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How to Move to Mexico: Visas, Costs, Taxes, and the Best Places to Live Mexico is one of the most popular countries in the world for Americans who want a lower cost of living, a warmer climate, and a richer day to day culture without moving halfway across the planet. Many expats are retirees, remote workers, or entrepreneurs who find that their money goes further while they gain a more relaxed lifestyle. For someone in the southwestern U.S. (like Arizona), Mexico is especially appealing because you can often drive instead of fly, keep close ties with friends and family, and still feel like you've made a big lifestyle upgrade. This guide walks through why and where to move, what it really costs, how visas work, how Mexican taxes function, when you might owe them, and other real world considerations that don't always show up in glossy travel articles. ________________________________________ Why move to Mexico? People move to Mexico for a mix of financial, personal, and lifestyle reasons. You can open this section with a simple story: for example, a couple selling a house in the U.S., paying cash for a home or condo in Mexico, and cutting their monthly expenses nearly in half while eating better and traveling more. Key motivations to highlight: Lower cost of living Mexico's overall cost of living is significantly lower than in the U.S. Rents in many Mexican cities are substantially cheaper than comparable U.S. cities, groceries and fresh produce are affordable, and services like cleaning, childcare, and home repairs cost far less. A couple who spends 5,000 USD per month in the U.S. can often live comfortably in Mexico on 2,000–3,500 USD per month, depending on city and lifestyle. Proximity and connectivity Unlike moving to Europe or Asia, living in Mexico means you're usually one flight away from your U.S. hometown. Major cities like Mexico City, Guadalajara, Monterrey, Cancún, and Mérida have robust air connections. Internet infrastructure has improved a lot; mid size cities now often have fiber optic service, making remote work highly feasible. Lifestyle and climate variety Mexico is huge and geographically diverse. You can choose from: • Coastal beach towns with surf culture and sunsets • High altitude colonial cities with spring like weather • Mega cities with world class dining, museums, and nightlife • Smaller, artsy towns with vibrant local traditions You get to decide whether you want small town community, cosmopolitan buzz, or something in between. Culture, food, and community You'll never run out of festivals, markets, and regional dishes. For many expats, the biggest upgrade isn't just cheaper rent, but living in a place where there's always music in the plazas, food in the streets, and a sense of community. In many popular locations, there is also an established expat network to help you orient. Healthcare Private healthcare in Mexico is dramatically more affordable than in the U.S. Many expats pay out of pocket for routine care and buy local or international health insurance for major events. In larger cities you'll find modern hospitals and specialists, and in some cases doctors who trained abroad. ________________________________________ Where to move in Mexico Mexico isn't a single experience. Moving to Oaxaca is very different from moving to Mazatlán or Guadalajara. This section should help you “try on” a few places in your imagination. Mexico City Vibe: Big city, cosmopolitan, urban energy. Pros: World class restaurants, museums, art, music, and nightlife; excellent air connections; plenty of coworking spaces and job opportunities with international companies. Cons: Higher rents than many other Mexican cities, traffic and air pollution, security can vary by neighborhood. Mexico City suits people who want an urban life and don't mind density. It works well for younger professionals or creatives, and for remote workers who want big city culture at a lower price than New York, LA, or San Francisco. Guadalajara Vibe: Large city with a strong tech scene and traditional Jalisco culture (mariachi, tequila). Pros: Big city services without quite the chaos of Mexico City, growing startup and tech ecosystem, nearby towns and lakes for weekend escapes. Cons: Some neighborhoods can feel sprawling; traffic is very real; summers can be hot. Guadalajara is a good fit for remote workers and entrepreneurs who want a mix of modern infrastructure and traditional Mexican character. Lake Chapala (Ajijic/Chapala) Vibe: Classic retiree and snowbird destination near a large lake. Pros: Mild climate, large English speaking expat community, social clubs and activities, walkable village feel in places like Ajijic. Cons: Heavy expat presence can make it feel less “Mexican” to some; limited big city amenities compared to Guadalajara. This area is ideal for retirees who want community, comfort, and a gentle pace of life within reach of a major city. San Miguel de Allende Vibe: Picturesque colonial city, artsy, charming, and heavily international. Pros: Beautiful historic center, strong arts and cultural scene, plenty of restaurants and galleries. Cons: One of the more expensive inland cities; tourism and expat presence drive up housing costs. San Miguel appeals to people who prioritize aesthetics, architecture, and culture and are willing to pay a premium. Querétaro Vibe: Clean, orderly, fast growing city with industry and a large middle class. Pros: Safe reputation, good infrastructure, beautiful colonial center, strong job market in manufacturing and services. Cons: Less “touristy charm” in some newer suburbs; housing prices have been rising with growth. Querétaro works well for families and professionals who want a modern, organized city with good schools and services. Puebla Vibe: Historic, livable city with serious food culture and nearby nature. Pros: Gorgeous colonial architecture, famous cuisine (like mole poblano), access to mountains and smaller towns, a mix of traditional markets and modern malls. Cons: Higher altitude and cooler winters than coastal areas; still under the radar for many expats, so less English support than in Lake Chapala or San Miguel. Puebla suits people who love culture, gastronomy, and city life but don't need a huge expat bubble. Oaxaca City Vibe: Cultural and culinary capital with strong Indigenous traditions and arts. Pros: Outstanding food, vibrant markets, year round festivals, access to mountains and rural communities, often lower rents than more famous expat hubs. Cons: Smaller airport and fewer direct international flights; infrastructure can be a bit more rustic compared to megacities. Oaxaca is great for people who want deep culture, don't mind a bit of grit, and prefer authenticity over polish. Mérida and the Yucatán Vibe: Colonial city, family friendly, often cited for safety. Pros: Strong sense of community, rich history, cenotes and beaches nearby, growing expat scene. Cons: Hot and humid much of the year; air conditioning can be essential. Mérida appeals to families, retirees, and anyone who wants a mix of culture and relative safety in a warm climate. Puerto Vallarta / Riviera Nayarit Vibe: Beach town/medium city with a strong expat and LGBTQ+ community. Pros: Ocean, sunsets, whale watching, strong tourism economy, many English speaking services, international airport. Cons: Housing and dining in tourist zones are more expensive; high season crowds; summer humidity. This is an easy landing spot if you want a beach lifestyle and community support from day one. Mazatlán Vibe: Working port city with long beaches and a growing expat presence. Pros: Ocean side living, more “local” feel than some resort towns, improving infrastructure, cost of living that can be lower than in ultra commercial tourist areas. Cons: Humid climate; parts of the city feel industrial; some areas are still rough around the edges. Mazatlán is appealing if you want the Pacific coast without the heavy commercialization and highest prices of places like Los Cabos or Cancún. Place Vibe Big Pros Main Tradeoffs Mexico City Mega‑city Culture, jobs, flights Cost, traffic, pollution Guadalajara Big, traditional Tech scene, culture Sprawl, traffic Lake Chapala Retiree village Mild climate, expat community Fewer urban amenities San Miguel Artsy colonial Beauty, culture Higher housing costs Querétaro Modern, orderly Safety, infrastructure Rising prices Puebla Historic, foodie Cuisine, architecture, nature nearby Less expat support Oaxaca City Cultural hub Food, festivals, affordability Smaller airport, rustic edges Mérida Warm, family‑oriented Safety, history Heat and humidity Puerto Vallarta Beach city Ocean, expat support Tourist prices in key areas Mazatlán Port/beach city More local feel, coast Humidity, some gritty areas ________________________________________ Cost of living in Mexico Readers want numbers, but it's better to provide realistic ranges and examples than a single “magic” figure. Basic cost structure Housing Rents vary wildly by location. A modest one bedroom in a non touristy city might rent for the equivalent of a few hundred dollars per month. In upscale neighborhoods of Mexico City or popular beach towns, modern apartments can cost as much or more than many mid tier U.S. cities. Utilities and internet Electricity is affordable unless you run heavy air conditioning all year, which you might need on the coasts and in the lowlands. Internet and mobile service are reasonably priced, with fiber available in many urban areas. Food and groceries Fresh fruits, vegetables, and staples are cheap, especially if you shop in local markets. Imported items (certain cheeses, specialty products) are more expensive. Eating at local restaurants and street food stalls is inexpensive; high end dining in major cities is still far cheaper than equivalent places in the U.S. Transportation Public transit, taxis, and app based rides are affordable. Owning a car involves fuel, insurance, and maintenance costs, but these are usually lower than in the U.S. You can often live car free in dense cities like Mexico City, Guadalajara, or Puebla. Example monthly budgets (rough, per household) Frugal single in a non touristy city • Rent (studio/1 bed): 400–600 USD equivalent • Utilities and internet: 70–120 • Groceries and local dining: 250–350 • Local transport and misc.: 100–150 • Total: roughly 800–1,200 USD per month Comfortable couple in a mid range city • Rent (nice 2 bed apartment): 700–1,200 USD • Utilities, internet, mobile: 120–200 • Groceries and eating out several times a week: 400–600 • Health insurance (local or international): 200–400 • Transport, entertainment, gyms, etc.: 200–400 • Total: roughly 1,600–2,800 USD per month Beach town or premium neighborhood living In high demand areas (like parts of Puerto Vallarta, San Miguel de Allende, or prime zones in Mexico City), you can easily spend 2,500–4,000 USD per month or more for a couple if you choose modern housing, eat out frequently, and live a more upscale lifestyle. Startup costs Don't forget one time or irregular costs: • Visa fees for temporary or permanent residency • International flights or moving your belongings • First month's rent plus deposit (sometimes more for furnished places) • Basic furniture and household goods if you're not renting furnished • Car purchase or import (if you choose to have one) Encourage readers to arrive with a cash cushion: at least 3–6 months of living expenses plus relocation costs. ________________________________________ Visa options and residency paths Mexico's visa system offers several ways to stay, depending on your plans and finances. Tourist stay Many foreigners enter Mexico as tourists without a visa and receive permission to stay up to a certain number of days (often up to 180 days, but it is not guaranteed). A tourist stay: • Does not allow you to work for Mexican employers • Does not let you access local residency benefits • Is not meant as a long term “back to back” solution Tourist entries are good for exploration trips but not for a full time move. Temporary resident (Residente Temporal) Temporary residency is the most common path for people who want to live in Mexico for more than six months without immediately going permanent. General characteristics: • Usually granted initially for 1 year, with the possibility to renew up to 4 years • Allows you to live in Mexico full time, open local bank accounts, and sometimes get local health coverage • Does not automatically grant permission to work; if you plan to work in Mexico you need work authorization attached to your residency Most temporary residents qualify via financial solvency (proof of income or savings). Typical recent numbers: • Monthly income requirement: roughly in the low to mid 4,000 USD range for the last 6–12 months, depending on the consulate • Savings/investment requirement: often in the high five figures to low six figures in USD equivalent, again varying by consulate Each Mexican consulate sets its own exact thresholds and evidence rules, so readers must always check with the specific consulate where they'll apply. Permanent resident (Residente Permanente) Permanent residency is ideal if you plan to live in Mexico indefinitely. Characteristics: • No need for frequent renewals • Lets you live in Mexico as long as you like • Often used by retirees or those with strong ties to Mexico (like family connections) You can qualify either: • Directly from abroad if you meet higher income or savings requirements, often thousands of dollars more per month than temporary residency; or • By first holding temporary residency for several years (for many, 4 years), then converting to permanent status inside Mexico. Again, the exact thresholds and documentation depend on the consulate and can change year to year. Work visas and business If you plan to work for a Mexican employer or run a Mexican company that needs your presence, you need proper work authorization. Basic ideas: • A Mexican employer can sponsor you for a temporary resident visa with permission to work if they are registered with the immigration authorities. • You cannot legally work in Mexico for a Mexican entity on a tourist visa. • If you intend to start a business (for example, a hotel, restaurant, or tourism operation), you'll need legal and tax advice to structure it correctly and secure the right visa. ________________________________________ Visa process: step by step overview You can treat this as a checklist. 