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At my Global Asset Protection and Wealth Summit in Panama City last week, the single most frequently asked question was this: “What can I do to make my passive income qualify for the Foreign Earned Income Exclusion… so I don’t have to pay tax on it?” The answer is: Nothing. There’s nothing an American can […]
I last purchased primeurs in 2005 and 2006. At the time, 2005 was being touted as an exceptional year. I happened to be in St. Emilion, so I bought several cases as an investment. A couple of years later, I got an email from the girl who sold me the wine asking where I wanted […]
Heads up. If you’re an American living overseas and didn’t file a formal extension with the IRS using Form 4868, today is your tax day. You must file your annual return by midnight tonight. If you are an American living overseas and didn’t file a formal extension with the IRS… I have to ask: Why […]
“Panama City today is unrecognizable from the Panama City I discovered for the first time 16 years ago,” I explained this morning to the crowd convened for this week’s Live and Invest in Panama Conference. “This city has reinvented itself over the past decade-and-a-half. When I arrived on the scene 16 years ago, this was […]
The tax questions are coming in fast and furious from U.S. readers as they and their tax-preparers pull together 2014 tax returns (due April 15 unless you are residing overseas or file for an extension). Some of the bad advice readers are getting from their tax “pros” would be funny if it weren’t so expensive. […]
If you’re an American, it’s that time of year again. Time to begin preparing to meet your April 15 obligations. I meet mine each year by filing an extension. Living overseas allows me an automatic extension to June 15, but better, I think, to file the formal extension Form 4868 to get a full added […]
F.H. disagrees with my assessment of the chances that China’s decision to tax its nonresident citizens on their worldwide income as the United States does will lead to every country taxing citizens no matter where they live. In short, I say it won’t happen. He writes: “This is the future, and the complexity will shrink […]
Lots of people in the offshore world are talking about China finally enforcing its global taxation rules, which call for Chinese citizens abroad to be taxed in China. For years, I and other offshore editors have shamed the United States by making the point that it is the only country other than Eritrea that taxes […]
Last week’s Taxation 101 (Where To Live Tax-Free) essay was well received but raised lots of questions from American readers, including many to do with what I’d say is maybe the most misunderstood U.S. tax on individuals—the “Exit Tax” Americans have to pay when they give up their U.S. citizenship. To clarify, this is not […]
A handful of the world’s no-tax countries are in the Middle East, including Kuwait, the UAE, Qatar, and Oman. These are not high on my Places I’d Like To Live list. On the other hand, spending your working years in one of these zero-tax jurisdictions would allow you to grow your retirement nest egg faster.
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.
