplies, before the end of 2016. [7:21] No one knows what 2017 tax laws and rates will be. [7:49] Deferring income should be done on January 1st, instead of December 31st. [8:48] An experienced tax professional should be consulted. [10:14] Americans living in Belize are unaware they had to file a tax return. [11:41] Penalties for not filing tax returns can be huge. [13:12] You have to be working, to get the $100k exclusion.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty  

In this episode, Morey and Macarena share with their listeners the most important questions to ask before picking up and moving offshore. Most people wait until after they have sold everything in the U.S., and are sitting on the beach in a foreign country, to consider the tax implications of their move. Morey Glazer has been doing foreign taxes for 50 years and, is an expert in Belizean tax laws, with over 10 years’ experience.   Key Takeaways: [:59] Important questions to consider if you are ready to move to Belize.   [2:15] An example of a client who moved to Costa Rica, and improved his business through planning. [2:55] Check the tax laws in the country you plan to move to, before making your decision. [3:57] Morey has been handling finances and tax implications in Belize for 10 years. [4:26] Send your questions to Morey and Macarena, on the Tuesdays with Morey Facebook page, and they will answer them during the next podcast!   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

In this episode, Morey and Macarena discuss using international real estate rental income as a deduction on your U.S. taxes. There are many ways your portfolio can be enhanced with international properties, but you need to make sure you do it correctly from the beginning. Contact Glazer Financial to find out how you can make the most of your retirement money!   Key Takeaways: [:54] Planning is important when buying international real estate, even rental property. [1:31] If your annual salary is over a certain limit, you are limited in the amount you can deduct for your real estate taxes. [2:00] Net rental income should be your end goal. [2:29] Foreign assets get you the same tax benefits as if you bought the property in the US. [3:00] If you have a loss of $10,000.00 you can write it off. [3:45] Use an income tax return to project how your international real estate purchase will affect your US income tax. [4:08] How to use net rental income on your taxes even if you have a net rental loss. [5:00] If the Chinese build a canal in Nicaragua, the property value will rise. [5:39] You must plan to plan!   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

In this episode, Morey and Macarena attempt to warn listeners of the potential pitfalls of dealing with professionals who don’t stay up to date on current tax laws. If you are thinking about moving offshore, you must plan to plan. There are so many different aspects to living in a foreign country, and chances are, the company who is selling real estate at a conference, won’t tell you all of what you need to know. Contact Glazer Financial before you make the big move!   Key Takeaways: [:49] If you are considering moving offshore, you need to make a plan for your financial future. [1:04] People forget to plan for their state and federal obligations, when they move abroad. [1:46] People set up foreign corporations, without the proper planning. [2:22] Clients struggle all the time with not planning before they plan to move. [3:36] You may not pay less tax in a foreign country, because you are still responsible for U.S. taxes. [4:07] People take action based on professional suggestions. [4:43] Professionals may not always give you the best advice based on your personal issue. [6:16] Many people go to a conference, but the information they are given is not legitimate. [7:49] Glazer Financial tells you exactly what they are going to do.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

In this episode, Morey warns us to be aware of the many changes to the U.S. tax code, which may be hidden in large bills passed by the House, such as the Highway Bill, or Obamacare. These massive, 2,200-page documents often affect people who have international interests or real estate. Many accountants are unable to stay current with the changes to the U.S. tax code, and it’s highly unlikely they stay current on international tax codes, as well. Morey and the employees of Glazer Financial, promise to keep up-to-date on all changes in the tax code, so they can help you plan for your financial future.   Key Takeaways: [:57] Often, accountants and tax attorneys aren’t up-to-date with international tax laws. [2:06] The recent highway bill changed many of the due dates for U.S. taxes. [2:33] Obamacare ended up costing us all a lot of money. [3:22] The employees of Glazer Financial keep up-to-date with all the current tax changes. [4:05] Morey failed his advanced taxes exam, because he memorized the entire tax code. [5:38] People who live on foreign soil, but maintain a residence in the U.S., could lose the Foreign Earned Income Credit. [6:26] Planning for your future tax situation will help you to transition to your new country.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