1. Clarify your plan Decide how long you want to stay and whether you'll work, retire, or just live on savings or remote income. That determines whether you need temporary or permanent residency, and whether you need work authorization. 2. Choose a consulate and check requirements Review the website of the Mexican consulate you'll use (near your U.S. residence, for example). Requirements vary: one might emphasize income, another savings; some want 12 months of bank statements, others 6. 3. Gather documents Typical documents include: passport, completed application form, passport photos, bank and/or investment statements, pension or Social Security award letters, marriage or birth certificates if applying with family members. 4. Book and attend the consulate appointment You'll have a short interview, submit your documents, and pay a fee. If approved, the consulate places a visa sticker in your passport, usually valid for a limited period to enter Mexico and “activate” your residency. 5. Enter Mexico and finalize at immigration (INM) Within a set number of days after entering Mexico on your new visa (often 30 days), you must go to your local immigration office, complete forms, pay fees, and provide biometrics to receive your residency card. 6. Renew or convert (for temporary residents) Temporary residents must renew before their card expires, often annually at first. After the allowed number of years, many can convert to permanent residency. Many applicants use a local immigration facilitator or attorney, especially if their Spanish is limited or if they have a more complex case. ________________________________________ How Mexican taxes work This is where readers start wondering, “How much are Mexican taxes, and what do they tax?” Income tax (ISR) Mexico has a progressive income tax called ISR (Impuesto Sobre la Renta) that applies to individuals. For tax residents (people who are considered resident in Mexico for tax purposes): • The system uses progressive tax brackets. • Rates start at low single digits on small incomes (around 1.9%) and rise stepwise. • The top marginal rate is around 35% on high incomes (at several million pesos per year). • Most employment income is taxed through withholding by the employer, with an annual true up in a tax return. For non residents (people who are not tax resident in Mexico but have Mexican source income): • There is usually an exemption for a small initial amount of income. • Above that, one common pattern is 15% tax on mid range income and 30% on higher income, depending on the type and level of income. You don't need to quote exact peso thresholds to readers; it's enough to say that most ordinary incomes are taxed at moderate rates, while high incomes pay up to about 35%. What income do they tax? For Mexican tax residents, Mexico generally taxes worldwide income: • Wages and salaries from Mexican or foreign employers • Self employment and business income • Rental income from property in Mexico or abroad • Interest, dividends, and capital gains • Some pensions and retirement income, depending on the source and treaties For non residents, Mexico usually taxes only Mexican source income: • Income from work physically performed in Mexico • Rental income from Mexican real estate • Business profits from a Mexican business or permanent establishment • Some Mexican source interest and dividends If your readers are U.S. citizens, remind them: they must still file a U.S. tax return even if they also become Mexican tax residents, and they may be able to offset Mexican taxes through tax credits or exclusions. Value added tax (IVA) Mexico's sales tax is a value added tax called IVA. • The standard IVA rate is 16%, applied to most goods and services, including many consumer purchases and professional services. • There is a reduced rate (often around 8%) in certain border regions to promote competitiveness. • Some items are zero rated or exempt: many basic foods, some medicines, exports, certain types of housing, and some education and health services. As a consumer, you see IVA embedded in most prices, much like sales tax in the U.S. For businesses (like a hotel or restaurant), you collect IVA on sales and remit it to the government. Other common taxes and contributions Depending on what you do in Mexico, you might also encounter: • Social security contributions for employees (if you work for a Mexican employer) • Property taxes (predial), which are generally much lower than typical U.S. property taxes on a comparable property • Vehicle registration fees if you own a car You don't need to go into detail here, but it's worth flagging that these exist and are part of the overall tax picture. ________________________________________ Tax examples: retiree, remote worker, and Mexican employed American These simplified examples assume the person has become a Mexican tax resident (over 183 days per year in Mexico and/or center of vital interests in Mexico). Real world outcomes depend on exact numbers, deductions, the current year's brackets, and treaty interpretation, so they are for illustration only and not tax advice. Example 1: Retiree getting 30,000 USD/year in U.S. Social Security Assumptions: • 30,000 USD/year in U.S. Social Security, no other income. • Exchange rate of 18 MXN per USD → 540,000 MXN/year. • Lives in Mexico full time and is treated as a tax resident. Key points: • Foreign pensions, including U.S. Social Security, may need to be reported to the Mexican tax authority (SAT) once you are a Mexican tax resident. • In practice, some advisors and expats find that U.S. Social Security and U.S. retirement distributions are primarily taxed in the U.S., with Mexico focusing more on Mexican source income, but the safest assumption is that Mexico can tax worldwide income and may expect you to declare it. How you might explain it to readers: • If you are a retiree with 30,000 USD/year in Social Security and no other income, you will still deal with U.S. tax rules on that income. • Once you become a Mexican tax resident, Mexico may require you to report that income, but whether they actually tax it depends on treaty rules and how your situation is interpreted. • A cross border tax professional can tell you whether you'll see any Mexican tax on that Social Security or whether your liabilities remain mostly on the U.S. side. Plain English takeaway: retirees living on moderate U.S. Social Security often don't get hammered by Mexican income tax, but they should plan on at least reporting their income and coordinating U.S. and Mexican filings. Example 2: Remote American worker living in Mexico, making 80,000 USD/year from a U.S. employer Assumptions: • 80,000 USD/year salary from a U.S. company, work performed remotely while living in Mexico. • Exchange rate 18 MXN/USD → 1,440,000 MXN per year. • Spends more than 183 days/year in Mexico, so is a Mexican tax resident. Key points: • Mexico taxes its residents on worldwide income, which includes your U.S. salary. • If you are effectively working from Mexico, Mexico views that as Mexican taxable employment or self employment income, even if your employer is in the U.S. Approximate effect: • At around 1.44 million MXN/year, you'll be in higher ISR brackets, facing a top marginal rate of 35% on the upper slice of your income and a blended effective rate likely in the low to mid 20% range, after standard calculations. • You still file a U.S. return every year. • You may use the Foreign Earned Income Exclusion and/or foreign tax credits to prevent being fully taxed twice. If you're a U.S. citizen working remotely from Mexico and earning 80,000 USD/year from a U.S. employer, expect to owe Mexican income tax as a resident and still file a U.S. return. The good news is that, with proper planning, Mexican tax you pay can usually be credited against your U.S. tax so you're not double taxed on the same income. Example 3: American earning 60,000 USD/year from a Mexican employer Assumptions: • American citizen employed by a Mexican company, working in Mexico. • 60,000 USD/year salary → 1,080,000 MXN/year at 18 MXN/USD. • Treated as a Mexican tax resident. Key points: • This is clearly Mexican source employment income. • Your Mexican employer will withhold ISR from your paycheck based on the progressive tables, plus social security and other payroll contributions. • At roughly 1.08 million MXN/year, you're again in higher brackets, with an effective tax rate that can land roughly in the low to mid 20% range, depending on deductions and credits. • As a U.S. citizen, you still file a U.S. tax return but can typically use foreign tax credits and, possibly, the Foreign Earned Income Exclusion to avoid paying full tax twice. If you're an American making about 60,000 USD/year working for a Mexican employer, you'll see Mexican taxes withheld from every paycheck and you'll still file in the U.S., but in many cases the Mexican tax you pay will substantially offset what you owe the IRS. ________________________________________ When do you have to file Mexican taxes? Taxes depend on tax residency, not just on immigration status (visa type). When do you become a Mexican tax resident? Mexico may treat you as a tax resident when: • You spend more than 183 days in Mexico in a calendar year; or • Mexico is the “center of your vital interests,” meaning your main economic or family ties are there (for example, your spouse and minor children live in Mexico and you earn most of your income from Mexican sources). Residency for tax purposes is a legal determination, not just a personal choice, so it's wise to consult a tax professional if you're unsure. Filing and paying For Mexican tax residents: • Individuals generally file an annual income tax return, often in the spring of the following year (recent years use April 30 as a common deadline). • Some types of income require monthly provisional payments. • Employers withhold tax on salary, and banks or brokers may withhold on interest and other income. For non residents: • Mexican tax is often withheld at source by the payer (for example, a Mexican employer or tenant), at the applicable non resident rates. A simple rule of thumb for your readers: • If you spend less than 183 days in Mexico per year and don't earn Mexican source income, you usually don't file a Mexican tax return (but you still file in your home country). • If you live in Mexico most of the year, own a business there, or earn income from Mexican property or employment, expect to deal with Mexican tax returns and possibly to be treated as a tax resident. Always encourage readers to get cross border tax advice, especially U.S. citizens who may need to coordinate U.S. and Mexican returns. ________________________________________ Other important considerations Rounding out the blog with practical and cultural issues makes it feel grounded. Healthcare and insurance • Many expats use a combination of local private healthcare and insurance (either Mexican private plans or international expat policies). • Some long term residents enroll in Mexico's public healthcare system, but quality and access can vary by region. • Before moving, review how your current health insurance will work abroad and plan for major emergencies. Banking and money • Most people keep at least one bank account in their home country and open a Mexican account after they get residency, making it easier to pay rent and utilities. • Money transfer services and online banks can offer better exchange rates and lower fees than traditional bank wires. • U.S. citizens must also be mindful of foreign account reporting requirements (like FBAR and FATCA). Renting vs buying property • Renting first is usually smart. It gives you time to test neighborhoods, understand noise patterns, get a feel for the climate, and decide if you really like the city. • Buying property in Mexico can be attractive, especially in less expensive markets, but there are legal nuances, including special structures (like fideicomisos) for coastal and border properties. • Using a reputable notario (a specialized legal official) and real estate professionals is critical. Safety • Safety in Mexico is highly regional and neighborhood specific. Some places are very comfortable for day to day life, while others have serious security issues. • Research specific cities and neighborhoods, use recent data, and talk to locals and expats on the ground, not just headline news. • As in any country, common sense precautions (knowing where not to go at night, avoiding displays of wealth, learning local norms) go a long way. Language and integration • Learning Spanish is one of the best investments an expat can make. Even basic Spanish opens doors: cheaper local services, smoother dealings with bureaucracy, better relationships with neighbors. • Integration means respecting local customs, supporting local businesses, and avoiding “little bubble” lifestyles where expats only interact with each other. Working or running a business • Anyone planning to run a hotel, restaurant, tour company, or other business in Mexico needs clarity on immigration status, work authorization, and tax obligations. • A business that employs locals (for example, a hotel/restaurant concept in Puebla or a tourism operation in Oaxaca or Mazatlán) can be both profitable and socially impactful, but it requires upfront planning with local lawyers, accountants, and immigration professionals. • Operating “informally” or on a tourist visa can create serious immigration and tax problems.

