American Expat Financial Guide: Managing Your Money When You Move Overseas
Book Details
Author(s)Philip Trew
ISBN / ASINB00X362G82
ISBN-13978B00X362G87
Sales Rank498,044
MarketplaceUnited States 🇺🇸
Description
If you're from the US, and plan to move overseas, you need to know how to deal with your money. Making even one mistake can easily cost you thousands of dollars.
There are also many hidden laws and regulations that no one ever tells you about. And ignorance of these laws is no defense. If you inadvertently break one of them, you can be fined $10,000, $100,000, or more.
This guide will inform you of many of the problems you may have as a US citizen moving abroad. You'll discover methods to get access to your money while living overseas, so you can fully enjoy your new life without financial stress.
This guide should not be used as your ultimate source of legal or financial advice. It's designed to make you aware of what you need to ask your lawyer and accountant before you move, to ensure you will be fully-compliant while living overseas.
Topics covered (from the table of contents):
Preparing for the move
Choose your home state
Maintaining a US address
Keeping a US bank account
Open multiple bank accounts
Have a Visa and a MasterCard debit card
Inform your bank that you're overseas
Remote wire transfers
Multi-national banks
Using no-fee credit cards
Collecting Social Security
US-based investment accounts
Making the move
Taking cash overseas
"Structuring" your cash withdrawals
Bringing cash into your new country
Wiring your money overseas
Services to transfer money
Moving precious metals overseas
Living in your new country
FBAR reporting
FATCA reporting
Beneficiary on foreign accounts
Difficulties in opening a foreign account
Safe-deposit boxes
Affordable Care Act (Obamacare)
Taxes
Foreign Earned Income Exclusion (FEIE)
Filing extensions
Foreign retirement accounts
Profits on foreign real estate
Doing business in your new country
Forming a foreign corporation
Becoming a partner in a foreign company
Foreign Corrupt Practices Act
Renouncing US citizenship
Exit taxes
What if you're not current with your US taxes?
Bitcoin
Frequent flyer mile programs
Using a VPN
Phone calls on your computer
There are also many hidden laws and regulations that no one ever tells you about. And ignorance of these laws is no defense. If you inadvertently break one of them, you can be fined $10,000, $100,000, or more.
This guide will inform you of many of the problems you may have as a US citizen moving abroad. You'll discover methods to get access to your money while living overseas, so you can fully enjoy your new life without financial stress.
This guide should not be used as your ultimate source of legal or financial advice. It's designed to make you aware of what you need to ask your lawyer and accountant before you move, to ensure you will be fully-compliant while living overseas.
Topics covered (from the table of contents):
Preparing for the move
Choose your home state
Maintaining a US address
Keeping a US bank account
Open multiple bank accounts
Have a Visa and a MasterCard debit card
Inform your bank that you're overseas
Remote wire transfers
Multi-national banks
Using no-fee credit cards
Collecting Social Security
US-based investment accounts
Making the move
Taking cash overseas
"Structuring" your cash withdrawals
Bringing cash into your new country
Wiring your money overseas
Services to transfer money
Moving precious metals overseas
Living in your new country
FBAR reporting
FATCA reporting
Beneficiary on foreign accounts
Difficulties in opening a foreign account
Safe-deposit boxes
Affordable Care Act (Obamacare)
Taxes
Foreign Earned Income Exclusion (FEIE)
Filing extensions
Foreign retirement accounts
Profits on foreign real estate
Doing business in your new country
Forming a foreign corporation
Becoming a partner in a foreign company
Foreign Corrupt Practices Act
Renouncing US citizenship
Exit taxes
What if you're not current with your US taxes?
Bitcoin
Frequent flyer mile programs
Using a VPN
Phone calls on your computer