On this episode, Morey and Macarena discuss asset protection, and how easy it is for foreign banks to mislead the unprepared foreign investor. In addition to the copious amounts of tax forms required by the IRS, foreign investors may also be required to show proof of their income, and have foreign investments evaluated. The right tax professional can help you to be ready for the next mandate. Call Glazer Financial for your free initial consultation.   Key Takeaways: [1:08] The government wants to know about all of your offshore assets. [1:47] The U.S. wants to be able to tax a person's entire estate when they pass. [3:02] Foreign investments can be risky. You need to be prepared. [4:46] Government entities have agents dispersed in all areas of life, looking for inconsistencies. [6:01] Many times, when people buy gold they don’t know exactly where it came from. [7:05] Morey knows people who have lost millions of dollars because foreign investment banks are shady.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

On this episode, Morey and Macarena remind us of how important it is to plan to plan. If you, or someone you know, is thinking about moving overseas you must have an honest, experienced tax and lifestyle planning specialist like Morey Glazer, or someone on his team at Glazer Financial. Stay compliant, live a good life and be prepared!   Key Takeaways: [:58] A vacation in a foreign country is much different than buying a piece of property there. [1:52] Every state is different, when it comes to taxes. [3:10] Today’s technology allows people to live anywhere on the globe, and still work. [3:32] Morey is always available to solve clients’ problems. [4:16] Staying compliant with the IRS is of the utmost importance. Do it before you leave the U.S. [4:53] Many countries follow suit, and adopt the same systems as the U.S. [5:35] Lifestyle planning can help you stay on track, no matter where you are from or where you are going. [7:24] Taxes and penalties can be your biggest cost of moving overseas.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty  

Morey and Macarena are together today to share information and to educate expats on how to be responsible with our taxes and to make sure we don’t get a nasty surprise letter from the IRS. Believe it or not, but the IRS does have a game book. It’s important, if you are considering buying international real estate, to know what your tax liabilities are and will be. Plan to plan and be prepared.   Key Takeaways: [:56] How do you know what your tax liabilities will be in a foreign country? [1:52] Expats are required to file U.S. Income Tax returns. [2:07] If you live outside of the U.S. for over 330 days you may qualify for the Foreign Earned Income Credit. [3:00] Even missionaries may be eligible for the Foreign Earned Income Exclusion. [4:11] If you have a grant, trust or foreign corporation, you may have to pay income tax in the U.S. [4:58] Do you know the rules of the Internal Revenue Services gamebook? [5:57] You have to be careful, and be informed, about what taxes you have to pay.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

Morey and Macarena discuss the Foreign Earned Income Credit and how it applies to families living offshore. Big tax savings can be had using the credit, even if you are still working for a U.S. company. Call Glazer Financial to see how their tax professionals can help you prepare for your existing expatriate lifestyle or your upcoming travel plans to live out your retirement in the sun.   Key Takeaways: [:46] The Foreign Earned Income Credit -- Solutions for an expatriate in Turkey. [3:12] Do you work from home in a foreign country but get paid from a U.S. entity? [5:01] Lifestyle planning and tax planning need to be considered before moving offshore. [6:59] Moving offshore often becomes a cost rather than a surplus. [7:47] Just like your life, the tax world changes year after year.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

Morey and Macarena join forces again today to discuss the penalties of not paying your US taxes. They warn that even if you have an accountant or tax preparer it doesn’t mean he or she is versed in how to report international accounts or foreign corporations. Some accountants aren’t even aware of the additional forms required by the IRS when a US citizen has an offshore account. Be prepared and plan your financial future with a team who understands your expat lifestyle. Call Glazer Financial today.   Key Takeaways: [:48] How do you know if you are legally paying all of your US taxes? [1:26] If you have a foreign corporation, you need to file two separate tax forms. [3:19] Morey Glazer is always available to answer your financial and tax related questions. [3:51] The IRS may impose tax penalties in amounts far greater than the original tax. [4:40] In Belize, you need to bring in $2000.00 a month to be a residence. [5:52] If you sell an international company, you should be prepared to pay US taxes on your stock dividends. [6:49] Many accountants don’t review foreign investments or accounts.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