Brent chats with Christine Alexis Concepción about how Americans in France can strategize around the thorny international tax issues they face. They talk about investing abroad, owning real estate in France, thinking about the cross-border tax world, and planning to succeed. Christine Alexis Concepción is an international tax and estate planning attorney and partner at Concepción Global, with offices in Miami, Madrid, and Paris. She advises high-net-worth individuals, entrepreneurs, and businesses on complex international and domestic tax matters, including income and estate tax planning, U.S. pre-immigration planning, expatriation, FATCA compliance, and multi-jurisdictional reporting. Christine has extensive experience advising individuals and families who have a connection between France and the U.S., guiding them through U.S.–France tax coordination, cross-border business structuring, real estate investing, and international estate planning. Multilingual in English, Spanish and French, Christine serves clients across the United States, Europe, Latin America, Africa, and the Middle East. To learn more about Christine and her work, connect with her on LinkedIn at https://www.linkedin.com/in/christineaconcepcion. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker's firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

Is your citizenship a rug pull waiting to happen? We sit down with legal expert Jennifer Harding Marlin (@jh_marlin) to discuss why relying on a single fiat passport is a massive single point of failure. We explore the harsh truth for Americans facing restrictive FATCA banking regulations and why entrepreneurs are forced to renounce US citizenship just to protect their stack and keep their businesses alive.Jennifer breaks down the citizenship by investment industry for those looking to opt out of the system completely. We navigate the maze of golden visa programs available right now to determine where you should plant your flag. From the lightning-fast El Salvador Freedom Visa to traditional Caribbean options we compare the best citadels. She highlights the ability to pay for a new nationality directly in Bitcoin for those looking to exit the fiat banking rails entirely.We also get into the operational security of securing your freedom. You will learn the difference between applying for a temporary digital nomad visa and securing a permanent high-security biometric passport that guarantees global mobility. Jennifer explains how to navigate the bureaucracy of background checks and apostille services to ensure you actually get approved. Subscribe to the channel to build your sovereign portfolio and drop a comment if you would move countries for better money laws-Bitcoin Beach TeamConnect and Learn more about Jennifer Harding:X: https://x.com/jh_marlin YT: https://www.youtube.com/@JenniferHardingMarlincitizen Web: https://jhmarlin.com/ Support and follow Bitcoin Beach:X: https://www.twitter.com/BitcoinBeach IG: https://www.instagram.com/bitcoinbeach_sv TikTok: https://www.tiktok.com/@livefrombitcoinbeach Web: https://www.bitcoinbeach.com Browse through this quick guide to learn more about the episode:00:00  Intro 02:26  How to become a citizenship lawyer in Caribbean 06:50  Best second passport for weak passport holders 09:44  Why American entrepreneurs renounce citizenship FATCA banking 13:15  New citizenship by investment programs 2025 Sao Tome 17:30  El Salvador Freedom Visa processing time vs St Kitts citizenship 22:10  Cheapest vs most expensive citizenship by investment 2025 28:40  Is foreign income tax-free in El Salvador for US expats 33:14  Paraguay vs El Salvador residency requirements for digital nomads 36:50  Can you get citizenship by investment with a criminal recordLive From Bitcoin Beach

In this episode of Swiss Money Secrets, WHVP's Jess Roberson, Jamie Vrijhof-Droese, and Urs Vrijhof-Droese come together to sit down and answer some of the most common questions we hear about Swiss banking for Americans. From the impact of FATCA to the real advantages of opening an account overseas, we break down what's possible today and what clients can expect when considering Switzerland as part of their financial strategy.We walk through the practical side of compliance and onboarding, explaining the documents required, how long the process usually takes, and how Swiss accounts differ from those in the U.S. Our team also discusses account structure, including options for holding multiple currencies, precious metals, and even the possibilities around crypto or IRAs.To round things out, we share our personal perspectives on why we enjoy this line of work, the value of building relationships in a boutique setting, and whether privacy still exists in today's banking world. If you've ever wondered how Swiss banking works for Americans, this conversation offers a clear and candid look behind the scenes.00:00 Intro00:53 Knabenschiessen04:20 Do Swiss banks still take Americans, or has FATCA basically shut that door for us?06:30 Why choose Swiss banking today? What's the real benefit?08:25 How do you determine which bank is the right one for me?11:33 Do I have to travel to Switzerland to open an account?13:01 What does FATCA really mean for Americans… what changes in their day-to-day compared to a normal U.S. account?14:20  Do I need a passport, or can I do it with a driver's license?14:50 What documents are required to do this?14:42 How long does the process take?19:15 Can I actually hold more than just dollars in there? 21:00 Can I hold cryptocurrencies in my account?22:16 Is it possible to send IRAs overseas?24:10 Who makes the investment decisions?28:25 Are the fees for Americans higher? I mean, do I pay a kind of ‘FATCA penalty' just for being a U.S. citizen?32:30 If I wanted to send money in or out of the account, would it raise red flags?33:55 How do I access my money? Partially or fully?37:25 Is there an equivalent to the FDIC?38:30 How did you end up in this line of business?42:30 How is working with a small company different than working with a large company?46:07 OutroContact WHVP:    Website: https://whvp.ch/    Email: info@whvp.ch    Telephone: +41 44 315 77 77    Schedule a Meeting: https://whvp.ch/get-started  About WHVP: WHVP is not just another asset manager. We are an independent firm specializing in managing the funds of private clients. Registered with the SEC in the U.S. and located in Zurich, Switzerland, we are associated with several first-class private banks in Switzerland and Liechtenstein, which serve as custodian banks for our clients' accounts. Our asset management principles are rooted in conservative, long-term-oriented capital preservation strategies. We prioritize personalized service, crafting portfolios that are shielded against U.S. Dollar depreciation while leveraging overseas investment opportunities. Disclaimer: All posts and publications are for your information only and are not intended as an offer, promotion, or solicitation to buy or sell any financial instrument or perform any other financial transactions. All information and opinions expressed in posts and publications reflect our current views as of the date of the publication and may be liable to change without notice.

