Ever think about lowering your taxes with the strategy of tax-loss harvesting?
Tax-loss harvesting is the practice of selling an investment at a loss and matching the loss against a gain of different security that you sold. By offsetting losses against gains, capital gain taxes are only paid on the net profits…. Read more
Since Americans living abroad are frequently denied the opportunity to buy mutual funds, how can investors diversify their portfolios without being responsible for the day-to-day management of dozens of individual stocks and bonds?
One possible answer is a separately managed account, or SMA. An SMA is a customized portfolio offered by a brokerage firm and managed by an independent investment management firm or money manager…. Read more
Careful planning addresses two major points: what happens to your money while you’re alive, and what happens to your money after you pass away.
In my work as a financial advisor helping Americans who live in Israel with their U.S. investments, I see many who neglect the second aspect, estate planning…. Read more
Do Americans need to report rental income from foreign properties to the IRS?
The answer is yes. American citizens must include all earned income regardless of its source on their American tax reports. Additionally, if foreign rental income is paid into a non-U.S. bank account, depending on the bank account’s balance,… Read more
A retired client of mine sent me an email that started: “What a crazy world it’s become! Corona, riots, elections! Who knows what’s next?” I wrote back, “No one knows, but there’s a lot more going on in the world than just that.” I then explained the following three potential money messes and concluded,… Read more
If you live in the United States and are in a high tax bracket, a good move to minimize your tax bill is to purchase tax-exempt municipal bonds. This may be a smart move since the tax-exempt status of many of these bonds means that you don’t pay tax on the interest payments that you receive…. Read more
Is the U.S. taxation system unfair to American citizens living abroad?
If you are a U.S. expat who earns all your income overseas and even pays taxes to your new country of residence, you still have to report your earnings to Uncle Sam. You need to provide this information by filing U.S…. Read more
If you’re an American citizen, filing your FBAR (Report of Foreign Bank and Financial Accounts) is even more important than planning your summer vacation. The FBAR deadline was changed for 2016, and is now due on April 15 2017.
The FBAR form is a report of any financial account,… Read more
America’s greatness is her policy of equality to all and nondiscrimination. Rosa Parks is famous for her stance on refusing to give in to racial discrimination. Who will be the Rosa Parks and stand up against America’s policy of geographic discrimination?
FATCA discriminates against American citizens living offshore since these expats (who by and large file and/or pay taxes without having direct representation) are required to file the form,… Read more
Putting aside money for an emergency is a good idea, but for an emergency fund to be fully accessible, it needs to be in a liquid asset. Liquid assets, like money markets and CDs receive low interest. So why is putting money aside that won’t grow a good investment?
Reasons not to invest your emergency fund
The money you put aside for emergencies should be enough to cover several months of fixed income…. Read more