Morey and Macarena stress the importance of tax compliance during today’s podcast. They discuss the little details of offshore accounts and offshore corporations some accountants and lawyers may not deem important. Morey reminds us the IRS is smarter than taxpayers think, and even though you haven’t filed for 5 or 6 years it doesn’t mean they are not aware of your status. They just might be hot on your trail. Morey and his team at Glazer Financial keep up-to-date on all of the changes in tax liabilities and international tax requirements so you don’t have to.   Key Takeaways: [1:40] Introducing Teresa, Glazer Financial’s international expert. [3:45] US citizens must file income taxes every year with the IRS, no matter where they live. [5:37] Annual taxes may apply even if you are only receiving Social Security payments. [7:30] FACTA rules have locked US citizens in. IRS agents have systems in place to look at your return records. [9:11] You must have a plan to get current on your taxes and prepare for your financial future. [9:59] No one knows what the IRS will do in the future to collect taxes. [10:26] Many accountants are not aware of the requirements for offshore corporations or offshore accounts. [12:58] Practice vigilance and be suspect of any account or lawyer who tells you not to worry about filing US tax returns. [15:56] If you haven’t filed your taxes you need to become current before the IRS does. [16:31] IRS news release — A New Focus on Tax Professionals [18:38] Before you set up a foreign trust, check with the IRS to see what tax implications apply. [19:30] Buying real estate through your IRA offers a significant tax deferment. [21:23] Remember — Tax evasion is punishable by law.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

When people are young, they take very little time to consider their financial future. With the help of a certified financial planner, people can make sure they live the life they want today, while preparing for their future needs. Morey and Macarena share best tips and practices for making the most of a retirement savings account including how to purchase international real estate, investment income properties and how to find a lifestyle plan that fits your life.   Key Takeaways: [2:46] Lifestyle planning is thinking about your financial future, so you can live. [5:33] Can you use your IRA to buy real estate? [6:54] The IRS looks unfavorably at people running their businesses from IRA’s. [7:46] What is the proper amount of depreciation a person can take on my SUV? [9:14] Borrowing money from a retirement plan for additional savings on a vehicle. [9:54] Macarena is an expert at offshore real estate. [10:58] Buying real estate from a retirement plan can be a great investment. [14:08] Take care not to become partners with your IRA. It’s unlawful. [16:28] If you partner with your spouse you are able to borrow double the amount from your retirement account. [18:35] Am I able to live in or visit my investment property?  [20:57] Morey offers a free initial consultation.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

Planning for your retirement can be time-consuming and difficult if you are not an expert on the savings plans available. There are 401(k) plans, profit sharing plans, IRAs and others. The trick is to understand the requirements and benefits each plan offers. Some will allow you to borrow money from yourself to buy cars or international real estate. The loan will be with yourself and you pay yourself back the interest and your taxes are lower. In order to realize the benefits of retirement plans, you must sign up by the end of the current tax year which is December 31, 2016. Don’t delay, save money today.   Key Takeaways: [1:17] Planning for your retirement before the end of the year. [2:30] 401(k) profit sharing plans allow for savings up to 25% of annual compensation. [4:15] There are many different savings vehicles to consider when planning for your retirement. [7:19] Combination plans offer diversity for your investments. [9:30] Retirement plan accounts must be open prior to December 31, 2016. [10:10] You can borrow money from your 401(k) account to buy properties. [13:23] It doesn’t matter if you have bad credit because you are giving the loan to yourself. [14:21] Planning can help you avoid paying the highest tax rates. [17:16] Will tax rates be lower in 2017? [18:05] Increasing your net worth is the goal of financial planning. [19:57] Morey is working on an international radio series. [21:00] The stock market has been inflated up to 300%.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty  

On this week’s episode, Morey takes time away from his busy schedule to share the latest updates on changes to the U.S. tax code. He’s joined by Macarena Rose, an international real estate expert located in Belize. At the same time, the team at the Glazer Financial office is busy preparing taxes, making corrections and working with the IRS to maximize savings for clients. The team is able to provide detailed feedback on bankruptcy cases, instances where another tax preparer has made mistakes and even help if you have failed to file your past taxes.   Key Takeaways: [1:44] Morey presents new ways to protect your personal assets. [5:30] People want to do their own taxes but don’t consider how they will handle an audit. [6:47] A tax specialist has the tools most taxpayers aren’t aware of. [8:14] Glazer Financial can review your tax returns and let you know up front what it will cost to complete the tax forms. [13:11] Be sure to enquire on the qualifications of your tax preparer. [16:43] Glazer Financial ensures the accuracy of your returns through several levels of reviews.    [17:22] Bankruptcy cases can be difficult for non-professionals to sift through. [19:04] The IRS hides changes in larger bills but Morey keeps up on the latest changes. [23:05] It’s important for corporations to file their forms by the deadline in October.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com Rainforest Realty

