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Category: Taxes

18 Sep
offshore corporation bank account is the first stop into Reducing Tax

Reducing Tax By Living And Doing Business Overseas

Some poor, uninformed soul wrote this email in response to the promotion we’ve published for the Wealth Summit I’m hosting in Belize next month: “Really, what you’re talking about is a plan to cheat our country out of the tax dollars it deserves for personal gain. Some strategy… “Oh, it may be legal, but evading […]

29 May
Can you reduce tax burden overseas?

An American Retiree Moving Overseas Likely Won’t Reduce His Tax Burden

A friend told me this week that his parents are looking to move overseas for their retirement to save taxes. He recognizes but hasn’t been able to help them understand that that isn’t a realistic objective given their circumstances. My friend’s parents are retired government workers receiving government pensions. Pension income is not eligible for […]

13 Mar
Lief Simon

Taxes And Import Duties On Vehicles Overseas

Singapore was dubbed the most expensive city in the world to live in last week by The Economist Intelligence Unit. That distinction is partly due to the fact that it’s extremely expensive to own a vehicle in this country. The cars themselves aren’t cheap, but it’s the cost of the right-to-own permit that really gets […]

06 Jan
Taking the most beneficial option under IRS regulations isn’t tax evasion. It’s using the rules to minimize your taxes burden.

Panama’s Recently Revoked Taxation Law

Last week, while we were all recovering from Christmas and preparing for New Year’s, the guy in charge of the tax department in Panama got an idea. “I know how to bring in more tax revenue,” this guy seems to have said to himself one morning. “I’ll change the country’s approach to taxation!” And in […]

25 Nov
Taking the most beneficial option under IRS regulations isn’t tax evasion. It’s using the rules to minimize your taxes burden.

Offshore Tax-Filing

A U.S. friend trying to figure out his tax situation after moving overseas recently used the word “tiresome” to explain his position on U.S. taxes offshore. Specifically, he was referring to all the forms he now may or may not need to file. Does he meet the threshold for filing the FBAR and Form 8938? […]

16 Oct
International Tax Review

International Tax Review

“You’ll notice that Lief is in his office as usual,” I wrote this morning to our Panama City staff. “However,” I continued, “he asks that you pretend that he’s not. That is, except in case of critical emergency or dire need, please steer clear of Lief’s desk today.” Tomorrow is Tax Day for us and […]

17 Jun
FBAR Filing Requirements

FBAR Filing Requirements

A Humble Suggestion For The IRS If you haven't completed your FBAR form (TD F 90-22.1) for 2012, here's a heads up: The deadline is less than two weeks away. Remember that postmarking the form by June 30 isn't good enough. The Treasury Department must receive the thing by June 30. Completing my FBAR was my weekend project. I'll [...]