Send us a textThe invisible chain that follows every American abroad isn't nostalgia—it's the IRS. Unlike citizens of virtually every other nation, Americans must file tax returns no matter where they build their lives, creating a bureaucratic burden that turns paradise into paperwork.This final episode of Leaving America dives deep into the unique tax situation facing U.S. citizens abroad. We explore the Foreign Earned Income Exclusion that shields most expats from actually paying U.S. taxes, but doesn't protect them from the annual filing requirement. We unpack FATCA—the law that turned Americans into toxic banking clients by forcing foreign financial institutions to report directly to the IRS or face severe penalties. Many expats now pay thousands to accountants just to file zero-balance returns.For some, this perpetual tether becomes too much to bear, leading to citizenship renunciation—the ultimate step in cutting ties with America. We walk through this process step by step: the $2,350 fee, the embassy appointment, the potential "exit tax" for higher-net-worth individuals, and what happens to Social Security and Medicare benefits afterward. Is freedom from IRS paperwork worth giving up your blue passport?Throughout the episode, experts like Tim Marting from Citizen Remote, David Lesperance from Lesperance Associates, Adrian Leeds from House Hunters International, and Basil Mohr-Elzeki from Henley & Partners offer insights on navigating these complex waters. We close with reflections from expats who've found their homes abroad, whether they've kept their U.S. citizenship or decided to let it go.Featuring:Tim MartingDavid LesperanceBasil Mohr-ElzekiMatt WilsonKaren McCannRichard McCollTim LeffellAdrian Leeds-------------------------Follow Deep Dive:BlueskyYouTube Email: deepdivewithshawn@gmail.com Music: Majestic Earth - Joystock

In this insightful episode, we explore the foundations of cross-border financial planning, designed specifically for Americans. Whether you're considering living overseas, investing internationally, or planning to retire abroad, understanding how to navigate complex financial landscapes across borders is essential. We dive into what cross-border financial planning really means—managing income, assets, and obligations that span multiple countries—and why it's crucial for maintaining compliance, minimizing tax liabilities, and protecting your wealth.We're joined by special guest John McNertney, founder and owner of Green Ocean Global Advisors, who brings deep expertise in helping Americans manage their finances across borders. John shares real-world insights on avoiding common pitfalls, understanding regulatory requirements, and building a solid, globally integrated financial strategy tailored to individual goals.You'll learn who needs cross-border financial planning, from U.S. citizens living abroad, international entrepreneurs, and Americans married to foreign nationals. We also highlight common and costly mistakes such as failing to report foreign accounts under FBAR and FATCA, investing in non-compliant foreign funds like PFICs, and overlooking estate planning conflicts between legal systems. For those investing offshore, we discuss how to achieve global diversification while staying aligned with U.S. regulations. If you're considering retiring outside the U.S., we cover key factors like local healthcare access, currency management, and how to handle U.S.-based retirement accounts from abroad. Finally, we walk through the first steps toward building a cross-border financial plan—setting clear goals, taking stock of international assets and obligations, and working with professionals who understand both U.S. and foreign financial systems.00:00 Intro00:30 Switzerland's Interest Rate Decision 03:27 Introduction To John McNertney & Green Ocean Global Advisors 06:36 Cross-Border Financial Planning vs. U.S. Financial Planning 08:26 What Is A Cross-Border Financial Plan11:02 Mistakes To Avoid 18:37 Make Sure You Have The Right Partners25:46 Opening An American Mind to International Investing33:33 Initial Steps Of A Financial Plan To Retire Overseas39:54 Final Thought40:52 Outro Webinar with John McNertney, Ryan Ahrens, and Jess Roberson: https://youtu.be/tHl9ZvvczHU?si=GmYFSVEb0tScxTGmLearn more about Green Ocean Global Advisors: https://www.greenoceanglobal.net/Find Green Ocean Global Advisors on YouTube: @greenoceanglobaladvisorsConnect with John McNertney on LinkedIn: https://www.linkedin.com/in/john-mcnertney-cfp%C2%AE-4b14a71/About WHVP: WHVP is an independent asset manager, specializing in managing the funds of private clients. We are registered with the SEC in the U.S. and are located in Zurich, Switzerland. We are associated with several first-class private banks in Switzerland, Liechtenstein, and Austria, which act as custodian banks for our clients' accounts. Our asset management principles are guided by conservative, long-term-oriented capital preservation strategies. Our focus is personalized service. We structure a portfolio that will be insulated against U.S. Dollar depreciation yet capitalize on overseas investment opportunities. Contact WHVP: Website: https://whvp.ch/ Email: info@whvp.ch Telephone: +41 44 315 77 77 Disclaimer: All posts and publications are for your information only and are not intended as an offer, promotion, or solicitation to buy or sell any financial instrument or perform any other financial transactions. All information and opinions expressed in posts and publications reflect our current views as of the date of the publication and may be liable to change without notice.

In this episode, I sit down with international tax expert Alex McGowin of McGowan Tax LLC to talk about what Americans need to know about taxes when moving abroad. Alex breaks down the key things expats often get wrong—like filing requirements, foreign earned income exclusion, and the foreign tax credit—and explains how to avoid double taxation.We also get into specifics like tax implications for employees, remote workers, self-employed expats, business owners, and retirees. Alex shares advice on business structures, how to manage self-employment taxes abroad, and the role of tax treaties and totalization agreements. We also dig into investing for retirement, pensions, Roth IRAs and other investment accounts when you're living abroad!Whether you're freelancing in Europe or considering setting up an LLC while living overseas, this episode is packed with helpful guidance. We also discuss FATCA, FBAR, and DIY tax tools for expats—plus when it's time to bring in a pro.If you're thinking about moving abroad or are already living overseas, this is a must-listen.Find more from Alex at https://mcgowantax.com

Wed, 09 Jul 2025 03:45:00 +0000 https://jungeanleger.podigee.io/2398-borsepeople-im-podcast-s19-20-manuel-kurz 8324025ef3a601ce26095eb4782576b5 Manuel Kurz ist Deputy Head of Member Sales & Business Development bei der Wiener Börse und parallel Prokurist bei der CCPA, die ja 50-Prozent-Tochter der Börse ist. Ganz bewusst habe ich ihn für Sendetermin "9.Juli 2025, der 18. Jahrestag des All-time-Highs im ATX" eingeladen. Wir sprechen über einen frühen Touchpoint zur Börse, weiters über familiären Bezug zur Börse, über spannende erste Jobs bei der UniCredit Bank Austria und der RLB NÖ Wien / RSC, dann vor 13 Jahren den Wechsel zur Wiener Börse. Es geht auch um FATCA, CIIA/CEFA/CPM, wichtige Wegbegleiter:innen, die Bindeglied-Rolle zur CCPA sowie Indexrekorde. Finally auch um die Running Bulls mit Aktiv-Member Manuel. http://www.wienerborse.at https://www.ccpa.at Börsepeople Iris Schatzl Wiener Börse: https://audio-cd.at/page/podcast/5430 Börsepeople Thomas Rainer Wiener Börse: https://audio-cd.at/page/podcast/4910 Börsepeople Wolfgang Aubrunner CCPA: https://audio-cd.at/page/playlist/6697 Börsepeople Kalina Jarova Müller CCPA: https://audio-cd.at/page/playlist/6701 About: Die Serie Börsepeople des Podcasters Christian Drastil, der im Q4/24 in Frankfurt als "Finfluencer & Finanznetworker #1 Austria" ausgezeichnet wurde, findet im Rahmen von http://www.audio-cd.at und dem Podcast "Audio-CD.at Indie Podcasts" statt. Es handelt sich dabei um typische Personality- und Werdegang-Gespräche. Die Season 19 umfasst unter dem Motto „25 Börsepeople“ 25 Talks. Presenter der Season 19 ist die Volksbank https://www.volksbank.at. Welcher der meistgehörte Börsepeople Podcast ist, sieht man unter http://www.audio-cd.at/people. Der Zwischenstand des laufenden Rankings ist tagesaktuell um 12 Uhr aktualisiert. Bewertungen bei Apple (oder auch Spotify) machen mir Freude: http://www.audio-cd.at/spotify , http://www.audio-cd.at/apple . 2398 full no Christian Drastil Comm. 2003