In this episode, Morey and Macarena stress the importance of financial planning and preparing for your retirement. Morey shares a real life example of a 70-year-old family member who was talked into using his IRA to purchase a piece of property. The family member did not consult with Morey until after the deed was done and now wonders if his decision was a good one. Morey and Macarena stress the importance of vetting anyone who wants some of your money, and always contact Glazer Financial before making any financial or tax-related plans.   Key Takeaways: [0:49] Planning to plan is important. Here is an example of someone who didn’t. [4:35] Before investing your retirement plan into real estate, check with your financial advisor! [6:12] Make sure you have a monthly income when you retire. [7:17] Real estate is a gamble just like every other investment. [9:20] It is imperative you file your tax returns even if you don’t owe any tax. [12:57] Glazer Financial examines 2 years of past tax returns at no charge. [13:31] It’s time to do your financial planning for 2016. [16:48] Glazer Financial can also help with retirement planning. [18:33] Online research makes vetting your financial representative easy. [20:20] Contact Morey or Macarena with any questions you may have.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com

In this episode, Morey and Macarena discuss Obamacare, FACTA and the importance of financial planning. Many insurance companies in the U.S. are refusing to foot the bill for the millions of unemployed and impoverished citizens who are currently under Obamacare coverage. They have decided to allow the government to bear the burden by way of increasing taxes. Penalties by the IRS are making this a damned if you do and damned if you don’t vicious cycle. The only way you can be prepared for the upcoming changes is to allow the professionals at Glazer Financial to take the reigns of your financial future.   Key Takeaways: [0:55] Visitors to foreign countries are finding it increasingly difficult to retrieve their money from the U.S. [3:05] Obamacare doesn’t really offer the impoverished proper insurance and it affects income tax. [6:37] The U.S. government will fine business owners who don’t supply health insurance to employees. [8:46] The political parties are considering a single pay system. [11:05] Insurance companies are refusing to supplement Obamacare. [13:31] Insurance companies make a lot of money on products other than healthcare policies. [17:17] Citizens are often powerless against the government machine. [17:38] Changes in the Highway Bill affect tax due dates. [19:28] Financial planning is the only way to keep ahead of the fines and the taxes.   Mentioned in This Episode: Glazer Financial Network Email Macarena: macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert Email Glazer Financial: mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931 469-358-2818 727-565-1507

Tuesday Tax Tips with Morey is back, with Morey and Macarena discussing the possibility of a seminar in Mexico and a series of online seminars designed to help expatriates stay compliant and avoid IRS late fees and penalties. In fact, Glazer Financial has been a leader in reducing expat penalties and even eliminating tax penalties for their clients. Contact Macarena with your international real estate inquiries or contact Morey to assist you in planning for your financial future.   Key Takeaways: [1:18] U.S. tax compliance issues for people moving offshore. [4:16] A client in Hong Kong must show where his money came from - even if it is just a dividend on a savings account. [5:50] Tax due dates have been changed. The changes were hidden in a highway bill. [7:23] There are different individual forms for offshore accounts and assets, including offshore corporations. [8:00] Glazer Financial has been successful in getting rid of penalties or agreeing to a highly reduced amount. [10:27] Some people leave the U.S. and give up their citizenship. [11:32] Will the IRS do away with the Voluntary Disclosure forms? [14:08] Taxes, international real estate and Mexico make a good combination. [16:50] Glazer and Macarena may start a series of educational events. [19:21] How did the IRS hide a 3.8% tax increase in Obamacare?   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931 469-358-2818 727-565-1507

August 14, 2016, has been slated as the official date of our Tax Tips with Morey, conference in Dallas, Texas. This is the place for you to bring your questions about the legal issues, tax requirements and compliance for Morey to answer directly. Many of our listeners have similar issues so what better way than a face-to-face conference to get everything out in the open. Macarena will be flying in from Belize to offer resources on offshore real estate opportunities. Contact us using the information below to secure your spot!   Key Takeaways: [1:03] Morey must pay attention to tax changes because they happen every 30 seconds. [4:04] Free legal, tax and real estate advice at the seminar on August 14th in Dallas. [7:49] There are key things to know about moving offshore so you stay in compliance. [10:03] Bringing a group of people together will help the group as a whole to avoid mistakes. [10:35] You must prove your income annually with the IRS or they can take your passport. [14:19] Morey & Macarena work with many different people, so they are able to inform you what works and what does not work.   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931 469-358-2818 727-565-1507

