How To File Your FBAR (It's Due Friday) Form TD F 90-22.1, or, as it's more commonly referred to, the FBAR (Foreign Bank Account Report) form, is due this week. Every U.S. person is required to file this form if you have a financial interest in and/or signatory authority over any non-U.S. financial account(s) that [...]
One Person's Junk... Greece's credit rating with Moody's is already in "junk" territory, and, yesterday, Spain was downgraded to just above junk quality. Things are getting interesting in Europe. A few weeks ago, I recommended that, given the current and trending status of the euro versus the U.S. dollar, as well as the disastrous local [...]
A back-up plan. That’s what many people are looking for right now. They don’t want to diversify globally altogether, but they do want to put a plan in place in case something happens and they feel like they have to get out of their home country in a hurry.
Report From The No-Go Zones I spent last week in Puerto Vallarta, Mexico, and am this week in Belize City, Belize. Two places that the U.S. State Department thinks no American should visit. Way too dangerous. I'm not going to try to tell you that nothing bad has ever happened in Mexico or Belize. Parts [...]
Euro's Fall Creates Opportunity For Property Investors In Search Of Diversification The euro has lost 6% against the U.S. dollar in the month of May and is rapidly approaching its most recent low (June 2010) of US$1.20. Make no mistake. It's the euro losing value against the dollar, not the dollar gaining value. The financial [...]
Panama Creates New Opportunity For Residency, Not Necessarily Employment The buzz in Panama last week was an executive order (Executive Order 343) that created a new category for residency in this country. Everyone is hopeful this order will make it easier for foreign nationals to obtain residency and, critically, to be able to work in [...]
I recommend regularly that you have at least one bank account offshore…and that opening a bank account offshore can be the easiest first step to diversifying and internationalizing your life. But why? Why is a bank account in another jurisdiction such an important thing? First, a clarification. When I speak about having a bank account […]
Understanding IRS Form 8938 (Good Luck) Tax season is over, but many U.S. taxpayers remain confused about the new IRS Form 8938...including many tax professionals, it seems, given the number of e-mails I'm getting from readers asking questions to make sure their tax preparers completed their forms correctly. This new form is a catch-all intended [...]
Team USA--Pissing Off The World's Banks For Nickels And Dimes We've been reporting on the 2010 Foreign Account Tax Compliance Act (FACTA) requirements since the bill was introduced two years ago. Now, the implications and consequences of what amounts to one of the most arrogant and extra-territorial pieces of legislation in history are beginning to [...]
I’d say that a second passport is a more critical piece of your global diversification plan right now than ever before.The U.S. Senate has passed a transportation bill that includes a section giving the IRS the power to revoke the passport of any American who the IRS decides might owe US$50,000 or more in taxes. […]
Offshore Living Letter is a publication of Live and Invest Overseas. Our goal is to provide timely, actionable information on all things offshore, including: how to go offshore, diversifying your portfolio, wealth creation, protecting your assets, and much more.
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