Learn how to navigate gas prices this summer, then hear how to make your money work after retiring early and moving abroad. What's going on with gas prices this summer? How can early retirees turn their savings into income abroad? Hosts Sean Pyles and Elizabeth Ayoola discuss gas price trends and smart investment options for early retirees to help you plan a smoother ride — both on the road and in your financial journey. Joined by NerdWallet's Anna Helhoski and AAA's Aixa Diaz, they begin with a discussion of 2025 gas prices, with tips and tricks on timing your fill-ups, choosing the right fuel blend, and prepping your car for summer travel. Then, Sean and Elizabeth answer a listener's question about how to turn $150,000 in savings into ongoing passive income after achieving FIRE (Financial Independence, Retire Early) and relocating to Spain. They discuss how to balance accessibility with growth through options like CD ladders, T-bills, REITs, and dividend ETFs. They also explore considerations around managing rental properties from abroad, currency risk, and the importance of working with a CPA to avoid tax pitfalls when investing internationally. Use NerdWallet's free compound interest calculator to see how your savings and investment account balances can grow with the magic of compound interest: https://www.nerdwallet.com/calculator/compound-interest-calculator  Dividend aristocrats are stocks that raise their dividends every year. Here's an overview of how to invest in them: https://www.nerdwallet.com/article/investing/top-dividend-aristocrats-list Dividend stocks can be a great choice for investors looking for passive income and portfolio stability. View NerdWallet's list of the best high-dividend stocks and learn how to invest in them: https://www.nerdwallet.com/article/investing/how-to-invest-dividend-stocks  Here's NerdWallet's list of the best ways to send money internationally: https://www.nerdwallet.com/article/banking/best-ways-to-wire-money-internationally  In their conversation, the Nerds discuss: gas prices 2025, summer gas prices, how to save money on gas, why are gas prices rising, AAA fuel cost calculator, road trip cost calculator, gas price trends, crude oil price impact on gas, how to prepare for a road trip, car maintenance for road trips, road trip emergency kit checklist, what affects gas prices, hurricane impact on gas prices, early retirement abroad, how to generate passive income after FIRE, CD ladder strategy, high-yield savings alternatives, best short-term investments, moving to Spain finances, cost of living in Spain vs USA, living off rental income abroad, managing rental property from overseas, REIT vs dividend ETF, opening brokerage account abroad, FATCA rules for expats, real estate income planning, investing while living overseas, treasury bills vs CDs, compound interest calculator, diversifying passive income, financial planning after FIRE, and retiring in your 40s. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

中国人民银行与香港金融管理局于6月20日联合宣布，内地与香港快速支付系统互联互通（下称跨境支付通）将于6月22日正式上线。届时，两地居民仅凭收款方手机号码或银行账户，即可完成小额跨境汇款的实时到账操作，突破传统跨境汇款的时效限制。 当前，首批参与跨境支付通共12家，其中内地机构包括工、农、中、建、交五家国有大行以及招商银行；香港机构包括中银香港、东亚银行、建银亚洲、恒生银行、汇丰香港、工银亚洲，后续将逐步扩大参与范围。 02:13 跨境支付通：6月22号后的转账变革，速度与手续费的双重颠覆！ 05:26 招行和交行的转账体验对比：方便快捷但有限额 10:53 在四大上班，每个月给女儿汇款一万元生活费，养儿育女的现实与劝退 16:23 “信用卡额度限制：生活使用与投资之间的尴尬选择” 21:49 揭开CRS的神秘面纱：中国税务机关如何掌握境外信息 27:16 揭秘FATCA：美国与中国之间的双向信息交换机制 32:48 香港银行卡与人民币支付的便利性：在内地和香港之间的无缝连接 38:16 海外投资的机遇与挑战：普通百姓如何实现资产增值？ 43:42 创业者的必备心态：百万大火 Origin Story 49:10 A股投资策略：技术分析、基本面分析与基本面认知的重要性 54:39 投资理念与经历：在旅途中寻找优质股票的故事 01:00:04 情绪价值与实际收益：理财中的幻觉与现实差距

中国人民银行与香港金融管理局于6月20日联合宣布，内地与香港快速支付系统互联互通（下称跨境支付通）将于6月22日正式上线。届时，两地居民仅凭收款方手机号码或银行账户，即可完成小额跨境汇款的实时到账操作，突破传统跨境汇款的时效限制。 当前，首批参与跨境支付通共12家，其中内地机构包括工、农、中、建、交五家国有大行以及招商银行；香港机构包括中银香港、东亚银行、建银亚洲、恒生银行、汇丰香港、工银亚洲，后续将逐步扩大参与范围。 02:13 跨境支付通：6月22号后的转账变革，速度与手续费的双重颠覆！ 05:26 招行和交行的转账体验对比：方便快捷但有限额 10:53 在四大上班，每个月给女儿汇款一万元生活费，养儿育女的现实与劝退 16:23 “信用卡额度限制：生活使用与投资之间的尴尬选择” 21:49 揭开CRS的神秘面纱：中国税务机关如何掌握境外信息 27:16 揭秘FATCA：美国与中国之间的双向信息交换机制 32:48 香港银行卡与人民币支付的便利性：在内地和香港之间的无缝连接 38:16 海外投资的机遇与挑战：普通百姓如何实现资产增值？ 43:42 创业者的必备心态：百万大火 Origin Story 49:10 A股投资策略：技术分析、基本面分析与基本面认知的重要性 54:39 投资理念与经历：在旅途中寻找优质股票的故事 01:00:04 情绪价值与实际收益：理财中的幻觉与现实差距

Der Podcast beleuchtet, wie der automatische Informationsaustausch (AIA) weltweit funktioniert und welche steuerlichen Folgen er für Investoren hat. Anhand realer Beispiele zeigt Andreas, welche Investitionen meldepflichtig sind – und welche nicht. Dabei wird der strategische Vorteil nicht-börsennotierter, substanzbasierter Investments hervorgehoben.

Become a Client: https://nomadcapitalist.com/apply/ Get our free Weekly Rundown newsletter and be the first to hear about breaking news and offers:https://nomadcapitalist.com/email Join us for the next Nomad Capitalist Live event: https://nomadcapitalist.com/live/ Worried about the future of your wealth in the US? Wealthy Americans are moving hundreds of millions of dollars out of US banks—fearing political instability, capital controls, and rising financial restrictions. In this episode, Mr. Henderson breaks down what's really happening behind the headlines, explains the mistake most people are making, and shares smarter, more strategic ways to diversify your money globally. Nomad Capitalist helps clients "go where you're treated best." We are the world's most sought-after firm for offshore tax planning, dual citizenship, international diversification, and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors. We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country. No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't. Become Our Client: https://nomadcapitalist.com/apply/ Our Website: http://www.nomadcapitalist.com/ About Our Company: https://nomadcapitalist.com/about/ Buy Mr. Henderson's Book: https://nomadcapitalist.com/book/ DISCLAIMER: The information in this episode should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

A review of the week's major US international tax-related news. In this edition: US announces tax agreement negotiations with Taiwan – IRS launches new LB&I pass-through field operations unit, EY's Jeff Erickson chosen to lead – IRS announces new FATCA relief for FFIs – US officials discuss coming changes to CAMT regs – IRS official recommends expanding OECD Treaty Article 25 MAP scope – OECD official offers BEPS IF update.

Tax Planning, Enforcement, and International Taxation Source: Session 3: Tax Planning, Enforcement, and International Taxation Main Themes: Strategic Tax Planning: Utilizing legal provisions to minimize tax liability and maximize after-tax income. This encompasses: Retirement Account Optimization: Leveraging Traditional and Roth IRAs, 401(k)s, 403(b)s, and self-employed plans to defer income and maximize contributions. Tax-Efficient Investing: Investing in vehicles like municipal bonds, tax-deferred accounts, and managing capital gains to reduce tax burdens. Estate Planning: Utilizing gifting strategies and trusts to minimize estate taxes and ensure smooth wealth transfer. Understanding Tax Audits and Enforcement: Knowing the IRS audit process, taxpayer rights, penalties for non-compliance, and the appeals process. Navigating International Taxation: Addressing the complexities of U.S. taxation of worldwide income, double taxation treaties, transfer pricing, and reporting requirements for foreign assets. Keeping Abreast of Recent Tax Law Developments: Staying informed about changes brought by the Tax Cuts and Jobs Act, Inflation Reduction Act, and initiatives targeting the digital economy. Key Ideas and Facts: Tax Planning: "Tax planning is not about evading tax obligations but rather taking advantage of legitimate opportunities provided by the tax code." Retirement accounts offer tax advantages like deductibility of contributions, tax-deferred growth, and potential tax-free withdrawals (Roth IRA). Employer matching in 401(k) plans is "essentially free money." Tax-efficient investments minimize the impact of taxes on returns. Long-term capital gains are taxed at preferential rates compared to short-term gains. Estate planning tools like gifting and trusts help minimize estate tax liability. Tax Audits and Enforcement: The IRS uses various methods to select returns for audit, including random selection, computer screening, and document matching. Red flags that can increase the likelihood of an audit include large charitable contributions, unusually high deductions, and discrepancies between reported income and third-party information. Taxpayers have the right to representation and appeal during an audit. Penalties for non-compliance can be severe, ranging from late filing/payment penalties to accuracy-related penalties and even criminal prosecution for fraud. International Taxation: U.S. citizens and residents are taxed on their worldwide income. The Foreign Earned Income Exclusion (FEIE) and Foreign Tax Credit (FTC) alleviate double taxation for individuals working abroad. Tax treaties prevent double taxation and clarify taxing rights between countries. Transfer pricing rules ensure fair income allocation among related entities in different countries. U.S. taxpayers with foreign financial assets exceeding certain thresholds must file FBAR and comply with FATCA reporting requirements. Recent Developments: The Tax Cuts and Jobs Act (TCJA) lowered the corporate tax rate, increased the standard deduction, and introduced the Qualified Business Income (QBI) Deduction. The Inflation Reduction Act provided tax credits for electric vehicles, energy-efficient home improvements, and imposed a corporate minimum tax. International efforts are underway to address digital economy taxation and implement a global minimum tax. Case Studies: Maria's case: Illustrates the importance of utilizing the FEIE, FTC, and FBAR filing for U.S. citizens living and working abroad. John's case: Demonstrates the value of proper documentation, understanding taxpayer rights, and the potential benefits of the appeals process during an audit. Conclusion: Staying informed about tax law changes, planning strategically, and ensuring compliance are crucial for managing tax obligations effectively. A comprehensive understanding of tax planning, enforcement, and international taxation empowers taxpayers to optimize their financial well-being while minimizing risks. --- Support this podcast: https://podcasters.spotify.com/pod/show/law-school/support

In this episode of the Snowbirds Ex Pats Radio Podcast, Gerry Scott speaks with Greenback's CEO Mike Wallace about the psychological aspects of financial decision-making for expats, common tax-related challenges, such as understanding the complexities of FATCA, FBAR, as it applies to overseas Americans, and how to manage complex tax situations.

