Founding partner Anthony Parent was a guest on the Expat Focus podcast to discuss all of the tax traps that expats face when coming to the US.
Listen below to hear his take on what the biggest issues are:
- Capital Gains – How selling stocks you acquired in your homeland could hit you with a huge tax bill
- "Foreign" Life Insurance – Why the US doesn't consider foreign life insurance to actually be life insurance under the US tax code
- Real Estate Investments – The questions you should ask yourself before investing in any US property
- Reporting Requirements – How you could get hit with steep penalties simply because you didn't tell the US about bank accounts you have in your home country
- Finding a good tax professional to work with – Why it's so important to hire someone who is familiar with both your countries tax requirements, and the US tax system
Anthony gives great insight into not only what the issues are, but also gives great advice on how to avoid getting caught up in these tax problems.
Many thanks to Expat Focus for having Anthony as a guest. They have great resources available on their site for anyone in any country!