Morey and Macarena join forces again on this episode to help U.S. citizens stay legal no matter where they reside. Morey warns of fraudulent calls and emails from people falsely claiming to be the IRS, what correspondence from the IRS really looks like and how Glazer Financial can take some of the burden off you at tax time. If you like our podcast you will love our Tax Tips with Morey Live event in Dallas, Texas this August. Listen in to find out more.   Key Takeaways: [1:24] What should people do if the IRS contacts them via telephone or email? [6:09] Possible problems you can run into when dealing with the IRS. [9:25] In order to avoid interruptions in daily life stay current with your taxes. [10:53] Glazer Financial can resolve tax issues so clients do not have to be involved. [13:06] The Financial Disclosure Act is influencing other countries to look more closely at expatriate taxes. [17:44] The August 13th seminar in Dallas, Texas will feature planning advice from Morey.   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931 469-358-2818

Many expats are unaware of the IRS requirement of filling out a Foreign Bank Account Regulation form (FBAR) during tax time. Not understanding the requirement does not make a tax payer immune to the penalties, taxes and interests that commonly follow when the IRS figures out an expat did not file. Proper planning with an accountant who is up-to-date on current tax laws can be an expat’s best defense against large, unnecessary penalties. The savings can be used to purchase additional tax-deferred assets like real estate.      Key Takeaways: [1:11] How serious are the penalties if I fail to file the Foreign Bank Account Regulation (FBAR) document? [3:08] FACTA regulations are making it difficult for expatriates to open bank accounts in foreign countries. [6:20] Buying gold and silver will not make a taxpayer immune to paying the appropriate tax on the value. [7:27] It’s much less to pay $200 to file the FBAR compared to the $10,000 IRS penalty.  [11:12] Morey’s goal is to get everyone the information so tax penalties and interest can be eliminated. [14:57] Long-term employees prove that Glazer Financial will be around for your future. [18:03] There are a lot of tax advantages in buying real estate.   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931 469-358-2818

Morey is back with Macarena to give you all of the up-to-date tax code information and changes. If your accountant doesn’t stay on top of things they could be doing you a disservice, which could eventually come back to haunt you by way of additional taxes and penalties. Any expat who hasn’t filed their taxes or who owns an offshore corporation is at risk. Call Morey or contact Macarena today.   Key Takeaways: [1:10] More and more people who live outside of the U.S. believe they don’t have to file because they don’t make enough money. [3:21] The government may try to impose a tax on foreign corporations or offshore assets. [6:38] It is so important to have an accountant who is up-to-date on the changing tax laws. [10:20] Glazer Financial started with 45 clients and has grown to over 4,000. [12:47] As the U.S. needs more and more money, there will be a system created to catch up with everyone. [14:05] How many people know what their taxes are for 2015, 2016 and what about 2017? [16:14] Do you consider ALL of your deductions and donations at tax time?   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931 469-358-2818

Today Morey and Macarena are both in Belize discussing the importance of planning, tax compliance and moving offshore. Stressing the importance of planning, Morey says that “even successful people make mistakes in dealing with offshore tax compliance. It’s because the rules are changing all the time. The IRS wants every dime they are owed.” If you have moved offshore or are planning a move, the best thing you can do is call or email Morey because his team will take care of the boring details while you live out your dreams!   Key Takeaways: [1:27] Many people move offshore without thinking about their tax compliance.  [4:14] The U.S. Government has access to most of the offshore banks which are popular expat destinations. [7:25] There is a civil penalty of $10,000 for not advising the IRS of a foreign bank account. [8:56] People are very excited to move to a foreign country but they need to make planning a priority. [10:10] Morey is accessible and flexible on the cost of initial consultations because he works for your best interest. [12:50] Even very successful people make tax mistakes when they are dealing with offshore regulations. [15:23] If you have already made the move offshore, Morey can help you to reevaluate your tax situation.   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931 469-358-2818