Ep #54 With David Caruso, Dominion Advisory Group In this episode of Regulatory Ramblings, David Caruso, a former U.S. Secret Service agent turned global financial crime fighter, shares insights from his 30-year journey in AML and financial crime compliance. With an impressive career, including time as chief compliance officer at Riggs Bank, David recounts his pivotal role in uncovering corruption scandals involving Equatorial Guinea and former Chilean dictator Augusto Pinochet. These investigations sparked significant U.S. regulatory and legal actions, influencing AML enforcement on a global scale. David reflects on the evolution of financial crime compliance, pointing to key regulations like the Bank Secrecy Act, USA PATRIOT Act, and FATCA. He critiques how the increasingly regulatory-driven focus has distracted AML teams from their primary mission. He also shares his concerns about international policy-setting bodies, such as the Financial Action Task Force (FATF), questioning whether new rules are truly effective in preventing financial crime or unintentionally stifling economic growth. The discussion wraps up with David's views on the limited success of sanctions against Russia, the potential of AI in AML/KYC compliance, and his policy recommendations moving forward. David Caruso is the founder and managing director of Dominion Advisory Group, helping banks across the U.S., Europe, and Asia navigate financial crime risk and compliance. With a background as a U.S. Secret Service agent and a degree from George Washington University, he has been at the forefront of shaping financial crime compliance since 1996, advising global institutions and building AML programs at major banks. For more details about the contents of this podcast, please visit: www.hkufintech.com/regulatoryramblingsHKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.

Doug McHoney (PwC's International Tax Services Global Leader) is joined by returning guest Rebecca Lee, a Principal in PwC's Washington National Tax Services Practice where she focuses on complex tax problems and financial transactions in the digital asset space. Doug and Rebecca discuss T.D. 10000, the recently published final regulations dealing with digital assets. They dive into the details of digital assets, including the definition of a digital assets, revisiting non-fungible tokens (NFTs) and blockchain, and the different types of digital transactions. They also cover the background of the final regulations, calculating gains and losses, determining basis, digital asset transaction costs, ordering rules, Form 1099-DA, Notices 2024-56 & 2024-57, and the applicability dates. They finish the podcast with an exploration of how other jurisdictions are approaching cryptocurrencies around the world, touching on FATCA, DAC8 and more. 

How does living abroad impact the taxes an American has to pay? Unlike most countries that tax based on residency, the US employs citizenship-based taxation, meaning Americans are taxed on their global income regardless of where they reside. This unique system creates a web of complexities, including stringent reporting requirements and potential penalties, which can leave many US citizens feeling overwhelmed. In this discussion, Marylouise Serrato from American Citizens Abroad, joins Kyle Hulehan to explore the implications of FATCA for Americans living outside the United States. Together, they'll unpack the compliance hurdles and misconceptions surrounding US tax obligations abroad, offering insights on the future of tax policy and its impact on the global American community.  Links:  https://www.americansabroad.org/Support the Show.Follow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

How does living abroad impact the taxes an American has to pay? Unlike most countries that tax based on residency, the US employs citizenship-based taxation, meaning Americans are taxed on their global income regardless of where they reside. This unique system creates a web of complexities, including stringent reporting requirements and potential penalties, which can leave many US citizens feeling overwhelmed. In this discussion, Marylouise Serrato from American Citizens Abroad, joins Kyle Hulehan to explore the implications of FATCA for Americans living outside the United States. Together, they'll unpack the compliance hurdles and misconceptions surrounding US tax obligations abroad, offering insights on the future of tax policy and its impact on the global American community.  Links:  https://www.americansabroad.org/Support the Show.Follow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – interviews Enrique Hernandez-Pulido and Raúl Villarreal Garza – Partners at Procopio, an AmLaw 200 corporate and litigation law firm. Enrique and Raúl share insights into Procopio's success and their diverse backgrounds, contributing to a remarkable team of attorneys with licenses in the U.S. and abroad. The discussion focuses on the current political and economic environment in Mexico and the tension clients are experiencing. Enrique and Raúl discuss how Mexican clients are navigating recent developments, including the election in Mexico, which presents both opportunities and concerns. They emphasize the importance of jurisdiction selection and fiduciary duty amid the uncertainty many are feeling. As they conclude, David asks for their views on the strong push for transparency through CRS, FATCA, and CTA, balancing client privacy with regulatory demands. They also discuss the impact of the Pandora Papers and Panama Papers, defending the trust industry's stance on asset protection, privacy versus secrecy, and tax planning versus tax evasion.

Esta mañana en #Noticias7AM entrevistamos a Mtro. Jorge Alberto Pickett Corona, Abogado Fiscalista y Columnista. Tema: Ley Fatca

In this episode, we discuss the FATCA and CRS Update, CIMA AML Surveys, CIMA Rule and Statement of Guidance on Market Conduct for Trust and Corporate Service Providers and Company Managers, CIMA Policy on Virtual Asset Service Provider ("VASP") Registration and Licensing and the Financial Regulatory Authority ("FRA") Updated SARs Guidance.SPEAKERS:Patrick Head | Partner | +1 345 814 5377 | patrick.head@maples.com | View BioTim Dawson, Partner | +1 345 814 5525 | tim.dawson@maples.com | View bioNikki Wood | Partner | +1 345 814 5463 | Nikki.Wood@maples.com | View bioMichelle Bailey | Senior Vice President - Head of Cayman AEOI | +1 345 814 5711 | Michelle.Bailey@maples.com | View bioRESOURCES:Click here for Episode 14 Presentation slidesTo watch previous episodes of the 15/15 webcasts, Click hereRELATED SERVICES:Maples Group Regulatory and Financial Services AdvisoryWith a depth of experience across all regulated sectors, the Maples Group Regulatory and Financial Services team is positioned to address client needs and sensitivities. We have the largest dedicated Cayman Islands Regulatory and Financial Services team in the offshore market.FOLLOW US: LinkedIn: https://www.linkedin.com/company/maplesgroup/Instagram: https://www.instagram.com/maplesgroup/Twitter: https://twitter.com/maplesgroupFacebook: https://www.facebook.com/maplesgroup/Website: https://maples.com/

In this episode Harriet and Grahame discuss the legal challenges to FATCA and CRS and explain how they feel about the boundaries of what is and what isn't justifiable. FATCA and CRS were introduced in the last decade to mandate exchange of information between banks and foreign tax authorities on the contents of accounts held outside your home jurisdiction. There has long been disquiet amongst professionals about this as an invasion of privacy. A growing number of cases are challenging the legal basis of FATCA and CRS.

Mona, Rebecca and Mark share their 8+ year podcasting journey to episode 200!In this episode, you will be able to:•    Understand the step-by-step process and costs involved in renouncing US citizenship for informed decision-making. •    Discover the tax implications associated with giving up US citizenship and how to strategically plan for them. •    Explore the reasons behind the increasing trend of American renunciations and its potential impact on expatriates. •    Learn about the significance of FATCA and how it affects American expats living abroad. •    Uncover the complexities of dual citizenship and the related tax obligations for expatriates and green card holders.Have a topic or question you would like covered on a future episode of Global Investment Voice?Let us know over at https://globalinvestmentvoice.com/contact/ or using the contact details below.Phone: 212-233-7473Email: info@mshahlaw.comTo discover the show notes on this episode as well as other topics, information, and resources; please head over to https://globalinvestmentvoice.com/podcast/

Join us in welcoming Olivier Wagner, founder of 1040 Abroad, to the show. With increasing interest in Plan B options and international living, especially post-COVID, Olivier offers insights into becoming a global citizen. Discussion highlights include the trend of U.S. citizens renouncing their citizenship due to worldwide income tax obligations, enforced by FATCA and FBAR regulations. Olivier explains tax strategies like the Foreign Tax Credit and Foreign Earned Income Exclusion for expats. He also discusses Mexico as a favorable destination for expatriates due to its relaxed residency and banking requirements. Learn more at https://1040abroad.com/   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

In this episode I took at "Fatca" - the Foreign Account Tax Compliance Act. This particular act was passed in 2010, and means that if you live in America and are involved in its tax system (which I am, thanks to my podcast work) then America wants to tax everything you have, in any country. Only two countries in the world insist on doing this — America… and Eritrea, a country in East Africa. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.webworm.co/subscribe

Mona and Mark are joined by Alexander Marino to discuss the growing trend of Americans renouncing their U.S. citizenship.In this episode, you will be able to:•    Understand the step-by-step process and costs involved in renouncing US citizenship for informed decision-making. •    Discover the tax implications associated with giving up US citizenship and how to strategically plan for them. •    Explore the reasons behind the increasing trend of American renunciations and its potential impact on expatriates. •    Learn about the significance of FATCA and how it affects American expats living abroad. •    Uncover the complexities of dual citizenship and the related tax obligations for expatriates and green card holders.Have a topic or question you would like covered on a future episode of EB-5 Investment Voice?Let us know over at https://mshahlaw.com/contact-us/ or using the contact details below.Phone: 212-233-7473Email: info@mshahlaw.comTo discover the show notes on this episode as well as other topics, information, and resources; please head over to https://mshahlaw.com/Podcast/

A review of the week's major US international tax-related news. In this edition: US Congress returns from August recess after Labor Day – IRS releases proposed regulations on digital asset information reporting – IRS extends FATCA penalty relief for certain dividend equivalent payments – IRS releases Q4 update to 2022-2023 Priority Guidance Plan.

