Expat Tax Facts and the importance of Tax Planning

Expat Tax Facts are being updated or all out changed throughout the year…

This week we provide Expat Tax Facts for a listener question about the reporting of foreign corporations. We also discuss the importance of planning before your money leaves U.S. soil; and we offer help to those who want to understand the tax implications of the foreign countries they are looking to invest in.

Subscribe to iTunes Here: Tuesdays with Morey Tax Tips

Key Takeaways:

[1:45] Plan your taxes while you are still in the U.S.

[4:29] The goal is to correct past mistakes and plan for the future

[6:01] Step by step procedures for moving money offshore

[8:48] We offer help with understanding the country you want to move to

[12:42] Tax codes are already changing for 2017

[16:03] Listener question about disclosing a foreign corporation

[18:35] Consider that the penalties could be more than the service costs

[20:36] Annual tax reviews

[22:15] Conference at the end of January

Mentions:

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Expat Tax Expert

Rainforest Realty