Today Morey and Macarena discuss the importance of Health Savings Accounts and how they can be used to make necessary daily expenses tax deductible. Morey stresses the importance of planning and how a few precautions now can save you big money in the future should an accident or disaster happen. Morey and his team at Glazer Financial are dedicated to keeping up with the ever-changing tax code and how they can help you, the client, save, save, save.   Key Takeaways: [1:13] Accountants can not keep up with the ever changing-tax landscape driven by the government. [2:37] Everyone should be looking into Health Savings Accounts or HSA’s for tax deductions. [5:16] Consider setting up a Family Limited Partnership to hold all of your assets. [13:36] Planning now allows you to start building your net worth. [17:25] An umbrella insurance policy is essential to keep your assets protected. [19:00] Blog and Contact information for Morey and Macarena   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931

People often visit a foreign country for a quick vacation and then end up falling in love with a piece of real estate. They may feel as if they are doing their research by scouring the internet for information, but without an accountant who can help with tax planning and tax codes they may find themselves in a bind at tax time. Don’t let this happen to you. Let Glazer Financial give you the much-needed expertise you need.   Key Takeaways: [1:27] The tax rate on passive income is going up by 4% and everyone needs to plan for it.    [7:26] Are people required to pay the same taxes if they move offshore? [10:30] If you buy a piece of property in another country, then do everything you can to transfer the money in the United States. [15:58] Does it make sense to incorporate offshore properties? [17:31] Don’t take internet information at face value. Talk to the experts instead.   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com MacarenaRose.com 800-999-8931

If you don’t plan for the tax year ahead, how will you know how much of your earnings to hold back? Whether you are a real estate agent in Belize or a small business owner in the US, the IRS still wants its share. And, the tax code is not easy to understand or keep up with. Today Morey and Macarena discuss the unavoidable 30% withholding tax for sending money offshore, the possible tax problems with partnerships and tax changes regarding depreciation and bonus depreciation percentages.   Key Takeaways: [1:08] Accountants listen up! Morey makes you a job offer in Dallas. [3:13] LLCs are the best type of corporation for protecting your assets but the government is considering penalizing partners for tax liens. [8:29] What happens when you can’t pay your annual tax? Can you file as a different type of corporation? [12:50] When you buy new equipment for your business you can bonus depreciate it at 50% but you should be planning for the next tax year. [15:44] Pre-planning allows you to take deductions for work-related expenses such as your automobile and improvements. [19:56] Can the 30% withholding tax for shipping money overseas be avoided? [22:01] Why is the National Association of Realtors warning people to be careful about emails about mortgage closings?    Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com 972-385-0007

At the end of 2014 and 2015, Congress added and changed tax provisions in budget extension bills. Many of these changes go unnoticed by some preparers, but not by Morey Glazer. He and his team are continually reading and investigating the tax code so his clients don’t have to. They are competent in FACTA requirements, Obamacare and the Foreign Earned Income Credit for those who spend time living and investing offshore or have a vested interest in an offshore corporation.   Key Takeaways: [1:32] What was significant about the extension bill Congress passed on December 15, 2014? [6:24] You may be missing important tax deductions if you are using a filing program such as Turbo Tax. [9:15] FACTA requires you to prove you have paid taxes on any money you move to an offshore account. [11:00] If you make over $250,000, including passive income, you have an additional 2.8% tax based on tax changes included in Obamacare. [14:03] The extender bill added deductions for investments in new equipment.  [16:44] Don’t forget to obtain the proper documentation when making charitable donations!   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com

Many of today’s accountants are not familiar with the tax rules and regulations of owning foreign assets, foreign corporations or foreign bank accounts. Through the Fair and Accurate Credit Transactions Act (FACTA), companies and individuals are required to voluntarily disclose any foreign assets. In addition, if a foreign held account contains more than $10,000, a Schedule B must be prepared at tax time to alert the IRS of its existence. Some people may believe moving money or other assets, like gold and silver, offshore without paying a withholding tax is legal, but it’s not.   Key Takeaways: [1:11] What exactly is FACTA and how does it affect foreign banks? [4:20] US citizens should make their future financial plans while still in the US, before moving to a foreign country. [5:55] Even Swiss banks had to turn over the names of account holders before voluntary disclosure measures were put in place. [7:40] Many accountants don’t know foreign account holders must file a Schedule B, if there is more than $10,000 in an account. [10:08] Morey believes new taxes will be imposed on corporations who move workers offshore. [11:38] Moving gold and silver offshore without paying the 30% withholding tax is called money laundering and it’s illegal. [13:50] Protecting your assets should be your primary financial goal. [16:23] Why it is important to talk to an expert to get the correct information for your personal tax strategy.   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com