This week we're covering foreign pensions and when there is an FBAR and FATCA reporting requirement.

This week we're covering foreign pensions and when there is an FBAR and FATCA reporting requirement.

We chat with the Executive Director of ACA, Marylouise Serrato about what's new with ACA's advocacy in Washington DC, what is happening with the three bills introduced in the last Congress (Congresswoman Maloney's safe harbor bill for FATCA reporting, her commission bill, and Congressman Beyer's tax filing simplification act); the impact of government and academic studies on advocacy for tax reform; why Congressional hearings are so important; what is going on with the Americans Abroad Caucus; and much more! Visit ACA ACA's Current Write-In Campaigns Join ACA

In the world of compliance, there are two main regulatory approaches: how to do things regulations and how to report things regulations. Depending on the regulation type, the compliance and implementation strategy can be dramatically different. In this episode, we explore how smart fintech companies can leverage a specific regulatory approach to grow and optimize their businesses while minimizing the burden of compliance. We'll also dive deeper into the benefits of the how to do things regulatory approach and how it can help companies optimize their processes and services. If you found value in this episode, I would really appreciate it if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is.    Today's episode: [00:32] Discussion of the two main regulatory approaches: how to do things regulations and how to report things regulations. [01:49] The types of regulations that provide clarity and a level playing field for companies. [3:26] The differences between regulations on how to do things and how to report things and how companies in the compliance industry view them. [04:19] How regulations aimed at detecting and curbing unwanted behavior can be overly burdensome for companies and individuals. [05:41] Contrasting compliance regulations that offer little value to companies already doing the right thing with regulations that can help a business optimize its processes for growth.  [07:20] Tips for determining whether a regulation is helpful and minimizing compliance efforts. [08:35] An invitation to share your experiences and thoughts on the two types of regulatory approaches discussed.   Show links: Connect with me on LinkedIn here. Learn how to be valued as a FinTech compliance expert! Join our next call: https://yana-afanasieva.mykajabi.com/collective  Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package! I would love to invite you to sign up for my newsletter. If you are interested, please click here.

Today on the Expat Money Show, I am going to share a conversation I had last year on The Tom Woods Show. This interview has gotten such a great response since it first aired that I wanted to share it here with you to make sure you didn't miss it. Tom didn't let me off easy and really put me on the hot seat, bringing up a ton of objections that many who are first hearing about the expat lifestyle tend to come up with. Answering Common Expat Objections In this discussion, I respond to some common “black pilled" takes that Tom has heard about the negative side of expatriation, dispelling the notion that the advantages you can achieve outside your country of birth aren't all that great when you break it down. There is no Shangri-La - no perfect libertarian country in the world. It does not exist. But that's not to be said that we can't get more freedom in our lives by being overseas or by jurisdiction shopping. I explain to Tom exactly what FATCA - the Foreign Account Tax Compliance Act -  is and how it works, and why it's even caused some Americans to go as far as to renounce their U.S. citizenship! I address Tom's concern that whatever problems you have in the U.S., they may very well be worse outside the U.S., as was the case in certain countries when it came to COVID restrictions. Tom and I talk about how Americans can utilize the Foreign Earned Income Exclusion to greatly reduce their tax burden while living overseas. I break down the concept of citizenship by investment and how the process typically unfolds for those with substantial funds to invest overseas. I lay out the many reasons to have a second passport, even if you do not plan to live outside your home country! I provide some definitive first steps to take for those that have caught the expat bug and are ready to take their expat journey to the next level. RELATED EPISODES 221: What The World Can Expect In 2023 - Ron Paul 170: Searching For Freedom In Mexico - Marc Clair 093: Why Are People Leaving The USA – Travis Luther PURCHASE THE EXPATS GUIDE TO MOVING TO MEXICO Get your own copy of the Expats Guide on Moving to Mexico and after you read the book, do us a HUGE favour and leave us a great review on Amazon! This is a huge help in getting the book in front of more people. THE EXPAT MONEY SUMMIT We also discussed the Expat Money Summit a bit, and even though this was from last year, we will be doing another summit this year, so you can head to this link and grab a FREE ticket to the largest expat event of the year. CONCLUSION I hope you enjoyed today's conversation on The Tom Woods Show. Tom is an excellent interviewer, and I loved how he pressed me on some of the common objections people who are first learning about the expat lifestyle often hold. These are questions that don't often come up here on the Expat Money Show, where I primarily interview those who are...

Welcome to episode 5 of the American Overseas Podcast I'm Linda Mabelis and in this episode I am talking about the burden of US persons overseas and the initiatives initiated by the organizations Americans Overseas and American Citizens Abroad in search of sustainable solutions for Americans abroad with my guests:Daan Durlacher, experience expert andMarylouise Serrato, executive director of Americans Citizens Abroad.What burden are we talking about? From American expats to coincidental Americans, they are all facing the same issue: and that is having to deal with citizen-based taxation.Please contact us with any questions you may have: support@americansoverseas.orgLinks:When are you considered a US person (and taxable)RSS feedWebsite Americans Overseas, Facebook, Twitter, LinkedinSubscribe: Apple Podcasts, Spotify, Postcastindex

Discussion of recent actions taken by governments in enforcing FATCA and the Common Reporting Standard - CRS.

U.S. Tax Court Chief Judge Kathleen Kerrigan discusses the court's post-COVID transition and case management system, and how the additional funding from the Inflation Reduction Act may be used.Listen to our episode with Judge Foley, "Talking With the Tax Court Chief Judge: A Year of Change."For additional coverage, read these articles in Tax Notes:Company Looks to Reverse Tax Court Software Fee Deduction RulingMedtronic II's Unspecified Method Raises Specific QuestionsTax Court Should Never Have Heard Whistleblower Case, IRS SaysTax Court's Sealed Case Iceberg Will Soon Be Fully ThawedIn our “Editors' Corner” segment, Filippo Noseda, a partner at Mishcon de Reya LLP and a visiting professor at King's College in London, chats about his Tax Notes series on potentially corrupt behavior with FATCA and EU public registers.   Follow us on Twitter:David Stewart: @TaxStewTax Notes: @TaxNotes**This episode is sponsored by 360 Coverage Pros. For more information, visit 360coveragepros.com/taxnotes.This episode is sponsored by SafeSend. For more information, visit safesend.com.This episode is sponsored by the University of California Irvine School of Law Graduate Tax Program. For more information, visit law.uci.edu/gradtax.***CreditsHost: David D. StewartExecutive Producers: Jasper B. Smith, Paige JonesShowrunner and Audio Engineer: Jordan ParrishGuest Relations: Alexis HartWe want to hear from you, our listeners! To fill out a short, two-minute survey, visit taxnotes.co/podcastsurvey.

A review of the week's major US international tax-related news. In this edition: OECD releases new global tax transparency framework for crypto-assets, amendments to Common Reporting Standard – IRS to request Sponsoring Entities cancel their FATCA agreement if they fail to meet Sponsoring Entity requirements.

Descriptions- EXPAT FILES SHOW #1177 FRI, SEPT 09 (09-09-22)  #1- ANNOUNCING MY WEEK LONG LATIN AMERICAN EXPAT “INSIDER” SEMINAR FOR THE FALL OF 2022: Our event will be held in the Dominican Republic beginning Saturday, Nov 5th thru Friday, Nov 11th 2022. Signup and get full details at www.ExpatPlanB.com  #2- Steps to take as the US slips into 3rd World status:  #3- Can you really learn Spanish well enough to completely understand the local Latinos?  #4- How ridiculous FATCA laws continuously trip up Gringos and Expats: #5- Can fed-up gringos really disappear or fade away by heading south of the border? #6- Consider this, if your goal becoming a “gentleman farmer” gringo: #7- Do you want to get into the exploding Crypto-currency world but don't feel quite confident enough to dive in? Our own Captain Mango has developed a unique one-on-one Crypto consulting and training service (he's been deep into crypto since 2013). To get started, email him at: bewarecaptainmango@gmail.com #8- Be sure to pick up my newly updated, "LATIN AMERICAN HEALTHCARE REPORT": The new edition for 2022 (and beyond) is available now, including the latest "Stem Cell Clinic" info and data and my top picks for the best treatment centers for expats and gringos. Just go to www.ExpatPlanB.com and click on the "Latin American Healthcare Report”.  

In this episode, David Warren – Co-Founder/Chairman of the Board of Bridgeford Trust Company – is back with guest, Joseph Kellogg – Partner/Head of Wealth Planning at WE Family Offices – for part 2 of their discussion on international wealth planning, including more technical issues around information disclosure under CRS, FATCA, and the Corporate Transparency Act. In addition, David and Joe discuss data leaks and how to keep information safe, including Know Your Customer procedures. They conclude with the question of jurisdiction selection and the often-evolving definition of what a family office is.

In this episode, we discuss the laws requiring U.S. taxpayers to report foreign account information and research into the efficacy of those laws.

On today episode of the podcast, I wrap up my Digital Nomad Tax Series with Part III, which covers the Foreign Tax Credit, banking, the Foreign Account Tax Compliance Act (FATCA), and the Foreign Bank and Financial Accounts report (FBARs). Disclaimer: I am not your attorney. The rules outlined below apply differently to everyone based on each individuals' facts and circumstances. This is not legal advice. For more information on the Foreign Tax Credit, click here. To read more about banking, FATCA, and FBARs, click here. This podcast series is based on my five part Digital Nomad blog series, which you can read starting here.

Wednesday July 6, 2022 - More US citizens than ever are renouncing their US citizenship. While politics plays a part - the most common reason is TAXES. US Expatriates (those Americans living outside the country) are still subject to US tax laws, FBAR and FATCA rules. Often, that means double taxation - and it ALWAYS means following US tax laws. When US Citizens elect to renounce their citizenship they find a SURPRISE - and exit tax. That's right. Before someone is allowed to give up their citizenship they have to pay a tax on ALL of their assets. Attorney Steven A. Leahy reveals the cold hard truth about the EXIT tax on Today's Tax Talk. https://www.forbes.com/sites/robertwood/2022/07/06/leave-us-pay-irs-taxes-forever/?sh=3367259c1a30 https://www.irs.gov/individuals/international-taxpayers/expatriation-tax --- Send in a voice message: https://anchor.fm/steven-leahy1/message

The Cayman Tax Information Authority (TIA) recently released its CRS enforcement guidelines outlining the circumstances under which financial institutions could face penalties for failing to comply with the Common Reporting Standard (CRS).It also outlined the process by which financial institutions would be notified of penalties, and the notice and appeals process by which they may contest penalty imposition. Listen to find out more about the latest enforcement guidelines and the latest updates in relation to FATCA and CRS from our in-house experts.

In this episode, David Warren – Co-Founder/Chairman of the Board of Bridgeford Trust Company – sits down with guest, Joseph Kellogg – Partner/Head of Wealth Planning at WE Family Offices – to discuss his take on the evolution of the fiduciary industry and how the U.S. became a jurisdiction of choice. They go on to talk about mandatory information disclosure requirements, including the distinctions between CRS, FATCA, and the Corporate Transparency Act, and the impact of these for those in the international space.

The Cayman Tax Information Authority (TIA) recently released its CRS enforcement guidelines outlining the circumstances under which financial institutions could face penalties for failing to comply with the Common Reporting Standard (CRS).It also outlined the process by which financial institutions would be notified of penalties, and the notice and appeals process by which they may contest penalty imposition. Find out more about the latest enforcement guidelines and the latest updates in relation to FATCA and CRS from our in-house experts.Moderator:Elaine ChowPanelists:Roman IpflingMichelle Chan

Over the past few years, the IRS has increased its compliance and enforcement efforts focused on payment transactions between US and foreign persons. However, these new information reporting requirements for compliance can be confusing and intimidating for taxpayers. What changes has the IRS made to tax information reporting requirements? On today's episode of the Taxgirl podcast, Kelly is joined by Tara Ferris to talk about the new requirements for tax compliance. Tara is a Principal in the Financial Services Office of Ernst & Young LLP. In this role, Tara advises multinational financial institutions and asset managers on customer tax reporting and withholding. In addition, she focuses on process and control improvements to create efficiencies and reduce risk. Before joining Ernst & Young LLP, Tara served as Senior Counsel and worked on matters relating to FATCA, non-resident alien withholding and reporting, and international aspects of domestic information reporting. Listen to Kelly and Tara discuss tax reporting requirements:There's more emphasis now on reporting requirements, either for US payments to foreign persons or foreign income received by US persons. How has the expansion of information reporting impacted the professional tax practice?  How should tax professionals communicate to their clients and financial institutions that they work with which forums are important, and when they need to issue them? When working with financial institutions with clients who don't wish to be reported, how should tax professionals convince them that they need to give up the data, especially in countries where they may have built their entire system around the idea that it's secret? What should a taxpayer do if they think they're supposed to get a forum and didn't, or that form doesn't come through? Is that something that a taxpayer should have a conversation about with their financial institution or tax professional? Many clients struggle with the idea that they could have a reporting requirement that they aren't aware of or have reporting requirements they didn't even know existed. As a tax professional, how should one advise clients to figure out what those are? Kelly and Tara discuss reporting and the burden on the taxpayer to make sure that that information is correct, keep records, and balance the way they use their tax data. With the recent changes in tax reporting requirements, will taxpayers need to be reeducated on what is taxable and what is not? Are we suffering from an overreliance on tax forms to navigate this new territory? Now that more mainstream financial institutions adopt crypto in various forms, could this make it easier or harder for the IRS to enforce crypto reporting? Tara and Kelly provide their opinions about the long road ahead for crypto reporting and tax preparation. Tara speaks on her predictions of the tax reporting space in the upcoming years. To subscribe to the podcast (it's free!) using Apple, Spotify, or your favorite listening app,https://www.taxgirl.com/taxgirl-podcast/podcast-subscription/ ( click here). Links mentioned:Kelly's Website:http://www.taxgirl.com/ ( Taxgirl) Tara's LinkedIn: https://www.linkedin.com/in/tara-ferris-238670b (Tara Ferris)  EY Tax Operations: https://www.ey.com/en_us/financial-services/customer-tax-operations-reporting-services (Customer Tax Operations and Reporting Services)

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss and demystify the popular question: is crypto staking taxed? Matt outlines the recent Jarrett case that had plenty of crypto enthusiasts asking the question! Plus, Matt answers crypto tax questions from Reddit users: casualty losses, FBAR and FATCA, Roth IRAs, the Economic Substance Doctrine, how to handle 1099s, a potential (but unlikely) De Minimis, wash sales, fair market value versus zero cost basis for airdrops and NFTs, and more! Talk.Bitcoin.Tax (01:55): The Jarrett Case's Effect on Staking Taxes (07:30): A New De Minimis Bill? (10:05): The Current Status of Crypto Wash Sales (14:53): Constructive Receipt – When Do You Own Airdrops? (22:32): Are NFT Airdrops Reportable Income? (24:42): Crypto Casualty Losses – Lost, Stolen, Hacked Crypto (29:24): Dealing With 1099s From Crypto Exchanges (38:05): FBAR and FATCA – How To Report

Welcome back to Powering Your Retirement Radio. This week I am taking off my Investment Advisor, Certified Financial Planner™ hat, and putting on my Enrolled Agent, Marathon Tax Planning hat. I am going to share 10 Tax Facts for 2022. I recently attended a two-day, 16 hours of continuing education tax update session for my tax practice. To say it was fun would be a lie; informative and had lots of good information, without a doubt. Western CPE was the firm offering the classes. The instructors Sharon Kreider, CPA, Karen Brosi, CFP®, EA, and Mark Seid, EA, CP, USTCP, are some of the smart people I know in the tax world. They all also are practicing preparers in addition to instructors. It is impossible to recap the 16 hours in one podcast so I thought I would pull out a Top Ten List of things many people would or should want to know about. Top 10 Tax Facts 1) IRS overwhelmed by calls – 90,000 calls a minute 2) IRS Enforcement is back – Letter usually asks for a reply in 30 days. It takes them 60 days to sort their mail. 3) 3rd Round of Stimulus in March of 2022 – Reporting this correctly, IRS not making adjusts for taxpayers this year 4) Child Tax Credit was increased in 2022, but there is a Double Phase Out to help confuse matters. The advances will be reported on IRS Letter 6149. The CTC Advance will cause problems for divorced parents who swap child deductions yearly. 5) Child and Depend Care Credit was increased. The new total does not have to be spent evenly if you have more than one child. 6) Medical Expense Deductions on Schedule A were permanently lowered to 7.5% of AGI. PPE qualifies for Medical Expenses, and yes, hand sanitizer counts. 7) Student Loan Tax-Free Forgiveness extended through 2025 8) Virtual Currency is receiving increased scrutiny. If you exchanged currency from one coin to another, that is reportable. That is a taxable event if you receive currency without paying for it. 9) Have you moved? Update your address with the IRA on Form 8822 or Form 8822-B for a business 10) Set up an account on IRS.gov. It will establish an ID.me *Bonus* FBAR and FATCA, don't forget to file if you have accounts outside the US. Please listen to the episode to hear more about each topic, or click on the links in this post to read more about the different topics. Thank you for listening. I will talk with you again soon. Until next time stay safe. For more information, please visit the podcast's website: https://poweringyourretirement.com/2022/01/20/top-10-tax-facts-you-should-know-for-2022