This week, Morey and Macarena discuss the importance of doing your due diligence before moving abroad. Careful tax planning can save you thousands of dollars in possible fees and duties. You should research the country you plan to move to with a fine tooth comb. Make sure to find out what type of leadership the country has, what import duties may apply and if your residency status in the country affects your US citizenship.   Key Takeaways: [1:00] When you plan to move offshorem, make sure you know which taxes are due on your savings plans and accounts.  [6:00] John F. Kennedy reduced income taxes while he was in office. [9:03] Is the country you are moving to better than where you are currently living in the US? [13:05] US citizens can travel to many places without a visa. [15:46] Import duties apply in certain countries so know how much you need to pay before shipping your personal goods. [18:51] Glazer Financial has foreign account planners who know which right forms and special programs apply to those who live overseas.   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook Expat Tax Expert mglazer@glazerfinancial.com

When planning for your financial future, you need a planner who is easily accessible and has the required experience to assist you in your unique situation. Macarena, Morey and the entire team at Glazer Financial have the knowledge, the experience and the up-to-date information to keep you current, informed and paying the lowest taxes possible. The team would love to hear from you and read your question during next week’s podcast. Send your questions to macarenarose@gmail.com or add a comment in Tuesdays with Morey on Facebook.   Key Takeaways: [1:37] Does your accountant know how to handle your special tax situation? [7:11] Do I have to pay tax if I open a foreign corporation? [10:14] Morey can help to save you much more money than the cost of his fee. [12:11] What are the types of questions advisors should be asking clients to help them prepare for their financial future? [16:24] Will I know what my charges and fees are for Morey’s services before I agree to turn over my documents? [18:17] Glazer Financial has over 30 years of experience in helping clients to lower their taxes. [20:06] How many accountants should a good financial planning company have?   Mentioned in This Episode: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook

If you haven’t filed your taxes or think you may have made a mistake because you didn’t understand the tax code or foreign earned income credits, contact Morey’s office, Glazier Financial today. They will look over your past 3 Federal returns and supply you with an analysis to help you plan for your financial future. In addition, they will make certain you have the necessary tax forms filed. As a US citizen, you have a tax liability for life, no matter where you choose to do business or reside.   Key Takeaways: [1:14] Morey shares important information for expats [2:55] Teaching CPAs and attorneys in the pension administration business [3:33] Determine why you are going offshore [4:14] Some expats don’t even file tax returns [5:44] Hidden tax implications in US non-tax related bills [6:57] Foreign countries want your tax money too [7:45] The IRS looks at the variances in tax returns [9:32] A computer may not pick up the same things a tax planner does [10:29] Foreign income could be considered Subpart F Income [11:34] The Employee Retirement Income Security Act [13:36] Foreign tax credits - Which IRS forms to use [16:10] “We don’t disclose” is a thing of the past [17:20] The Federal Government is expanding what they consider to be a financial institution [18:14] Do it right the first time [19:16] Understand the taxes in your foreign country and your tax liability in the US [20:52] Plan before you move or invest internationally   Mentions: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook

Tax regulations are complicated enough in the US and if you have property or assets offshore you may find yourself reeling by the ever changing rules in the tax code. The Foreign Account Compliance Act (FACTA) focuses on the reporting and proper tax filing of offshore assets. If you are unsure about the applicable taxes, credits and rules regarding your upcoming move to a foreign country, allow Glazer Financial and Macarena Rose to help you to simplify the process.    Key Takeaways: [1:28] People forget to pay their tax, which causes penalties from the IRS [3:39] Planning is important if you are moving offshore, starting a business or running a household [7:43] Get assistance from a professional when investigating moving offshore [9:11] Glazer Financial analyzes 3-years of past returns to make certain there are no mistakes [11:59] Make a business or personal plan to keep yourself from going broke [12:36] Tuesdays with Morey is a mentoring program [14:59] New offices will be opening in Belize and Guadalajara [17:07] Morey speaks and holds seminars for several large organizations [18:05] Spend more than 330 days offshore & qualify for foreign earned income tax exclusion [20:09] Voluntary Disclosures and the Foreign Disclosure form will keep you from being audited   Mentions: Glazer Financial Network macarenarose@gmail.com Tuesdays with Morey on Facebook